Building an international center for innovation and entrepreneurship is a critical element of Shenzhen’s overall strategy of global city development. By comparing key indicators with advanced global cities including Beijing, Shanghai, Hong Kong, Singapore, New York and London, Shenzhen is found to be at the forefront of R&D investment, international patent applications, and frequency of entrepreneurial activities, indicating Shenzhen’s enormous potential to be an innovation and entrepreneurship center of the world. Built upon the foundation laid in the past, Shenzhen should be continuously committed to creating an innovation-friendly environment, building service-oriented government, strengthening cooperation with Hong Kong, attracting intellectual, financial, and informational capitals from the global, and enhancing the city’s international influence and competitiveness.