Shenzhen Tech Startups Target Foreign Markets Ahead of APEC Forum
Shenzhen tech startups are prioritizing overseas exports to offset weak domestic spending as the city prepares to host the APEC forum on November 18-19.
Shenzhen is preparing to host the Asia-Pacific Economic Cooperation (APEC) forum on November 18-19, which will include a visit from U.S. President Donald Trump. The event occurs as China faces international pressure over a trade surplus that exceeded US$1 trillion during the first 10 months of 2026.
InnoX, a state-backed hardware incubator, is leading a strategic push for tech startups to target wealthy overseas markets in sectors such as robotics, aerospace, and cybersecurity. This export-driven shift is a response to a domestic property crisis and stagnant consumer spending. While Shenzhen's exports grew 18.5 percent, retail sales increased by only 2.3 percent.
Startups continue to pursue foreign buyers despite high tariffs from the United States and the European Union. Some firms have relocated portions of their production to Southeast Asia to avoid EU levies, including caps on hybrid car imports. Carol Yu, co-founder of InnoX, noted that domestic consumption has been downgraded and that the ability and willingness to pay remains stronger in overseas markets.
