Core Insights - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has topped the global innovation cluster ranking for the first time, surpassing the "Tokyo-Yokohama" cluster, which had held the second position for five consecutive years [1][2] - The Global Innovation Index (GII) cluster ranking now includes three indicators: international patent applications via the Patent Cooperation Treaty (PCT), scientific paper publications, and the newly added venture capital transaction volume [1] Indicator Contributions - Scientific paper publications are primarily contributed by universities and research institutions in Guangzhou and Hong Kong [2] - Shenzhen leads in PCT patent applications with a total of 16,300 applications, accounting for 9% of the global total, second only to Tokyo-Yokohama's 10.3% [2] - The venture capital transaction volume is also significantly contributed by Shenzhen, although without this new indicator, the cluster would still rank second [2] Innovation Ecosystem - The high concentration of venture capital indicates a robust innovation ecosystem, allowing for the aggregation of innovative enterprises, talent, and technological achievements [2] - The PCT patent application volume reflects the region's economic development driven by technological innovation rather than traditional factors, enhancing the quality and sustainability of regional economic growth [2] - Major technology companies such as BYD, Huawei, and Tencent are key contributors to the PCT patent applications, although there is a need for improvement in source innovation and key node innovation [2] Collaborative Network - The innovation network within the "Shenzhen-Hong Kong-Guangzhou" cluster is characterized by Guangzhou's research foundation, Shenzhen's industrial transformation capabilities, and Hong Kong's internationalization and intellectual property system [3] - This cluster is seen as a significant observation and practice window as China enters the "engineer dividend" phase, with the potential to continuously gather innovative resources and unleash greater development momentum [3]

Group 1 - The "Shenzhen-Hong Kong-Guangzhou" cluster ranks first globally in the 2025 Global Innovation Index, as announced by the World Intellectual Property Organization [1][4] - The cluster excels in three core indicators: international patent applications, scientific publications, and venture capital transactions, with a notable advantage in venture capital transactions [4][11] - Huawei and Sun Yat-sen University are the top patent applicant and research institution, respectively, within the "Shenzhen-Hong Kong-Guangzhou" cluster [4][11] Group 2 - The Hong Kong government emphasizes a four-pillar strategy of "education, technology, talent, and investment" to enhance innovation and technology infrastructure [7][10] - Hong Kong's financial market provides ample venture capital opportunities, supporting the transformation of innovative ideas into tangible results [9][12] - The government has introduced three major funding plans, each involving 10 billion HKD, to support innovation and technology development [10][12] Group 3 - The active venture capital environment in the "Shenzhen-Hong Kong-Guangzhou" cluster is crucial for the development of the technology innovation industry [12][13] - Regional cooperation within the Guangdong-Hong Kong-Macao Greater Bay Area enhances connectivity and synergy between manufacturing and financial sectors [12][13] - The global interest in emerging markets, particularly in technology innovation, is expected to provide further support for the Greater Bay Area's innovation ecosystem [13]

Core Insights - The World Intellectual Property Organization (WIPO) released the 2025 Global Innovation Index, highlighting that the Shenzhen-Hong Kong-Guangzhou innovation cluster has surpassed the Tokyo-Yokohama cluster to become the world's top innovation cluster for the first time [1] - The Shenzhen-Hong Kong-Guangzhou cluster has ranked second globally for five consecutive years from 2020 to 2024, and this year marks its ascent to the top of the global rankings [1] - The Macau-Zhuhai innovation cluster has also improved its position, moving up two spots in the global top 100 [1] Industry Developments - The Guangdong-Hong Kong-Macao Greater Bay Area Development Plan aims to establish the region as a "globally influential international technology innovation center," and the recent achievement of the Shenzhen-Hong Kong-Guangzhou cluster reflects positive progress in this initiative [1] - The inclusion of venture capital (VC) transaction activities as a new metric in this year's Global Innovation Index cluster research has reshaped the ranking landscape, emphasizing the importance of financial backing in innovation [1] - WIPO's Director General emphasized that innovation clusters are vital components of a strong national innovation ecosystem, facilitating the transformation of scientific research into economic outcomes [1]

