China’s Shenzhen lays down marker for tech investment with US$22 billion pledge

China’s southern tech hub of Shenzhen plans to “fully compete” in emerging sectors such as artificial intelligence, announcing 160 billion yuan (US$22.07 billion) in “new-type infrastructure” investment for the year as it called on the city to embrace challenges like a “seabird braving the storm.”

When delivering the city’s work report on Tuesday, Shenzhen Mayor Qin Weizhong took a metaphorical turn, saying difficulties must be faced with “the courage of a seabird that thrives amid storms.”

The mayor also said the city should “prioritise action, shoulder responsibilities and fully leverage positive factors to drive high-quality development step by step.”

His remarks came as Shenzhen – long hailed as China’s Silicon Valley – faces growing competition from other Chinese cities, notably Hangzhou in the east, where the success of its AI start-up DeepSeek and robotics firm Unitree has drawn global attention .

According to the work report, Shenzhen is setting an ambitious 5.5 per cent target for the growth of its gross domestic product in 2025, along with a 2 per cent increase in the consumer price index, a 3 per cent rise in general public budget revenue and the creation of 200,000 new jobs.

Qin said these goals reflect Shenzhen’s commitment to “shouldering the responsibilities of a major economic powerhouse”, calling them “within reach” if the necessary effort is made.

“Meeting this year’s goals will not be easy, but Shenzhen is a city that dares to strive. It has always grown through challenges.”