Shenzhen's APEC Summit: A Catalyst for Global Economic Inspiration

The recent informal gathering of high-ranking officials from the Asia-Pacific Economic Cooperation (APEC) held in Shenzhen has been a notable moment in the global economic calendar. Set against the backdrop of one of the fastest-growing cities in the world, the event has sparked discussions about the potential inspirations that Shenzhen's development can provide for the rest of the globe.

Kishore Mahbubani, former Singaporean ambassador to the United Nations and seasoned observer of global economic trends, made a remarkable return to Shenzhen, a city he described as “the fastest-developing city in world history.” His insights on the APEC leaders' upcoming meeting in 2026 have captured attention, as he emphasizes Shenzhen's extraordinary transformation from agricultural land to a bustling metropolis.

“APEC leaders visiting Shenzhen will undoubtedly be impressed,” Mahbubani stated, underlining that the achievements of this city can serve as a genuine inspiration for the world. Standing atop a high-rise overlooking the Shenzhen Bay, he reflected on the city's previous state—a landscape dominated by rice fields decades ago has now been replaced by a vibrant skyline befitting global cities.

The city is not just a hub for trade and commerce but is also home to BYD, a pioneering electric vehicle manufacturer that has made substantial advancements in green technology. Mahbubani's test rides in BYD's new electric models and observations of their Blade battery technology encapsulated the innovative spirit of Shenzhen. Established just thirty years ago, BYD is now operating in 116 countries and symbolizes the city's shift from basic manufacturing to advanced technological capabilities.

This year marks 45 years since Shenzhen was designated as a Special Economic Zone (SEZ). The evolution of this area into one of China's major urban economic centers exemplifies its role as a testing ground for the nation’s development policies. Mahbubani acknowledges that administrative factors contribute to the city’s progress, particularly through initiatives that support innovation and entrepreneurship.

During his visit, he engaged with startups at the Qianhai Shenzhen-Hongkong Youth Innovation and Entrepreneur Hub, highlighting how integrated governmental support facilitates their growth. He described this model as both effective and reproducible, pointing to Shenzen's unique ability to combine economic flexibility with robust state assistance as a template for other regions.

Moreover, Mahbubani emphasized that Shenzhen's decades-long development story also reflects the transformation of its relationship with Hong Kong—shifting from a one-sided dynamic to one of mutual empowerment.

The city, with its youth-driven population and dense innovation ecosystem, attracts burgeoning industries, from electric vehicles to augmented reality technologies, illustrating a forward-thinking approach to growth during a time when global economic expansion is slowing. “What Shenzhen has accomplished serves as a true source of inspiration for other nations to see how much progress can be achieved in such a short span,” he concluded.

In a world hungry for economic strategies that yield results amidst challenges, Shenzhen appears to be a beacon of hope and a model for sustainable urban development. As the APEC summit approaches, the eyes of the world will be on Shenzhen, eager to learn from its extraordinary journey and accomplishments.