Core Viewpoint - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has surpassed the Tokyo-Yokohama cluster to become the top-ranked innovation cluster globally, as reported in the 2025 Global Innovation Index by the World Intellectual Property Organization [3][4]. Group 1: Innovation Cluster Ranking - The "Shenzhen-Hong Kong-Guangzhou" cluster achieved the first position, followed by Tokyo-Yokohama and San Jose-San Francisco [4]. - The inclusion of venture capital (VC) transactions as a new indicator in the Global Innovation Index has significantly influenced the ranking, highlighting the importance of converting scientific research into economic outcomes [7][8]. Group 2: Investment Attraction - From 2019 to 2023, the top 100 clusters attracted nearly 169,000 VC transactions, with San Jose-San Francisco leading at 6.9% [7]. - Guangzhou has established a comprehensive financial support system for technology innovation, including a 150 billion yuan investment fund and a 50 billion yuan technology innovation fund, positioning it as a leading city for venture capital in China [9]. Group 3: Policy Support and Collaboration - The three cities have implemented various supportive policies for technology innovation, such as reducing rents for specialized small and medium enterprises and promoting cross-city resource collaboration [11]. - The Guangdong-Hong Kong-Macao Greater Bay Area is focusing on enhancing cooperation in technology incubation, with initiatives like the Hong Kong University of Science and Technology's entrepreneurship competition being held in Guangzhou [13]. Group 4: Future Opportunities - The innovation cluster is expected to capitalize on opportunities presented by the integration of artificial intelligence across various industries, aiming to lead in global industrial transformation [14]. - The development of educational institutions and research facilities in Guangzhou and Dongguan is aimed at strengthening the region's technological capabilities [16].

Core Insights - The Shenzhen-Hong Kong-Guangzhou innovation cluster has topped the "Global Innovation Index 2025" ranking, marking a significant milestone for the Guangdong-Hong Kong-Macao Greater Bay Area and showcasing China's growing innovation capabilities on the global stage [1] Group 1: Ranking and Metrics - The ranking evaluates innovation concentration through three core indicators: PCT international patent applications, scientific publications, and venture capital transactions, with the latter being a new addition this year [1] - Over the past five years, the Shenzhen-Hong Kong-Guangzhou cluster had a patent application density of 2,292 per million people, a scientific publication density of 3,775 per million, and a venture capital transaction density of 135 per million [1] - The cluster accounted for 9% of global patent applications and 2.4% of global scientific publications, ranking second and third globally, respectively [1] Group 2: Factors Contributing to Success - The new ranking method incorporates venture capital data, reflecting entrepreneurial activities and innovation financing, which has positively impacted the cluster's overall score [2] - The balanced development across inventors, scientific authors, and venture capital activities indicates strong vitality within the Shenzhen-Hong Kong-Guangzhou cluster [2] - The Greater Bay Area's technological innovation strength is attributed to continuous accumulation and collaboration among its cities, with each city contributing unique strengths [3] Group 3: Financial Support and Infrastructure - The financial support, including venture capital, is crucial for transforming favorable conditions into technological innovation capabilities [4] - By the end of 2024, Shenzhen had over 1,560 venture capital firms managing more than 1.5 trillion yuan, with 90% of funds directed towards technological innovation [4] - The combination of strong industrial foundations and supportive policies creates an ideal innovation chain from basic research to international markets [4] Group 4: Challenges and Future Directions - Despite the achievements, the Greater Bay Area faces challenges, such as insufficient investment in basic research and systemic barriers in collaboration between cities [5] - The innovation intensity ranking for the Shenzhen-Hong Kong-Guangzhou cluster is 45th globally, indicating a need to enhance per capita innovation metrics [5] - Continuous improvement and addressing weaknesses are essential for maintaining competitiveness in technological innovation [5]

