Southern province practicing Chinese-style modernization
Over the past year, Guangdong in South China has fueled the practice of Chinese-style modernization in such aspects as constructing the Guangdong-Hong Kong-Macao Greater Bay Area, opening up a new panorama for coordinated development between urban and rural areas, and upholding the real economy as the foundation, according to the province’s latest government work report.
It was delivered by Guangdong Governor Wang Weizhong at the second session of the 14th Guangdong Provincial People’s Congress, which opened on Tuesday.
Wang said the year 2023 marked the beginning of a comprehensive implementation of the spirit of the 20th National Congress of the Communist Party of China. It was a year of economic recovery and development following the three-year battle against the COVID-19 pandemic.
“Guangdong anchors the goal of building a strong country and national rejuvenation, focusing on the primary task of high-quality development and the strategic mission of building a new development pattern. It continues to lead the nation in the comprehensive deepening of reforms, expanding highlevel opening-up, enhancing selfreliance in science and technology, and building a modern industrial system,” Wang said.
He emphasized the need to work hard, bolster Chinese-style modernization, achieve outstanding results, and contribute to the 75th anniversary of the founding of the People’s Republic of China.
In 2023, Guangdong’s GDP reached 13.57 trillion yuan ($1.89 trillion), up 4.8 percent year-onyear, making it the first province in the country to surpass 13 trillion yuan. Despite challenges, the province’s foreign trade achieved positive growth and the added value of industries above designated size exceeded 4 trillion yuan.
The number of operating entities in the province exceeded 18 million, with a net increase of 1.73 million throughout the year, including more than 10 million household businesses and 7.8 million enterprises, accounting for one-seventh of the national total.
The added value of Guangdong’s manufacturing sector accounted for 32.7 percent of the province’s GDP in 2023, while the added value of the financial industry exceeded 1.2 trillion yuan.
The Shenzhen-Hong KongGuangzhou science and technology cluster grabbed second place in the Top 100 Science and Technology Clusters for four consecutive years, according to the World Intellectual Property Organization. The province’s research and development expenditure reached approximately 460 billion yuan and the comprehensive innovation capability has been the best in the country for seven consecutive years.
The per capita disposable income of rural residents in Guangdong increased by 6.5 percent, narrowing the income gap between urban and rural residents to 2.36:1. The province has improved the economic outlook for villages with annual incomes below 100,000 yuan.
The annual production of new energy vehicles in the province reached 2.53 million; one in four new energy vehicles in the country is made in Guangdong. Construction has begun on 100 new energy storage projects, with a total investment of 229 billion yuan. It includes the second phase of CATL’s plant in Zhaoqing. The company is China’s largest automotive lithium-ion battery maker.
Guangdong incubated a total of 132 national-level manufacturing champions and 1,528 “little giant” enterprises with specialized expertise and innovation. Nineteen enterprises entered the Fortune Global 500 list. The total number of A-share listed companies and the number of newly listed companies in China and abroad ranked first nationally.
In 2023, Guangdong aimed to build a high-level talent hub in the Bay Area, with 220 disciplines from 28 universities including the top 1 percent on the Essential Science Indicators list.
It (Guangdong) continues to lead the nation in the comprehensive deepening of reforms, expanding high-level opening-up, enhancing selfreliance in science and technology, and building a modern industrial system.”
Wang Weizhong, Guangdong governor