Kishore Mahbubani, former Singaporean ambassador to the U.N., test-drives a BYD car during a recent visit to Shenzhen.
Kishore Mahbubani tries a pair of AR glasses that offer real-time translation, first-person recording, and built-in AI assistance during a visit to RayNeo in Shenzhen.
The 2026 APEC Economic Leaders’ Meeting in Shenzhen could provide fresh impetus for global development, according to renowned scholar and diplomat Kishore Mahbubani. The former Singaporean ambassador to the U.N., who attended the inaugural APEC summit in 1993, recently returned to Shenzhen. Viewing the city through an analytical lens, he described the metropolis as “the fastest-developing city in world history.” Standing atop a skyscraper overlooking Shenzhen Bay, Mahbubani recalled his first view of the area in 1975. During a visit to Hong Kong, he had looked across the border to what was then a small fishing village. “There was nothing here,” he recalled. “All I saw were rice fields, grass, and farmers.” Half a century later, he observed that “Shenzhen’s skyline is comparable to New York.” Often described as a leading voice on Asia’s rise, Mahbubani believes that at the 2026 APEC meeting, Shenzhen will be more than just a host city — it will serve as a reference point for the discussions. “When APEC leaders come here, they’ll be very impressed,” Mahbubani said. “What Shenzhen has accomplished can be a real source of inspiration for the world.” He argued that much of that “inspiration” lies in the city’s industrial transformation, applauding its innovation ecosystem and technological progress. BYD as a lens on SZ’s transformation At BYD, he test-drove the latest car model, experiencing firsthand the Shenzhen-based company’s comprehensive breakthroughs — from technological safety to driving experience. “I might buy a BYD as my next car,” he said. Starting as a battery manufacturer for mobile phones, BYD has grown into a new energy vehicle giant with operations spanning 116 countries and regions. “The story of BYD is part of the larger story of Shenzhen that I have been following — one built on innovation and determination,” he said. Governance synergy a competitive edge Shenzhen’s appeal, Mahbubani suggested, is also reflected in its institutional innovation. At the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub, he visited start-ups and spoke with Hong Kong-funded firms. Monthly rents as low as one yuan per square meter, combined with end-to-end support for entrepreneurs, left a strong impression on him. “This may be the lowest rent in the world,” he remarked. “It’s impressive and worth studying.” To Mahbubani, Shenzhen’s 45 years of development also represent a transformation of the Shenzhen-Hong Kong relationship — from one-way spillover to mutual reinforcement. At the Longhua International Cooperation Center, he examined how government agencies provide one-stop services to address challenges companies face, from registration through expansion. “This model has worked very well in Singapore,” he noted. “And I can see it also works very well in Shenzhen.” For Mahbubani, this reflects a defining feature of China’s special economic zones (SEZs). “It takes a whole-of-government approach. The SEZs are not just promoted by the economic agencies but by all agencies of the government,” he said. “So clearly, Shenzhen has succeeded in creating an ecosystem that is generating a lot of success stories in terms of new enterprises and new entrepreneurs.” A world-leading industrial ecosystem At RayNeo, Mahbubani tested AR glasses that offer real-time translation, first-person recording, and built-in AI assistance. Founded just three years ago, RayNeo has already secured close to 40% of the global market share. “What surprises me most is how advanced the industries in the Guangdong-Hong Kong-Macao Greater Bay Area have become. Clearly, in some industries, you’re not following other countries. You are ahead of other countries,” he said. At a time when global growth is slowing, Mahbubani said Shenzhen offers a different way of thinking about development. “Western countries no longer seem to place progress at the center,” he observed. “But 88% of the world’s population lives outside the West, and they often live in poor countries.” In his view, Shenzhen’s transformation provides a visible and analyzable reference point for developing countries. “What Shenzhen has accomplished can be a real source of inspiration for countries to see how much progress you can make in such a short period of time.”