SZ ranks 1st in innovation and entrepreneurship index

 Shenzhen has retained the top spot for the third straight year in the entrepreneurship and innovation index with a score of 88.16 out of 100, according to a report led by a top expert from the State Council.

Shenzhen attaches great importance to the overall improvement of the innovation and entrepreneurship environment, boasts the broadest range of entrepreneurship and innovation resources, and finds the perfect balance between the value of entrepreneurship, innovation and social cost, the report released Wednesday said.

In terms of environmental support, which is a subindicator of the index, Shenzhen ranked second only to Shanghai.

According to the report, Shenzhen has continued to improve the efficiency and quality of government services through the construction of smart city and digital government. In terms of industrial foundation, the strategic emerging industries in Shenzhen are developing rapidly, with the global competitiveness of high-tech products constantly improving.

Shenzhen has introduced very attractive policies for talent introduction, the report said. The proportion of employees in the knowledge-intensive service industry in the city is second only to Shanghai (20.59 percent) and levels with Beijing (16.97 percent), ranking third of nine major Chinese cities.

Tao Yitao, a professor with Shenzhen University and a research member of the report, said Shenzhen has continuously promoted the sustainable development of mass entrepreneurship and innovation through better employment, high-quality patents and lower energy consumption.

The added value of Shenzhen’s high-tech industry accounted for 34.28 percent of the city’s GDP, the report showed.

Shenzhen has also surpassed Beijing to become the city with most active innovation pursuits. In 2019, the number of patents granted in Shenzhen exceeded 1.66 million, accounting for 6.73 percent of the total number of patents granted in China.

Meanwhile, the young metropolis in South China continued to rank first in government efficiency index, exceeding the runner-up by 63 percentage points, according to the report.