Industry News

Why Guangdong's GDP leads the country

2020-05-12
Recently, the GDP data of various provinces, autonomous regions and municipalities across the country have been released one after another. In 2016, Guangdong's economy was generally stable, with a regional GDP of 79.305 billion yuan, an increase of 7.5% year-on-year. The total GDP ranked first in the country for 28 consecutive years.

In the increasingly fierce regional competition, how can Guangdong's GDP continue to lead the country? Behind the total GDP of 7.95 trillion yuan, what is supporting China's largest economy to run fast?

The improvement of the real economy in terms of quality and efficiency, especially smart manufacturing upgrades and accelerated innovation, is considered by experts to be the core password for Guangdong's GDP for 28 consecutive years. Wang Haifeng, director of the International Economics Comprehensive Research Office of the Foreign Economic Research Institute of the National Development and Reform Commission, said that Guangdong's GDP has a relatively high gold content, high technology content, service industry share, and a high level of openness. The resource and environmental costs consumed by GDP growth are relatively low.

Regional competition Guangdong's economic aggregate matches Spain's

According to the statistics of the statistics department, the top six economic rankings of provinces, autonomous regions and municipalities in 2016 have not changed compared to the past, namely Guangdong, Jiangsu, Shandong, Zhejiang, Henan and Sichuan.

From the data point of view, Guangdong's economic aggregate ranks first in the country, and the GDP advantage of Guangdong and Jiangsu has expanded year-on-year. In 2016, the economic gap between Guangdong and Jiangsu expanded from 269.617 billion yuan in 2015 to 342.588 billion yuan.

Even on a global scale, Guangdong's economic aggregate is also in a leading position. Comparing the data of the International Monetary Fund, the reporter found that if Guangdong is regarded as a separate economy, Guangdong's total economic output is close to Spain in 2015 and 2016, ranking about 15th in the world.

Based on the 2015 data (in RMB), looking at the total nominal GDP of Guangdong cities on the world coordinates, Guangzhou GDP catches up with Singapore, Shenzhen GDP catches up with Hong Kong, and Foshan GDP catches up with European cities Amsterdam, Dongguan GDP surpassed Las Vegas, the "gambling city". In terms of economic aggregate, Zhongshan and Geneva, Jiangmen and Edinburgh go hand in hand, and Zhaoqing overtaking in the corner is equal to Liverpool, the "town of the industrial revolution."

Powerful engine Four Bay Areas in the world Guangdong, Hong Kong and Macau Bay Area occupy a seat

Behind Guangdong ’s economic total of 7.95 trillion yuan, the nine cities of the Pearl River Delta have accelerated and optimized their development and become a well-deserved "main force."

If Hong Kong, Macau and the Pearl River Delta 9 cities are taken as a whole, the GDP of the Guangdong-Hong Kong-Macao Greater Bay Area urban agglomeration reached US $ 1.24 trillion in 2015, surpassing Spain ’s US $ 1.20 trillion and approaching Russia ’s US $ 1.32 trillion. At present, there are three famous Bay Areas in the world-Tokyo Bay Area, New York Bay Area, and San Francisco Bay Area. They rely on a strong financial industry and a developed technology industry. Their total GDP and GDP per capita are extremely high. Now with the Guangdong-Hong Kong-Macao Greater Bay Area, there will be four major Bay Areas in the world.

It is worth noting that a wave of high-end advanced projects is accelerating from the Pearl River Delta to the east, west, and north of Guangdong. In Heyuan High-tech Zone, more than 180 kilometers northeast of Shenzhen, the first phase of the ZTE Heyuan Production R & D Training Base was completed and put into trial operation, adding a new engine to Heyuan ’s economic development.

This year, the work report of the Guangdong Provincial Government proposes that "9 + 6" integration and development may bring new changes to the regional GDP structure in the future. Guangdong will build a Greater Pearl River Delta Economic Zone composed of 9 cities in the Pearl River Delta and 6 cities in the Pearl River Delta, Shaoguan, Heyuan, Shanwei, Yangjiang, Qingyuan, and Yunfu, to promote the integrated development of the Pearl River Delta and the Pearl River Delta.

What kind of new world will the Pearl River Delta and the integration of Guangdong, East, West and North develop?

According to Lin Jiang, deputy director of the Hong Kong and Macao Pearl River Delta Research Center at Sun Yat-sen University, the most important thing for the integrated development of "9 + 6" is to highlight the "huddle" of the two cities of Guangzhou and Shenzhen, making it a "9 + 6" The core hub of the country, play a leading role, coordinate the development and expansion of the radiation capacity of the Pearl River Delta, and then turn the Pearl River Delta into the fourth largest Bay Area economy in the world.

"It is foreseeable that after the vitality of '9 + 6' is stimulated, Guangdong will continue to lead China's economic development as a leader for a long time to come." Wang Haifeng said.

Innovation leads high-tech enterprises to accelerate Guangdong's economy

As a national pillar industry, some high-end equipment in the electronics manufacturing industry has long relied on imports. Today, Shenzhen Hanzu Motor Technology Co., Ltd., established in 2005, is breaking this situation.

With a key technology in electronics manufacturing, the domestic market share of Han's motor-related products is at the forefront of the industry and is exported to Europe, America, Japan and other places. "Basically all of the company's gross profit is invested in research and development. Han's motor has more than 500 employees, of which more than 300 are engaged in research and development." Wang Guangneng, co-founder and deputy general manager of Han's motor, said.

More and more high-tech enterprises such as Han's Motor are rapidly rising in Guangdong. Behind the beautiful transcripts of Guangdong's GDP leading the way, two data have attracted people's attention.

The first data is the number of high-tech enterprises. The Guangdong Innovation and Development Conference held on February 7 this year revealed that in 2016, the number of high-tech enterprises in Guangdong reached 19,857, ranking first in the country.

The number of high-tech enterprises and the total GDP of Guangdong rank first in the country, reflecting from the side that the economic growth of Guangdong is not only an increase in quantity but also an improvement in quality.

Among them, the number of high-tech enterprises in the Pearl River Delta reached 18,880, an increase of 78.8% over 2015. The number of Shenzhen and Guangzhou reached 8037 and 4744 respectively. The stock of high-tech enterprises in Guangzhou, Dongguan, Zhongshan and other cities has achieved rapid growth of more than 100%.

The second data is the added value of the private economy. In 2016, the added value of Guangdong's private economy exceeded 4 trillion yuan. According to preliminary calculations, Guangdong realized a private economy value added of 4,257.876 billion yuan for the whole year, which is 7.8% higher than the same period of the previous year in terms of comparable prices.

Why are these two data important?

In the view of experts, this proves that the new kinetic energy of Guangdong's economic growth continues to increase, and it also reflects that Guangdong leads the country not only in regional GDP but also in structural adjustment.

"The increase in the number of high-tech enterprises in Guangdong reflects the new trend of economic transformation and upgrading." In Wang Haifeng's view, the technology guiding force behind the number of high-level enterprises, coupled with the market grasping power behind private enterprises, the combination of the two will burst out huge energy. "Guangdong's innovation is enterprise-led innovation, which is where Guangdong currently leads the country in innovation and entrepreneurship."

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