Luohu has attracted five key technology companies to its Sungang-Qingshuihe zone in recent years, and the annual sales revenue of each is more than 1 billion yuan ($154.4 million).

This shows the district is making great progress in boosting the development of its high-tech industries in such key fields as information technology, new materials, life and health, and digital economy.

In 2015, the city commenced its pilot urban renovation projects focused on Luohu. Over the past five years, the district’s annual investment in fixed assets hit 23.4 billion yuan. In contrast, Luohu’s annual fixed asset investment was less than 7.8 billion yuan on average between 2005 and 2014.

According to the Luohu district government, the district will release about 180 hectares of land and more than 9.9 million square meters of industrial space during the next five to ten years.

Last year, Luohu invested 13.35 billion yuan in the Sungang-Qingshuihe zone, up 5.62% year-on-year.

In the 1980s and 1990s, the Qingshuihe zone featured the first export supervised warehouse on the Chinese mainland. However, after more than 30 years of development, these warehouses can no longer meet demand.

In 2014, the Sungang-Qingshuihe zone was recognized as a key development zone of Shenzhen city, and, after several years’ development, it has become a core zone of Luohu’s urban renovation projects.

In 2018, Shenzhen issued a plan to make it an artificial intelligence base, prompting it to launch an industrial transformation from logistics to artificial intelligence, life and health, information technology and other strategic emerging industries.

According to the Luohu district government, the construction work of a bio-technology industrial park in the southwestern corner of the zone began this February.

The Qingshuihe zone will also become one of the three transport hubs of Luohu as an intersection of a high-speed railway, an intercity railway and three subways. It will also serve as a core zone of the Dawutong emerging industrial belt of Luohu, and pivot for Luohu to merge into the Greater Bay Area.