BUSINESS

GUANGDONG PROVINCE PROMOTES QUALITY DEVELOPMENT, SPEARHEADING MODERNISATION

02/04/2024 02:48 PM

KUALA LUMPUR, April 2 (Bernama) -- Guangdong Province Governor, Wang Weizhong recently detailed the region's strategies for achieving high-quality development, highlighting their role in driving the province's modernisation efforts.

At the "High-Quality Development" press briefing hosted recently by the Information Office of the State Council of China, Wang discussed Guangdong's approach to integrating modern development practices with local characteristics, emphasising the importance of technological innovation and industrial growth in improving development quality.

According to a statement, Wang noted the province's practice of initiating its annual development strategy with a conference focused on high-quality development, starting immediately after the Spring Festival Holidays for the past two years.

Known for its significant economic output, Guangdong reported a regional gross domestic product (GDP) of 13.57 trillion Chinese yuan in 2023, approximately 10 per cent of China's total, maintaining its leading position nationally. (100 Chinese yuan = RM65.66)

Home to over 18 million business entities including 7.8 million enterprises, the province plays a crucial role in China's economic landscape as it also worked towards regional integration, particularly with Hong Kong and Macao, to enhance the Greater Bay Area's connectivity and economic potential.

Notable projects include the Guangdong-Macao In-Depth Cooperation Zone in Hengqin and upcoming infrastructure developments such as the Shenzhen-Zhongshan Tunnel, aimed to improve regional transportation links.

Meanwhile, in terms of innovation, Guangdong is home to a large number of industrial and high-tech enterprises, leading in areas such as PCT international patent applications and other intellectual property metrics, reflecting the province's focus on fostering an environment conducive to innovation.

In addition, environmental sustainability and public welfare have also been areas of focus for Guangdong as it has reported improvements in air quality and forest coverage, alongside efforts towards carbon neutrality and enhancing biodiversity.

-- BERNAMA


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