Page 80 - 2023 Special Report on the State of Business in South China
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new breakthroughs in the construction of national market. The government management and service
laboratories and technology innovation centers. capability will be further improved. The GDFTZ
The innovation capacity of enterprises will also be will take a leading position in the evaluation from
improved, and the proportion of R&D expenditure World Bank business environment index.
will take up 1.8% of the revenue.
- Build a high-quality development engine
- The efficiency and effectiveness of with strong capacity for global resource allocation,
innovation will be significantly improved. The innovation and collaboration. By 2025, the total
value-added of high-tech manufacturing industry import and export trade will reach RMB400 billion
will account for over 33% of that of the overall and the accumulated FDI inflows will be about
manufacturing industry. The annual technology US$40 billion and tax revenue will increase by
contracts will reach RMB500 billion. about 5% annually.
- The technology and innovation cooperation - Form a new development model that
among the GBA will be further expanded, and the Guangdong, Hong Kong and Macau can enhance
Belt and Road Initiative will also achieve substantial the level of synergies in terms of economy,
expansion. Five metropolitan areas14 will enhance governance, market factors. Direct investment
their innovation integration significantly. from Hong Kong and Macau will reach about
US$35 billion, and the total number of registered
Special economic zones Hong Kong and Macau-invested enterprises will
be 30,000.
China (Guangdong) Pilot Free Trade Zone
- To basically constructed a platform for in-
The China (Guangdong) Pilot Free Trade Zone depth cooperation among Guangdong, Hong Kong
(GDFTZ) has been at the forefront of the country’s and Macau, a new space for industrial development
reform and opening-up. In the first half of 2022, of Hong Kong and Macau, a highland for innovation
it accomplished RMB200 billion of import and and entrepreneur of Hong Kong and Macau.
export trade and attracted US$4 billion FDI
inflows, accounting for one-fourth of the whole Nansha area of Guangzhou
province. In September 2021, the government of
Guangdong announced the first Five-Year Plan Nansha is an administrative district of the city
for GDFTZ, the specific planning for the next five of Guangzhou in Guangdong province, located at
years includes: Guangzhou’s southern tip and the center of the
Pearl River estuary, adjoining Dongguan to the
Development targets:15 east and Zhongshan to the west. In 2015, an area
of 60km2 in Nansha was incorporated into the
- The role of the highland of institutional China (Guangdong) Pilot Free Trade Zone, which
innovation is more prominent, the level of became one of the three subzones of Guangdong
liberalization and facilitation of investment and Free Trade Zone (the other two are Qianhai Shekou
trade will reach international first-class level, a Area and Hengqin New Area).
multi-level and all-round financial service system
will be formed. Nansha's GDP exceeded RMB200 billion (US$31
billion) in 2021, with 238 projects signed and
- Further optimization of the business completed, by means of a total investment of over
environment and promotion of a fair and open RMB700 billion. Nansha was approved as one of the
first batch of high-level open cross-border trade and
14 Five metropolitan Area: Guangzhou, Shen- investment pilot projects in China, and it was also
zhen, the west bank of the Pearl River Estuary, approved to be a national offshore innovation and
ShanChaoJie, ZhanMao entrepreneurship base for overseas talent, with its
15 Government site of Guangdong, http://www. number of post-doctoral researchers accounting
gd.gov.cn/zwgk/wjk/qbwj/yfb/content/post_3533834. for one-fifth of the city's total. In addition, Nansha
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80
laboratories and technology innovation centers. capability will be further improved. The GDFTZ
The innovation capacity of enterprises will also be will take a leading position in the evaluation from
improved, and the proportion of R&D expenditure World Bank business environment index.
will take up 1.8% of the revenue.
- Build a high-quality development engine
- The efficiency and effectiveness of with strong capacity for global resource allocation,
innovation will be significantly improved. The innovation and collaboration. By 2025, the total
value-added of high-tech manufacturing industry import and export trade will reach RMB400 billion
will account for over 33% of that of the overall and the accumulated FDI inflows will be about
manufacturing industry. The annual technology US$40 billion and tax revenue will increase by
contracts will reach RMB500 billion. about 5% annually.
- The technology and innovation cooperation - Form a new development model that
among the GBA will be further expanded, and the Guangdong, Hong Kong and Macau can enhance
Belt and Road Initiative will also achieve substantial the level of synergies in terms of economy,
expansion. Five metropolitan areas14 will enhance governance, market factors. Direct investment
their innovation integration significantly. from Hong Kong and Macau will reach about
US$35 billion, and the total number of registered
Special economic zones Hong Kong and Macau-invested enterprises will
be 30,000.
China (Guangdong) Pilot Free Trade Zone
- To basically constructed a platform for in-
The China (Guangdong) Pilot Free Trade Zone depth cooperation among Guangdong, Hong Kong
(GDFTZ) has been at the forefront of the country’s and Macau, a new space for industrial development
reform and opening-up. In the first half of 2022, of Hong Kong and Macau, a highland for innovation
it accomplished RMB200 billion of import and and entrepreneur of Hong Kong and Macau.
export trade and attracted US$4 billion FDI
inflows, accounting for one-fourth of the whole Nansha area of Guangzhou
province. In September 2021, the government of
Guangdong announced the first Five-Year Plan Nansha is an administrative district of the city
for GDFTZ, the specific planning for the next five of Guangzhou in Guangdong province, located at
years includes: Guangzhou’s southern tip and the center of the
Pearl River estuary, adjoining Dongguan to the
Development targets:15 east and Zhongshan to the west. In 2015, an area
of 60km2 in Nansha was incorporated into the
- The role of the highland of institutional China (Guangdong) Pilot Free Trade Zone, which
innovation is more prominent, the level of became one of the three subzones of Guangdong
liberalization and facilitation of investment and Free Trade Zone (the other two are Qianhai Shekou
trade will reach international first-class level, a Area and Hengqin New Area).
multi-level and all-round financial service system
will be formed. Nansha's GDP exceeded RMB200 billion (US$31
billion) in 2021, with 238 projects signed and
- Further optimization of the business completed, by means of a total investment of over
environment and promotion of a fair and open RMB700 billion. Nansha was approved as one of the
first batch of high-level open cross-border trade and
14 Five metropolitan Area: Guangzhou, Shen- investment pilot projects in China, and it was also
zhen, the west bank of the Pearl River Estuary, approved to be a national offshore innovation and
ShanChaoJie, ZhanMao entrepreneurship base for overseas talent, with its
15 Government site of Guangdong, http://www. number of post-doctoral researchers accounting
gd.gov.cn/zwgk/wjk/qbwj/yfb/content/post_3533834. for one-fifth of the city's total. In addition, Nansha
html
80
