Shenzhen has built up a market-oriented research system, which is led by local enterprises and backed up by domestic universities and research institutes. This has enabled the city to improve its capacity for independent innovation. Since 1992, the output value of high-tech products has been increasing at 46.5 percent year-on-year, and the total number of patent applications has been growing with a year-on-year increase of over 30 percent. The output value of those high-tech products with independent intellectual property rights has made up 58.9 percent of the city’s total.
During the period of the city’s 11th five-year program, the municipal government is expected to invest 10 billion yuan of its fiscal revenue in scientific and technological research and development. Together with investments from enterprises, the city’s total investment in research and development is expected to reach 100 billion yuan.