Editor’s Note

Shenzhen Special Economic Zone’s 45-year history is a chronicle of policy-driven reform and a narrative of innovation written by enterprises. On April 13, 2018, at the conference marking the 30th anniversary of the establishment of Hainan Province and the Hainan Special Economic Zone, President Xi Jinping emphasized that “special economic zones must bravely shoulder historical responsibilities, adapt to new changes in domestic and international situations, meet new national development requirements, respond to people’s new expectations, and carry forward the special zone spirit of daring to venture, experiment, and work hard.” On the occasion of the 45th anniversary of Shenzhen Special Economic Zone, this special report, titled “The Enterprise Revelation of the Special Zone Spirit,” uses the three core spirits—daring to venture, pioneering, and working diligently—as guiding themes. Through the innovative practices of three types of Shenzhen enterprises, it decodes the driving forces behind Shenzhen’s development and showcases how the special zone spirit is transformed into innovative momentum and industrial advantages in corporate practice. The stories of Shenzhen enterprises are not only footnotes to historical glory but also methodologies and revelations for the future. In today’s era of global competition and technological rivalry, the choices of Shenzhen enterprises may well serve as reference answers for China’s high-quality development.

The Chinese character for “enterprise” (企) in oracle bone script is composed of “person” (人) and “stop” (止), symbolically representing a person standing on tiptoe, gazing into the distance. This is a fitting metaphor for Shenzhen’s business community: rooted in the present while looking toward the future, constantly exploring and striving for higher and farther goals.

Over forty-five years of spring blossoms and autumn harvests, Shenzhen has transformed from a border town into a global benchmark for innovation. With a spirit of “venturing,” an impetus for “creating,” and a style of “doing,” it has written a miracle in the history of global industrialization, urbanization, and modernization. The “Shenzhen Miracle” is deeply rooted in the fertile soil of the special zone spirit—daring to venture, pioneering, and working diligently. The most active and vibrant cultivators of this land are the countless enterprises that have taken root here and tapped into the market.

When we explore “why Shenzhen can,” the answer lies within these enterprises that stand on tiptoe to look ahead and bend their backs to work hard. By “daring to venture” to open up possibilities, using “daring to pioneer” to set benchmarks, and relying on “working diligently” to solidify foundations, the growth trajectory of Shenzhen enterprises has become a concrete expression of the special zone spirit. Years of innovative practice have not only achieved success for Shenzhen enterprises themselves but have also written a profound revelation for Shenzhen, the “City of Innovation.”

“Daring to venture” is the fearless courage of pioneers. The innovative spirit of daring to venture has provided the driving force for the development of special economic zones, overcoming ideological and institutional obstacles encountered during development, and creating great achievements in the growth of special economic zones. In today’s emerging industries, a group of young enterprises betting on the future and venturing into technological “uncharted territory” are using technological imagination to challenge mature market structures, replacing traditional industrial resource dependencies with “venturing” and “experimenting.”

At its inception, Ubtech directly bet on the humanoid robot track, and over a decade later, its humanoid robot Walker S rang the bell at the Hong Kong Stock Exchange as the “first humanoid robot stock.” United Aircraft tackled pure visual obstacle avoidance technology, achieving six-direction precise positioning and obstacle avoidance for drones, pioneering Chinese solutions in emergency rescue and logistics networks. Similarly, Insta360 used “venturing” as its tool to put panoramic cameras into consumers’ pockets, turning extreme perspectives into tools for mass creativity… “Daring to venture” and “daring to experiment” have kept Shenzhen’s industrial innovation flowing with vitality, enabling Shenzhen enterprises to forge new paths, create good roads, and achieve great things, turning the “uncharted territory” of emerging industries into “new highlands.” It is precisely because of this daring and experimental innovative spirit that special economic zones have been able to break through barriers and achieve tremendous development.

“Daring to pioneer” is the extraordinary boldness of barrier-breakers. As testing

Shenzhen Special Economic Zone

The Shenzhen Special Economic Zone (SEZ) was established in 1980 as a pioneering experiment in China’s economic reform and opening-up policy. It transformed from a small fishing village into a global hub for technology, manufacturing, and innovation, serving as a model for China’s rapid economic development.

Hainan Special Economic Zone

The Hainan Special Economic Zone is a major economic development zone established in 1988 on Hainan Island, China’s southernmost province. It was created to attract foreign investment and boost economic growth through preferential policies and open-market practices. In 2020, its status was further elevated to that of a free trade port, aiming to develop it into a globally influential high-level free trade zone by the middle of the 21st century.

oracle bone script

Oracle bone script is the earliest known form of Chinese writing, used during the late Shang Dynasty (c. 1600–1046 BCE). It was inscribed on turtle shells and animal bones for the purpose of pyromantic divination, where cracks formed by heated rods were interpreted as answers from ancestral spirits. These inscriptions provide critical historical evidence about the politics, economy, and religious practices of ancient China.

Ubtech

I am unable to provide a summary for “Ubtech” as it does not refer to a known place or cultural site. Ubtech is a Chinese company, founded in 2012, that is a leading manufacturer of humanoid robots and AI technologies.

Walker S

I am unable to provide a summary for “Walker S” as it does not correspond to a recognized place or cultural site. It is possible this refers to a misspelling, a local unofficial name, or a personal reference. If you have more context or can verify the correct name, I would be happy to help.

Hong Kong Stock Exchange

The Hong Kong Stock Exchange (HKEX) is one of the world’s largest and most prominent financial marketplaces. It was officially formed in 1986 through the merger of four separate exchanges that had existed since the late 19th century. It is a critical gateway for capital flows between international investors and mainland China.

United Aircraft

“United Aircraft” refers to the major American aerospace manufacturing conglomerate formed in 1934, which brought together companies like Boeing, United Airlines, and Pratt & Whitney. It was established through government-mandated consolidation to regulate the growing aviation industry and break up monopolistic practices. The corporation was dissolved in 1975, but its legacy continues through its successor companies that remain giants in aviation today.

Insta360

Insta360 is not a place or cultural site, but a technology company founded in 2015 that specializes in creating innovative 360-degree cameras and action cameras. The company is known for its advanced image stabilization software and has become a major player in the consumer and professional immersive media markets.