GDD sees notable economic growth in past five years

The GDP of Guangzhou Development District climbed to 415.8 billion yuan ($62.49 billion) in 2021 from 295 billion yuan  in 2017, which demonstrated the remarkable progress that this area has made in its economic development over the past five years.

Industrial enterprises above the designated size in the district recorded a total output value of 877.1 billion yuan last year, while fixed-asset investment and the fiscal revenue reached 186.9 billion yuan and 145.5 billion yuan respectively, a significant growth compared with the figures five years ago.

These achievements should be attributed to GDD's efforts in promoting industrial innovation and reforms in the past five years.

GDD attached great importance to the development of its manufacturing sector. It made strong progress in upgrading traditional industries and establishing advancing emerging industries like display, biomedicine, as well as integrated circuits.

Scientific and technological innovation has been prioritized in GDD's work agenda. A total of 21 scientific and technological achievements of the district won a Guangdong Science and Technology Award in 2021. The output value of strategic emerging industries in GDD exceeds 50 percent of Guangzhou's average. 

To further boost scientific and technological innovation, GDD set up a talent work bureau to attract more talents to work here. To date, a talent pool of 111 strategic scientists and 1,251 other high-level talents has been established.

GDD's innovative policies to improve its business environment are another highlight of its achievements, which enabled the district to be named an innovation demonstration zone where small and medium-sized enterprises can thrive with supportive services.

Enterprises registered in the district surged to 161,000 in 2021 from 67,000 in 2018, of which 32 have been recognized as national "little giant" enterprises due to their small size but strong innovation capability and high profitability.