Land reform injects new vitality to economic growth in South China
Guangzhou: Once a testing ground for China’s reform and opening-up, the Pearl River Delta in south China is embracing yet another reform to make better use of rural land for higher-quality development.
What stands out in this land reform is Shunde District in the city of Foshan, south China’s Guangdong Province, which recorded a gross domestic production (GDP) of over 150 billion yuan (around US$21bn) in the first half of 2019, up 7.1 per cent year on year. Despite the impact brought by the Sino-U.S. trade friction, companies in Shunde still enjoyed robust growth in the first half of the year, including Midea Group, a leading home appliances maker in China, Country Garden, the country’s property giant, and more. Shunde’s success should be attributed to the transformation of rural industrial parks and land rearrangement in recent years, according to experts.