Located at the centre of the Pearl River Delta, Guangzhou is the capital city of the Guangdong province and has a large and flourishing economy. It is China’s leading commercial port and the centre of economic activities in the region. The city serves as a major business hub in Southern China and has been ranked the 5th most competitive city in China by the Chinese Academy of Social Sciences in 2014. It is well-connected to other parts of the country and national transportation network through highways and railways.
The top industrial sectors of the region include automobiles, electronics and petrochemicals. It is one of the top automobile manufacturing hubs of China.
Electronic giants like Panasonic, Sony, Ericsson and Haier have set their headquarters in the region.
Major industrial parks and development zones in the region include:
1. Guangzhou Development District (including Guangzhou Economic and Technological Development Zone, Guangzhou High-tech Industrial Development Zone, Guangzhou Export Processing Zone and Guangzhou Free Trade Zone) (state-level)
2. Guangzhou Nansha Economic and Technological Development Zone (including Guangzhou Nansha Export Processing Zone) (state-level)
The region has seen rapid development in the past few years, with gross domestic product crossing 1,810 billion Yuan in the previous year. It is the third largest economic power among the country’s large cities. The city has adopted a concept of low carbon economy, smart city and a better, happy life for its residents. It has one of the best business-friendly environments, quality public services, transportation, entertainment and recreational facilities in the Chinese mainland.
The Guangzhou region is expected to see major business opportunities in private economic development, financial innovation, science & technology and ecological system. More capital will be channelled into medical care, education and community construction in the coming years. Establishment of free trade zones and infrastructural development will see the region develop into a more attractive destination for global investors.