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

Elizabeth Law China Correspondent In Shenzhen

Updated

Published

Nov 02, 2020, 05:00 AM

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.

Already a subscriber? Log in

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

ST One Digital

$9.90 $9.90/month

No contract

ST app access on 1 mobile device

Subscribe now

Unlock these benefits

All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.