The Shenzhen-Hong Kong-Guangzhou innovation cluster has maintained its status as the world’s leading innovation hub for the second consecutive year, according to the 2026 Global Innovation Index released by the World Intellectual Property Organization (WIPO) on September 25. The ranking evaluates local concentrations of innovation activity based on international patent filings, scientific publications, and venture capital investments.
Following the Shenzhen-Hong Kong-Guangzhou cluster, the top innovation hubs were Tokyo-Yokohama, San Jose-San Francisco, Seoul, and Beijing. The cluster recorded 2,259 patent applications, 4,060 scientific publications, and 138 venture capital deals per million inhabitants over the past five years. Huawei Technologies led patent filings within the cluster, while Sun Yat-sen University in Guangzhou was the top institution for scientific publications.
China continues to dominate global innovation with 25 clusters in the ranking, followed by the United States with 20. Germany had seven clusters, while the United Kingdom and India each had four. Separately, the Innovation Intensity Ranking, which measures innovation output per capita, placed San Jose-San Francisco at the top, while Shenzhen-Hong Kong-Guangzhou ranked 44th, improving one position from the previous year.
A government spokesman highlighted the ranking as confirmation of the Greater Bay Area’s “outstanding innovative capacity” and robust financing ecosystem for innovation and technology (I&T). Authorities emphasized plans to align with China’s 15th Five-Year Plan, deepen regional collaboration, and promote strategic positioning as an international I&T center. Efforts to enhance the innovation ecosystem include expanding the original grant patent system and introducing a patent box regime that offers tax incentives on intellectual property income.
The region has seen significant growth in start-ups, with the number rising from over 1,500 in 2015 to more than 5,200 last year. Investments in infrastructure continue, with over 100 companies and institutions moving into the Hong Kong-Shenzhen Innovation and Technology Park, which opened in December 2025. In addition, the San Tin Technopole Company was established in June 2026 to develop 210 hectares of dedicated I&T land.
The government also pointed to Hong Kong’s vibrant private equity market, which manages nearly US$250 billion in assets. Support for venture financing has expanded to cover all stages of start-up development, from early research to global expansion.
Victor Kwok Hoi-kit, deputy research director of Our Hong Kong Foundation, noted that venture capital deals per million inhabitants only saw a slight increase from 135 in 2025 to 138 in 2026, suggesting room for improvement in financing activity. Kwok stressed the importance of leveraging Hong Kong’s role as an international financial center to attract more global investment through government-guided funds and international venture capital networks.
Francis Fong Po-kiu, honorary president of the Hong Kong Information Technology Federation, underscored Hong Kong’s role as a key bridge within the Shenzhen-Hong Kong-Guangzhou cluster, facilitating collaboration and integration among the region’s innovation players.