From economic experiment to diplomatic stage: Why China chose Shenzhen for APEC

Detailed summary

Analysts say the city’s transformation into a global tech hub makes it a fitting stage for next week’s APEC summit - showcasing China’s economic ambitions and push for deeper…

Analysts say the city’s transformation into a global tech hub makes it a fitting stage for next week’s APEC summit - showcasing China’s economic ambitions and push for deeper regional cooperation.

SHENZHEN: Once a little-known border town comprising fishing villages and rural settlements on China’s southern coast, Shenzhen is now preparing to take centre stage as host of one of the year’s most closely watched diplomatic gatherings.

As leaders from the 21 Asia-Pacific Economic Cooperation (APEC) economies prepare to gather in the Chinese megacity next week, Beijing hopes to showcase Shenzhen as a symbol of China's economic transformation - and a model of what it can now offer the region, analysts told CNA.

China has made openness, innovation and cooperation the priorities of its APEC host year, which will culminate in the Economic Leaders’ Meeting on Nov 18 and 19.

Analysts said Shenzhen’s evolution, from a magnet for foreign investment into a global technology powerhouse, makes it a fitting stage for that message.

For businesses, the test will be whether this year’s APEC summit produces practical measures that companies can actually adhere to and use, said Han Yonghui, a professor at Guangdong University of Foreign Studies (GDUFS).

“What matters more is which entities the measures apply to, when they take effect, whether transaction costs are reduced, and what channels of redress are available when disputes arise,” Han added.

With a population of more than 18 million, Shenzhen is now home to tech giants Huawei, Tencent, drone maker DJI and electric vehicle manufacturer BYD.The city’s stunning rise from manufacturing base to global tech hub is central to why it was chosen to host this year’s APEC summit, said Xu Liping, an Asia-Pacific affairs expert at the Chinese Academy of Social Sciences (CASS).“Shenzhen has progressed from a policy-based special zone to a model of institutional opening up, and made an industrial leap from the world's factory to an innovation engine,”…

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