Economy bustling with tech giants and a vast pool of professionals

One thing many major Chinese tech companies have in common is that they have all made a presence in Shenzhen in South China's Guangdong province, a city "born out of innovation", local officials said.

Since it became a special economic zone 40 years ago, Shenzhen has led the development of new ideas in China and lays claim to many firsts in the country's history. They include the issuance of the first stock certificate and the establishment of the first law firm since the founding of the People's Republic of China in 1949.

Innovation is regarded as the main engine for development in Shenzhen, where famed technology enterprises were born and raised.

Eight Shenzhen-based companies have made the Fortune Global 500 list, according to the Shenzhen city government.

Data from the World Intellectual Property Organization show that two of the world's top 10 corporate filers of international patent applications using the Patent Cooperation Treaty system in 2019 were from Shenzhen, ranking first and eighth respectively.

Younger companies with great growth potential such as medical device developer Mindray and 3D camera manufacturer Orbbec have emerged as leaders in their respective fields.

As of the end of 2019, Shenzhen was home to more than 17,000 national high-tech enterprises, second only to Beijing in China, according to the Shenzhen government work report released in January.

At the ceremony of the 21st Awards for Outstanding Chinese Patented Inventions and Industrial Designs in July, three Shenzhen-based companies, including Mindray, took home gold medals for their invention and utility model patents.

The annual awards are jointly presented by the National Intellectual Property Administration and WIPO.

Out of the 10 gold award winners for design, two were companies headquartered in Shenzhen — DJI and carmaker BYD.

Shenzhen-based company Goodix Technology is leading the world in fingerprint sensors and Mindray has established a presence in Europe and the United States, according to Shenzhen Special Zone Daily.

The city is also strengthening its protection of intellectual property, to provide an important guarantee for innovation-driven development.

In addition to introducing new regulations for IP protection, Shenzhen has established the Shenzhen Intellectual Property Court and the China (South) Intellectual Property Center, according to the local government.

Many local technology companies are happy with Shenzhen's work on the IP front, saying that IP infringement cases are quickly resolved, which reassure businesses as they concentrate on research and innovation, news website The Paper reported.

Behind the impressive numbers and innovative achievements is a vast pool of science and technology professionals.

From having just a handful science and technology professionals 40 years ago, today Shenzhen is home to some 1.84 million of them, according to a report by Nanfang Daily on May 30.

"Over the past 40 years, the number of science and technology professionals in Shenzhen has increased by more than 900,000 times," an official with the Shenzhen Association for Science and Technology told Nanfang Daily.

Underpinning the rapid growth is "the continuous improvement of industrial structure, an increasing number of innovation entities and the talent policies the city has introduced in recent years", Nanfang Daily quoted Guo Wanda, executive vice-president of the China Development Institute, as saying.

Fan Gang, president of the institute, told Shenzhen Special Zone Daily that the city needs to enhance its advantages in innovation and startup businesses and introduce more incentives.

Shenzhen will continue its efforts to establish a culture that respects knowledge and talent, and provide further support to the city's tech professionals, said the local government in a letter marking the annual National Science and Technology Workers' Day on May 30, Nanfang Daily reported.