Based on the panel data of the Shenzhen-Hong Kong Urban Architecture Bi-City Biennale, this paper studies the exhibition-driven urban renewal with the help of frequency time series analysis, word frequency analysis, co-occurrence analysis, single factor analysis of variance, and linear regression analysis. The paper demonstrates that the exhibition focuses on “urban symbiosis”: “derivative” research is carried out from two aspects: urban development is the symbiotic soil for the birth of the exhibition, and the exhibition thinks about how urban villages and cities co-exist. This paper finally demonstrates the interaction between the exhibition and the city and the relationship between their mutual influence and integration. It shows that exhibition-driven sustainable urban renewal is positive.