Core Insights - The Shenzhen-Hong Kong-Guangzhou innovation cluster has topped the "Global Innovation Index 2025" ranking, marking a significant milestone for the Guangdong-Hong Kong-Macau Greater Bay Area and showcasing China's growing innovation capabilities on the global stage [1][2] Group 1: Innovation Metrics - The ranking evaluates innovation concentration through three core indicators: PCT international patent applications, scientific paper publications, and venture capital transaction volume, with the latter being a new addition this year [1][2] - Over the past five years, the Shenzhen-Hong Kong-Guangzhou cluster has achieved a patent application density of 2,292 per million people, a scientific paper publication density of 3,775 per million, and a venture capital transaction density of 135 per million [1] - The cluster accounts for 9% of global patent applications and 2.4% of global scientific paper publications, ranking second and third globally, respectively [1] Group 2: Factors Contributing to Success - The rise to the top position is attributed to the adjustment of evaluation metrics and the continuous strengthening of technological innovation within the Greater Bay Area [2] - The inclusion of venture capital data in the ranking reflects entrepreneurial activities and innovation financing, highlighting the balanced development of inventors, scientific authors, and venture capital activities in the cluster [2] - The Greater Bay Area benefits from a rich talent pool, with numerous universities and research institutions fostering high-quality local talent and attracting international expertise [3] Group 3: Financial Support and Infrastructure - Financial support, including venture capital, plays a crucial role in transforming favorable conditions into technological innovation strength, with over 1,560 venture capital firms in Shenzhen managing more than 1.5 trillion yuan, 90% of which is directed towards technological innovation [4] - The Guangdong province has seen an increase of 830.55 billion yuan in patent and trademark pledge financing during the "14th Five-Year Plan" period, benefiting 16,700 enterprises [4] - The combination of basic research, application development, industrial incubation, and international market access forms an ideal innovation chain that underpins the rise of technological innovation in the Greater Bay Area [4] Group 4: Challenges and Future Directions - Despite the achievements, the Greater Bay Area faces challenges, including insufficient investment in basic research and systemic barriers to collaboration between cities, particularly between Hong Kong, Macau, and mainland China [5] - The innovation intensity ranking for the Shenzhen-Hong Kong-Guangzhou cluster is 45th globally, indicating a need to enhance per capita innovation metrics [5] - To maintain competitiveness, the Greater Bay Area must focus on improving population quality, increasing research density, and fostering a knowledge-based economy for high-quality development [5]

Core Insights - The 2025 Global Innovation Index (GII) highlights the importance of venture capital in driving innovation activities, with the Shenzhen-Hong Kong-Guangzhou cluster surpassing the Tokyo-Yokohama cluster to claim the top position [3][6] - The introduction of venture capital transactions as a new metric in the GII methodology has significantly influenced the rankings, emphasizing the role of startup activities and innovation financing [6][7] Group 1: Rankings and Performance - The top three innovation clusters in the 2025 GII are Shenzhen-Hong Kong-Guangzhou (1st), Tokyo-Yokohama (2nd), and San Jose-Sunnyvale-Santa Clara (3rd) [4][6] - China leads with the most clusters (24) in the top 100, while the United States follows with 22 clusters [6][7] - The clusters of Beijing (4th), Seoul (5th), and Shanghai-Suzhou (6th) also rank highly, showcasing China's strong innovation ecosystem [6][7] Group 2: Methodology and Metrics - The GII 2025 employs three key indicators: the location of inventors in published PCT patent applications, the authorship of published scientific papers, and the volume of venture capital transactions [7] - The new methodology has narrowed the gap between China and the U.S. in terms of innovation strength, with Shenzhen-Hong Kong-Guangzhou showing superior performance in venture capital transactions [7][8] Group 3: Scientific Contributions - The top three clusters for scientific paper publications are Beijing (4% of global total), Shanghai-Suzhou (2.5%), and Shenzhen-Hong Kong-Guangzhou (2.4%) [7] - The highest PCT application contributions come from Tokyo-Yokohama (10.3%), Shenzhen-Hong Kong-Guangzhou (9%), and Seoul (5.4%) [7] Group 4: Venture Capital Activity - From 2019 to 2023, the top 100 clusters attracted nearly 169,000 venture capital transactions, with San Jose-Sunnyvale-Santa Clara (6.9%), New York City (4.5%), and London (4.4%) leading the way [8] - The data indicates a strong correlation between venture capital activity and innovation density, particularly in leading clusters [8] Group 5: Innovation Density - In terms of innovation density, the top clusters are San Jose-Sunnyvale-Santa Clara (1st), Cambridge (2nd), and Boston-Cambridge (3rd), with Ningde (China) ranking 4th due to a surge in patent applications from CATL [10]

