Huaqiangbei Electronics District Turnover Surge | Generated by AI
Question: What is the historical annual turnover of Huaqiangbei (HQB) over the last decades?
Answer:
Huaqiangbei (often abbreviated as HQB), Shenzhen’s famous electronics commercial district known as “China’s Electronic First Street,” has seen significant growth in its annual turnover over the past decades, reflecting its evolution from a components market to a global tech hub.
Historical data on exact annual figures is limited and inconsistent in public sources, with varying estimates depending on whether they refer to core electronics markets, the broader commercial area, or including exports. However, reliable recent reports indicate a major increase:
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In the 2010s and early 2020s, estimates for the electronics-focused turnover were often around 200 billion yuan (approximately $28-30 billion USD), covering thousands of businesses in components, gadgets, and related trade. This aligns with the ~200 billion yuan (~$28 billion) figure mentioned in your query for recent years.
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By 2024-2025, after upgrades, transformations (e.g., removing traditional “one-meter counters” for modern experiential spaces), and a shift toward higher-value products like AI devices, drones, and smart hardware, the annual transaction volume (trading amount) has reportedly broken through 400 billion yuan (over $55 billion USD). This includes exports to over 190 countries and strong growth in overseas sales (e.g., AI glasses up 270% in the first half of 2025).
Earlier data (pre-2010s) is scarcer, but the market boomed in the 2000s with the rise of shanzhai (copycat) products and smartphone components, likely reaching hundreds of billions as it became the world’s largest electronics distribution center. Some older sources mention lower figures (e.g., 20-25 billion yuan), but these appear to refer to specific sub-markets or outdated/outlier estimates rather than the full district.
The growth from ~200 billion to over 400 billion yuan in recent years highlights Huaqiangbei’s successful adaptation amid global supply chain shifts and China’s push for new-quality productive forces.
References:
- https://www.szdag.gov.cn/gzdt/gzdt/content/post_1615342.html
- http://www.news.cn/fortune/20250825/2dff6f2aa52146d8b014ad21f2e36959/c.html
- https://www.newsgd.com/node_5c070fdd03/ea3946bdf5.shtml