Guangdong Showcases Openness, Confidence, and Leadership in Economic Modernization
This press release features multimedia. View the full release here:
A plenary meeting of the Guangdong Delegation to the Third Session of the 14th National People's Congress takes place on the afternoon of March 6, drawing 267 journalists from 107 domestic and international media organizations. (Photo: Business Wire)
Guangdong's Industrial Strategy and Innovation Leadership
When asked about Guangdong's approach to building a modern industrial system, Huang Kunming emphasized the province's commitment to integrating technological innovation with industrial advancement. Guangdong boasts a comprehensive industrial base covering all 31 major manufacturing sectors, with nine trillion-yuan-level industrial clusters.
Innovation and infrastructure remain key drivers, ensuring rapid commercialization of research and development. In 2024, Guangdong's trade volume reached 9 trillion yuan ($1.2 trillion), reinforcing its global economic position. To strengthen its talent pool, the province launched the Action Plan for Attracting a Million Talents to South Guangdong, aiming to recruit one million college graduates for employment and entrepreneurship opportunities.
Deepening Integration in the Greater Bay Area
Addressing collaboration with Hong Kong and Macao, Wang Weizhong highlighted the Greater Bay Area's economic significance. Despite covering less than 1% of China's land and housing only 6% of its population, the region contributes one-ninth of the national GDP. In 2024, the Greater Bay Area's GDP reached 14.5 trillion yuan ($2 trillion), marking a 3.7 trillion yuan ($511 billion) increase since 2018.
Hengqin continues to be a pivotal platform for Macao's economic diversification. From 2009 to 2024, its GDP soared from 285 million yuan ($39 million) to 53.8 billion yuan ($7.4 billion), with Macao-funded enterprises increasing more than 400-fold. Today, high-tech industries—including new materials, new energy, advanced equipment, and biomedicine—comprise 59.4% of Hengqin's industrial output.
Guangdong's Commitment to Openness and Global Engagement
The 'Open Day' format provided a transparent platform for Guangdong to showcase its economic progress and global partnerships. As China's top economic province, Guangdong reaffirmed its leadership by embracing innovation, openness, and sustainable growth, reinforcing its pivotal role in national and global development.
KEYWORD: HONG KONG CHINA MACAU ASIA PACIFIC
SOURCE: Guangdong Province
Copyright Business Wire 2025.
PUB: 03/08/2025 08:41 PM/DISC: 03/08/2025 08:42 PM
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