While implementing the "culture-based city" strategy, Shenzhen has upgraded the importance of cultural industry to a higher level. Since 2005, the cultural industry has become the fourth pillar industry following high technology, finance and logistics industries.

Shenzhen began to host the China (Shenzhen) International Cultural Industry Fair (ICIF) in 2004. Jointly organized by the Ministry of Culture, Ministry of Commerce, State Administration of Radio, Film and Television, General Administration of Press and Publication, Guangdong Provincial Government and Shenzhen Municipal Government, the fair is aimed at taking advantage of Shenzhen's cultural industry, enhancing the development of China's cultural industry and expanding the export of China's cultural products. The fair is held in Shenzhen in May every year. The third China (Shenzhen) International Cultural Industry Fair (CICIF) was held in May 2007, attracting more than 1.7 million visitors and clinching deals worth 46.7 billion yuan. In May 2008, the fourth CICIF will be hosted in Shenzhen, and there will be many countries and cities, including Berlin, Germany, participating the fair.

The Shenzhen Municipal Cultural Industry Development Office was set up in December 2005. It is China's first cultural industry administration office under the supervision of a local government. Shenzhen is now drafting the "12351" strategy, which means establishing 10 key innovative research and development centers and public service platforms by 2010, fostering 20 brands in the cultural industry enjoying high national influence, setting up 30 leading enterprises with competitiveness in the industry and economic profits, building 50 characteristic industrial parks and bases, and cultivating 100 pioneering figures and talents in the cultural industry. The 2020 Strategy and Plan of Shenzhen Cultural Industry will be unveiled soon.