Group 1 - The Shenzhen-Hong Kong-Guangzhou innovation cluster has ranked first in the "World's Top 100 Innovation Clusters" for the first time, surpassing the Tokyo-Yokohama cluster [1] - The cluster has maintained a position in the top two for five consecutive years since 2020, indicating a strong and consistent performance in global innovation [1] - The global top 100 innovation clusters are distributed across 33 economies, with China having the highest number of clusters at 24, followed by the United States with 22 [1] Group 2 - Guangdong province ranks first in China for high-value invention patents, with 367,700 patents, and has a cumulative PCT international patent application volume of 304,700 [2] - The province has been focusing on building a world-class intellectual property strong province, with significant efforts in cities like Guangzhou and Shenzhen [2] - The global innovation index cluster ranking was established in 2017 and evaluates the concentration of world-class innovation activities based on three core indicators: international patent applications, research paper publications, and venture capital transaction volumes [2][3]

Core Insights - The latest Global Innovation Index (GII) report reveals that the Shenzhen-Hong Kong-Guangzhou cluster has surpassed the Tokyo-Yokohama cluster to become the top innovation cluster globally [1][4] - The San Jose-San Francisco cluster has risen three places to rank third, while Beijing, Seoul, and Shanghai-Suzhou follow in the rankings [4] Rankings and Performance - The Shenzhen-Hong Kong-Guangzhou cluster leads with a global share of 2.4% in scientific publications, 9.0% in PCT applications, and 2.9% in venture capital transactions [2][6] - The Tokyo-Yokohama cluster holds a global share of 1.4% in publications, 10.3% in PCT applications, and 2.2% in venture capital [2][4] - The San Jose-San Francisco cluster has a global share of 0.7% in publications, 3.9% in PCT applications, and 6.9% in venture capital [2][6] - London has improved its overall ranking from 21st to 8th, primarily due to its strong performance in venture capital transactions [4] Global Distribution - The top 100 innovation clusters are distributed across 33 economies, with China having the most clusters (24), followed by the United States (22), Germany (7), India (4), and Canada, Japan, and South Korea (3 each) [4][5] Venture Capital Activity - From 2019 to 2023, the top 100 clusters attracted nearly 169,000 venture capital transactions, with San Jose-San Francisco (6.9%), New York City (4.5%), and London (4.4%) leading the way [5][7] - The inclusion of venture capital transactions in the GII methodology has recalibrated the understanding of innovation strength, highlighting the role of clusters in converting scientific research into economic outcomes [7]

Core Viewpoint - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has surpassed the "Tokyo-Yokohama" cluster to become the top global innovation cluster according to the Global Innovation Index (GII) released by the World Intellectual Property Organization (WIPO) [1] Group 1: Innovation Cluster Rankings - The GII cluster ranking was established in 2017 and is based on three core indicators: international patent applications via the Patent Cooperation Treaty (PCT), scientific publications, and the newly added venture capital (VC) transaction volume [1] - The "Shenzhen-Hong Kong-Guangzhou" cluster has ranked second globally for five consecutive years before this year, when the inclusion of VC transactions reshaped the rankings [1] - In 2025, the "Shenzhen-Hong Kong-Guangzhou" cluster is projected to account for 2.9% of global VC transactions, compared to 2.2% for the "Tokyo-Yokohama" cluster [1] Group 2: Performance Metrics - The "Shenzhen-Hong Kong-Guangzhou" cluster holds a global share of 9.0% in PCT applications, ranking second, with Huawei being the top applicant [2][4] - The cluster also has a global share of 2.4% in scientific publications, totaling 194,000 papers, with Sun Yat-sen University being the leading institution [4] - Shenzhen has maintained the highest PCT international patent application volume in China for 21 consecutive years, with 16,300 applications projected for 2024 [4] Group 3: Human Capital and Innovation Ecosystem - The region has successfully transitioned its development engine to focus on high-quality human capital, referred to as the "engineer dividend," to effectively address the "Lewis Turning Point" [4] - The accumulation of large-scale, high-quality human capital, combined with an effective corporate innovation ecosystem, is expected to unleash greater innovation momentum and economic value [4] - Hong Kong's innovation and technology development has seen significant progress, with Huawei's research team in Hong Kong growing to over 700 members [5]