GUANGZHOU, China, Jan. 28, 2023 /PRNewswire/ -- The Guangdong government held a grand conference
on high-quality development on January
28, the first working day after the Chinese New Year
holiday, and gathered more than 25 thousand major government
officials and business leaders online and offline to share their
plans for 2023.
"High-quality development is an inevitable path for Guangdong to achieve modernization. The
province has a large population and limited resources, which means
it's unwise to compete with its global counterparts on cheap land
supply, product price and labor cost," Huang Kuiming, Party Chief
of Guangdong, addressed at the
To pursue high-quality development, Wang Weizhong, Governor of
Guangdong, highlighted critical
projects and platforms construction, enhancement of the real
economy and the manufacturing industry, coordinated development
between urban and rural areas, enhancement of the efficiency of
finance serving the real economy, expansion of all-around opening
up, creation of an international, market-oriented, and law-based
More specific policies and plans have been announced at the
event, echoing the call on high-quality development.
Ai Xuefeng, Director General of Guangdong's Development and Reform Commission,
said that in 2023, Guangdong has
arranged 1530 provincial key projects with a total investment of
8.4 trillion RMB. The annual planned
investment will reach 1 trillion
Guangdong has been known for
its manufacturing industry worldwide with the industrial output
exceeding 16 trillion RMB. More than
700 thousand manufacturers have settled in the province.
Tu Gaokun, Director General of Guangdong's Industry and Information
Technology Department, said the province will boost the growth of
industrial investment to above 10 percent and help 9000 industrial
enterprises to upgrade technologies in 2023.
"Guangdong will focus on the 20
strategic industries and enhance the 8 industrial clusters with
1 trillion RMB output, that is,
electronic information, green petrochemicals, smart home
appliances, advanced materials, modern light industry and textiles,
software and information services, modern agriculture and food,
automobiles," said Tu.
To boost foreign economy, Zhang Jinsong, Director General of
Guangdong's Commerce Department,
said that Guangdong is rolling out
a slew of integrated measures in foreign trade, foreign investment,
foreign outsourcing, foreign economic cooperation, and overseas
Zhang indicated that the province had formed a working mechanism
of "one-to-one" services to the top 500 foreign trade enterprises
and key foreign investment projects. The province will help deal
with problems in financing, employment, land use, and energy use
timely and further improve and implement the policy of rewarding
and subsidizing foreign investment.
As for the highly requested Canton Fair, Chu Shijia, Director of
the China Foreign Trade Center, announced that the 133rd Canton
Fair will resume its offline exhibition and is scheduled to open on
April 15. Invitations were sent to
950,000 domestic and foreign purchasers, 177 international
partners, 224 overseas embassies and consulates, 67 consulates
general in Guangzhou, and more
than 50 domestic investment partners.
Representatives of both domestic and foreign-funded enterprises
in such fields as electronics, petrochemical and energy gave
presentations and elaborated their plans to further investment in
Guangdong this year.
Xu Min, CEO of P&G Greater
China, said the American multinational consumer goods corporation
will move its product supply chain center from Europe to Guangdong，which will cover the
import and export businesses in the RCEP and Belt and Road markets.
P&G entered China in 1988 and
is headquartered in Guangdong.
Thus far, China has become the
second largest regional market of P&G while Guangdong has the company's largest production
Li Xingjun, GM of ExxonMobil (Huizhou) Chemical Company, revealed that his
company would invest in a world-class R&D center in the Daya
Bay petrochemical industrial park in Huizhou. Also, the company is considering
establishing a ten-million-ton carbon capture, utilization and
storage center in Daya Bay Petrochemical Zone.
As one of the major foreign-funded projects in China, ExxonMobil Huizhou Ethylene Project has
fully funded 1.42 billion USD in
place, and the total fixed assets investment reached 17.55 billion RMB. Currently, there are 6350
staff members on the project site.
Zheng Yongnian, professor at the Chinese
University of Hong Kong, Shenzhen, said high-quality development has
been highlighted multiple times in major meetings of Guangdong since December, 2022. Now that all
the plans are put in place, the government held the conference to
ask its officials to put everything into action and achieve all the
"It shows the ambition of Guangdong,
China's economic power house, to lead development after
China eased the travel restriction
on inbound passengers and highlights the areas that the government
might formulate more advantageous policies for future development.
It presents great opportunities to global investors and job
seekers," said Zheng.