Page 72 - 2023 Special Report on the State of Business in South China
P. 72
Fig 6 Guangdong is the most attractive destination for foreign investment in China
Source: Wind, Statistics Bureau of Guangdong, EY analysis Key economic targets:
Recent Policies and Reforms - To achieve a new level economic
development, with a more optimized economic
The Outline of the 14th Five-Year Plan structure, and a significant increase in the
(2021-2025) for Guangdong Economic and role of domestic demand as the main driver of
Social development and the Long-Range economic growth. The province's GDP will grow
Objectives Through the Year 20359 at an average annual growth of about 5.0%,
and by 2025 the GDP will reach about RMB14
On 25 April 2021, the Outline of the 14th Five- trillion. By 2035, basic socialist modernization
Year Plan (2021-2025) for Guangdong Economic and will be achieved.
Social Development and the Long-Range Objectives
Through the Year 2035 was released. It reviews the - The construction of an international
achievements of the 13th Five-Year Plan, analyzes science and technology innovation center in the
the domestic and international environment that GBA achieves phased accomplishment. National
Guangdong will face in the 14th Five-Year Plan and provincial laboratories, science and technology
period, and sets detailed strategies and targets for infrastructure and other major innovation platforms
the economic and social development of the whole will be accelerated, the research and development
province. Specifically: (R&D) investment continues to increase, with a
number of core technologies make breakthroughs,
Core principle: Dual-zone leading and the capacity for independent innovation will be
significantly enhanced.
Take the opportunities of developing the GBA
and Shenzhen Socialist Pioneering Demonstration - The advanced manufacturing bases
Zone. The GBA is the main driver to lead the high- and manufacturing innovation clusters will be
quality provincial and national development, formed. Modern service industry and advanced
and Guangdong will proactively participate in the manufacturing industry will be deeply integrated,
dual circulation strategy, to become a strategic strategic emerging industries will continue to
forefront of the new development pattern, to grow. Digitalization creates significant impacts
provide stronger support for the comprehensive on industrial development and the value-added
construction of socialist modernization. of core digital economy will account 20% of
regional GDP.
9 Government site of Guangdong, http://www.
gd.gov.cn/zwgk/wjk/qbwj/yf/content/post_3268751.
html
72
Source: Wind, Statistics Bureau of Guangdong, EY analysis Key economic targets:
Recent Policies and Reforms - To achieve a new level economic
development, with a more optimized economic
The Outline of the 14th Five-Year Plan structure, and a significant increase in the
(2021-2025) for Guangdong Economic and role of domestic demand as the main driver of
Social development and the Long-Range economic growth. The province's GDP will grow
Objectives Through the Year 20359 at an average annual growth of about 5.0%,
and by 2025 the GDP will reach about RMB14
On 25 April 2021, the Outline of the 14th Five- trillion. By 2035, basic socialist modernization
Year Plan (2021-2025) for Guangdong Economic and will be achieved.
Social Development and the Long-Range Objectives
Through the Year 2035 was released. It reviews the - The construction of an international
achievements of the 13th Five-Year Plan, analyzes science and technology innovation center in the
the domestic and international environment that GBA achieves phased accomplishment. National
Guangdong will face in the 14th Five-Year Plan and provincial laboratories, science and technology
period, and sets detailed strategies and targets for infrastructure and other major innovation platforms
the economic and social development of the whole will be accelerated, the research and development
province. Specifically: (R&D) investment continues to increase, with a
number of core technologies make breakthroughs,
Core principle: Dual-zone leading and the capacity for independent innovation will be
significantly enhanced.
Take the opportunities of developing the GBA
and Shenzhen Socialist Pioneering Demonstration - The advanced manufacturing bases
Zone. The GBA is the main driver to lead the high- and manufacturing innovation clusters will be
quality provincial and national development, formed. Modern service industry and advanced
and Guangdong will proactively participate in the manufacturing industry will be deeply integrated,
dual circulation strategy, to become a strategic strategic emerging industries will continue to
forefront of the new development pattern, to grow. Digitalization creates significant impacts
provide stronger support for the comprehensive on industrial development and the value-added
construction of socialist modernization. of core digital economy will account 20% of
regional GDP.
9 Government site of Guangdong, http://www.
gd.gov.cn/zwgk/wjk/qbwj/yf/content/post_3268751.
html
72
