According to the Shenzhen Municipal Statistics Bureau, Pingshan District’s research and development (R&D) spending reached 11.8% of its regional GDP in 2024. 

R&D investment in the district has grown rapidly, with an average annual growth rate of 28.05% since the beginning of the nation's 14th Five-year Plan (2021-2025), underscoring Pingshan’s emphasis on technological innovation and its strong momentum toward high-quality economic development.

Pingshan’s R&D intensity has risen steadily: 6.69% of regional GDP in 2021, 9.35% in 2022, 9.67% in 2023, and 11.8% in 2024. This continuous rise reflects the district’s sustained increase in innovation investment.

Enterprises are the main drivers of Pingshan’s innovation ecosystem, serving as the core engine for investment and technological breakthroughs. In the first half of 2025, Pingshan-based electric vehicle maker BYD topped the list of A-share companies in R&D spending, posting 30.88 billion yuan. Between 2011 and 2024, BYD’s R&D outlays exceeded its net profit in 13 of those years.

In the second half of 2025, Shenzhen Pregene Biopharma Co. Ltd. signed an exclusive licensing agreement with U.S. cell-therapy leader Kite Pharma valued at up to US$1.64 billion, highlighting international recognition of Pingshan’s biopharmaceutical advances.

Other local firms, including Snibe and United Winners, have continued to increase R&D investment and have won multiple provincial and municipal science and technology awards.

Pingshan is now home to more than 1,000 national-level high-tech enterprises, 61 national-level “little giant” specialized and sophisticated companies, and over 900 registered technology-oriented SMEs. Nearly 50 companies hold leading positions in niche markets at home and abroad, providing powerful momentum for the district’s scientific and technological development.