'Dare to become the world's first': Why dreamers flock to China's Shenzhen

Since childhood, Wang Tao (Frank Wang) was fascinated by remote-controlled helicopters. Years later, while studying at a university in Hong Kong, he turned that childhood passion into a research project, developing a system that allowed helicopters to hover steadily in midair.

Today, he's a billionaire. According to Forbes, his net worth sits at an estimated $6.2 billion. He is best known as the founder and CEO of DJI, the drone giant eadquartered in Shenzhen, south China's Guangdong Province, that holds more than 70% of the global market.

Wang's journey was not only driven by his talent and hard work, but also nurtured by the fertile ground of opportunity that Shenzhen, as well as the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), provided.

As Shenzhen prepares for APEC 2026, the city is set to showcase the same energy that turns companies like DJI from a brilliant idea into a global powerhouse.

The culture

Looking back, Wang says Shenzhen made everything feel "simple."

Speaking at an award ceremony a decade ago, he described his early team: "A group of young people just starting out in their careers managed to reach the pinnacle of their industry simply by keeping their heads down, working hard and getting things done – without ingratiating themselves with others or resorting to shortcuts." 

"Perhaps this is the kind of story that could only happen in Shenzhen," he added. 

With a culture that rewards bold ideas, embraces risk and respects hard work, Shenzhen, often dubbed "the Silicon Valley of China," has made entrepreneurship part of its DNA, turning it into a magnet for talent.

But a thriving startup culture doesn't happen overnight. Behind it is a policy framework designed to support businesses at every stage of their development.

An ecosystem of support

For start-ups, securing funding is one of the toughest hurdles. To help early-stage companies survive, Shenzhen has built a comprehensive investment ecosystem.

From government-backed investment institutions, such as the Shenzhen Angel Fund of Funds and Shenzhen Capital Group, to a broad network of private firms, the city offers plenty of ways to help founders turn ideas into reality.

Wang remembers how government funding helped his young team through a rough patch. "Government funding support in 2008 enabled us to move into a spacious office for the first time," he said.

Funding is only part of the equation. Shenzhen has built an integrated ecosystem that supports innovation at every stage, focusing on five key elements: basic research, technical research, achievement industrialization, technology finance and talent support.

The results show up in the city's R&D numbers. In 2024, Shenzhen's R&D spending hit 6.46% of its GDP, second only to Beijing among Chinese cities. To attract and support talent, the city provides up to six months of rent-free working space for qualified entrepreneurs.

It is these entrepreneur-friendly policies that have continued to propel Shenzhen's rise as a leading innovation hub.

Everything within reach

"Shenzhen provides the best environment for hardware innovation," Wang said.

The city's supply chain is remarkably comprehensive, which can be seen in Huaqiangbei, also known as "China's No. 1 Electronics Street." Here, one can find every part of a drone in just a couple of hours. From core control chips and specialized sensors to screws and cables, the market is a one-stop shop for the components behind some of today's most advanced tech products.

This ready access to supplies has also been a major advantage for other hardware companies, too.

When Zhou Jian (James Zhou), founder of UBTECH, one of China's largest humanoid robotics companies, came to Shenzhen in 2009 to look for suppliers, he found that "the city not only offered a wide range of choices, but also had a well-established supply chain." This greatly improved the company's R&D and production efficiency, Zhou told a local newspaper.

"Take custom-made gear as an example. There were plenty of manufacturers in Shenzhen that could meet our specific needs," Zhou said. "This helped us improve efficiency by at least 50% and cut costs by around 30%."

Zhou's experience reflects Shenzhen's ultimate edge: a full-stack supply chain spanning semiconductors, AI servers and robotics that makes building hardware cheaper and faster.

Taking advantage of the Greater Bay Area

Shenzhen's location is another key draw.

Situated next to Hong Kong and at the heart of the GBA, it gives businesses access to the region's extensive manufacturing base and Hong Kong's international financial networks. This connects companies with a well-established industrial ecosystem while opening doors to global markets.

Wang's early days in DJI are a perfect example. While studying at HKUST, he received funding from his professor, Li Zexiang, who plays a leading role in connecting academic research with venture capital in Hong Kong.

Beyond funding, Hong Kong also connects companies with global markets. Its common law system – widely used in international commerce – and its well-established intellectual property protection grant companies reliable legal frameworks as they expand overseas.

By bringing these complementary strengths together, the GBA has become an innovation powerhouse.

In 2025, the GBA was home to 69,000 high-tech enterprises and boasted a combined GDP of more than 15 trillion yuan ($2.25 trillion), accounting for nearly 11% of China's national GDP, despite occupying less than 0.6% of the country's land area, according to a blue book released in Guangzhou in October.

The region's strength as an innovation incubator has earned international recognition.

For the second year in a row, the Shenzhen-Hong Kong-Guangzhou cluster has ranked first globally in the World Intellectual Property Organization's Global Innovation Index 2026.

Startup Genome, a US-based global startup ecosystem research institution, describes Shenzhen as a hub where "a fast-moving tech culture, deep supply chain integration, and relentless entrepreneurial energy" are driving innovation at the frontier of China's industrial development.

As Shenzhen welcomes global leaders to APEC 2026, it is showing the world a city brimming with talent and ambition, and a GBA whose creativity and openness reach far beyond its borders.