10. Main Conclusions and Suggestions

Shenzhen's innovation-driven development has been a remarkable journey, transitioning from a manufacturing hub to a global innovation leader. The city's economic growth model shifted from high-speed to high-quality, with a focus on innovation and industrial upgrading. Corporate innovation funding played a pivotal role, supporting nearly 8000 MSMEs and leading to significant economic growth. Shenzhen's success is attributed to its robust innovation ecosystem, public R&D platforms, and proactive policies. The city's GDP per capita increased by USD10,000 over five years, and its industrial added value rate saw a substantial rise. Shenzhen's innovation funding policy had a direct amplification effect on output, with an additional RMB14.4 billion in added value for MSMEs. The city's transition to high-quality development is marked by its focus on seven strategic emerging industries, including biotechnology and next-generation information technology. Shenzhen's experience offers valuable insights into how cities can achieve sustainable and innovation-driven growth.