Huangpu's industrial advances featured in People's Daily

Recently, People's Daily published an in-depth report on the economic development of Guangzhou, with special emphasis on the achievements in new industrialization and manufacturing development in Huangpu district.

The report revealed that in 2023, Guangzhou's regional gross domestic product reached 3 trillion yuan ($450 billion), a year-on-year increase of 4.6 percent, demonstrating steady economic growth.

The report underscored Guangzhou's commitment to focusing on the real economy, stimulating market vitality through innovation, openness, and reform. Enterprises like Hagrid Communication and GAC Aion exemplify Guangzhou's manufacturing sector's dynamism and innovative strength.

Technological innovation plays a crucial role in Guangzhou's economic growth. The intensity of R&D investment and the proportion of basic research in the city highlight the city's commitment to and achievements in technological innovation.

Regarding an open economy, major infrastructure projects like the international general wharf project in the Nansha Port area of Guangzhou Port have enhanced Guangzhou's status as an international transportation hub. Additionally, a high-quality service system has attracted numerous foreign investment enterprises.

Regarding reforms, optimizing the business environment has led to a 30.1 percent increase in the number of newly registered businesses in Guangzhou in 2023, reflecting the city's effectiveness in promoting high-quality development.

The report also emphasized that Guangzhou will continue to focus on economic growth and development, consistently creating new prospects for high-quality development.