China's economic recovery: Is the shine for real?

Shenzhen's tech-driven economy key to country's rebound

The Chinese economy is recovering swiftly from the coronavirus shock as normal life returns, but the trumpeted revival is not all it is made out to be. The Straits Times China Bureau reports.

Shenzhen, home to the HQ of Internet giant Tencent, is likely to play a leading role in China's goal of becoming a tech power by 2035. ST PHOTO: ELIZABETH LAW Shenzhen has staged a remarkable recovery in its second quarter amid the pandemic, thanks t
Shenzhen has staged a remarkable recovery in its second quarter amid the pandemic, thanks to a surge in the production of medical supplies and higher demand for electronics and tech services. ST PHOTO: ELIZABETH LAW
Shenzhen, home to the HQ of Internet giant Tencent, is likely to play a leading role in China's goal of becoming a tech power by 2035. ST PHOTO: ELIZABETH LAW Shenzhen has staged a remarkable recovery in its second quarter amid the pandemic, thanks t
Shenzhen, home to the HQ of Internet giant Tencent, is likely to play a leading role in China's goal of becoming a tech power by 2035. ST PHOTO: ELIZABETH LAW

When China ordered factories to shut at the height of the coronavirus outbreak in February, the export-dependent technological and electronics hub of Shenzhen was severely hit.

The city's economy shrank 6.6 per cent in the first quarter, its worst-ever decline in four decades, official figures show.

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A version of this article appeared in the print edition of The Straits Times on November 02, 2020, with the headline 'Shenzhen's tech-driven economy key to country's rebound'. Print Edition | Subscribe