In Shenzhen, the Chinese Silicon Valley, the sleeping dragon is awake
by Dagmar Dieterle
We Germans know Beijing and also Shanghai. But be honest, do you know Shenzhen?
Shenzhen and the surrounding river delta host more than 40% of all international patent applications from China. This is where the big Chinese companies like Huawei and Tencent are based. But who is Tencent? This global corporation is now the most valuable company in Asia and has overtaken Toyota, Samsung and Sony.
Tencent operates Wechat, the world' s largest social network, as well as the largest mobile payment provider, a major provider of video games, e-commerce, virtual reality, fintech, artificial intelligence, cloud services and much more.
"Made in China 2025"
The Shenzhen Delta is a perfect fit for the central government in Beijing. Under the strategic plan "Made in China 2025", high technologies are to be actively promoted in China. The defined areas also include the manufacturing industry including robotics and smart manufacturing technologies, as well as rail technology and new materials.
In these areas China wants to become an industrial global superpower by 2050. "Made in China 2025" is not only a homage to the German "Industry 4.0", but also a direct challenge to "Made in Germany". This technological leadership is to be achieved by top-down promotion of the domestic industry and the creation of "lighthouses", typical of Chinese economic planning.
The "sleeping dragon", as which China was once known, has long been wide awake and spreads its wings. You can admire him or look at him with suspicion. But one thing is certain: You cannot ignore him!
Dagmar Dieterle-Witte, Editor marketSTEEL
Photo: marketSTEEL and fotolia