China's Shenzhen to prioritize AI, NEV, biomedical industries

Shenzhen, a tech hub located in south China's Guangdong Province, has opened three dedicated offices to prioritize the development of the artificial intelligence (AI), new energy vehicle (NEV), and medicine and medical apparatus industries.

Shenzhen's city government has said it will select young, high-caliber officials to staff the three offices, which will run in relative independence of the existing government structure.

Home to a constellation of tech firms like Huawei and DJI, Shenzhen has prioritized the development of new industries, with the AI, NEV and biomedicine sectors emerging as some of the most promising economic engines.

The NEV industry office will work to promote intelligent driving, including the promotion of driving permissions for vehicles with an autonomy level of L3 or higher, and facilitate automobile exports from the city, said Tang Shangxing, deputy director of the office.

Shenzhen is home to prominent NEV producers such as BYD, and its NEV output surpassed 1.73 million vehicles last year, a surge of 104.2 percent year on year.

The city has also established five industrial funds totaling 16.5 billion yuan (about 2.32 billion U.S. dollars) to support its biomedical sector, according to the medicine and medical apparatus industry office.

The added value of Shenzhen's biomedicine industry was 13 billion yuan in the first half of 2024, a yearly increase of 10.6 percent.

The city has also earmarked the AI sector for fast-tracked development, with the newly established AI industry office promising to create more scenarios for AI application.

In 2023, the output value of Shenzhen's AI industry exceeded 300 billion yuan, up 21.1 percent year on year.