Guangdong Province, the economic powerhouse in south China, has achieved remarkable results in high-tech development, as the number of high-tech enterprises in the province has exceeded 75,000 by the end of 2023, according to local authorities. The province also ranked first in the country for eight consecutive years in terms of the number of high-tech enterprises.
Guangdong’s high-tech sector has shown strong vitality and competitiveness, as the province’s estimated annual research and development (R&D) expenditure topped 460 billion yuan (about 64.8 billion U.S. dollars) in 2023, accounting for 2.8% of its gross domestic product (GDP). The province also boasted 1.35 million R&D personnel and more than 665,000 valid invention patents, as well as 23,700 international patent applications via the Patent Cooperation Treaty (PCT).
Guangdong fosters a favorable environment for high-tech innovation
Guangdong has fostered a favorable environment for high-tech innovation, by implementing various policies and measures to support the development of high-tech enterprises and industries. The province has established a comprehensive system of financial incentives, tax preferences, subsidies, and preferential loans for high-tech enterprises, as well as a mechanism of evaluation and supervision to ensure the quality and efficiency of the high-tech sector.
Guangdong has also built a number of high-tech zones, industrial parks, and innovation platforms, to provide infrastructure, services, and resources for high-tech enterprises and projects. The province has also promoted the integration and collaboration of high-tech industries with other sectors, such as manufacturing, trade, and services, to create a synergistic effect and enhance the overall competitiveness of the provincial economy.
Guangdong leads the country in emerging high-tech fields
Guangdong has taken the lead in the country in emerging high-tech fields, such as information technology, biotechnology, new energy, new materials, and aerospace. The province has cultivated a number of leading high-tech enterprises, such as Huawei, Tencent, ZTE, BYD, and DJI, which have made significant contributions to the national and global innovation landscape.
Guangdong has also been at the forefront of the development of the Guangdong-Hong Kong-Macao Greater Bay Area, which is a national strategy to build a world-class city cluster and a global innovation hub. The province has strengthened its cooperation and exchange with Hong Kong and Macao, as well as other regions and countries, to share resources, markets, and opportunities, and to jointly advance the high-tech development of the Greater Bay Area and beyond.
