Indian Passport 24hrs TWOV China Rule ?

Unfortunately, it will not.

As you can see, your itinerary is not a transit, but a return trip in the segment:

Malaysia - Shenzhen - Malaysia.

In order to be eligible for 24 hour visa free transit, you need a scheme like this:

A country - B country (China) - C country.

Your itinerary is:

A country (Malaysia) - B country (China) - A country (Malaysia)

You should alter your itinerary to look: A - B - C or if you want to proceed with your current travel plan, you need a Chinese visa obtained in advance.

Thanks for the reply. I wrongly assumed Passport Country = Country (A)

I think this new Itinerary below will suffice :-
Country (A) = Malaysia - > Country (B) = China -> Country (C) = Thailand

1.Checked online & found may be a minimum layover of 9-10hrs in Country (B) = China Airport may be required to get the 24Hr TWOV approved. Any inputs on that ?

2.By the way, wondering if Hong Kong is considered as country (A) or (C) for this type of visa ?

3.Anyway to get a clear idea/list of shops, amenities available in the restricted transit area of Shenzen Airport for 24hr TWOV travellers ?

Indeed, your new itinerary is an eligible one. It is always necessary to have three countries involved or to simplify, the immediate points before and after China have to be in two different countries or eligible territories (eligible territories: Hong Kong, Taiwan and Macau).

1. 24 hour TWOV is a status. It is not that you apply for that or that you will receive. When you travel through China you are in 24 hour TWOV, of course if you do not exceed 24 hours of layover. The detail you need when you land in China in order to exit the airport is called temporary entry permit. This is something you will have to apply for upon your landing at the transit counter. There you will present your flight itinerary and your accommodation booking if you plan to stay overnight. In case if you intend to remain airside, you do not need to apply for a permit. If you fly on separate tickets, then you have to apply for a permit because you will have to collect your luggage and perform new check-in for your onward flight. Your permit will be always granted if you travel on separate tickets, but not necessarily if you travel on a single ticket unless if your layover is longer than 8 - 10 hours, but even then it depends on discretion of the airport official on the day.

2. Yes, as I have already written, Chinese territories of Hong Kong, Taiwan and Macau act as eligible territories for 24 hour visa free transit.

3. I cannot help you much in this regard, but I suggest you to visit the official airport and other websites that treat the offer of different services/amenities at airports.

Borut

Thanks again for your time and consideration to provide such a beautiful & spot on detailed explanation.