Leadership Insights | Xi's Stories: Guangdong-New Practices of Local Governments in the New Era

Unswervingly deepening reforms in an all-round way and expanding high-level opening up

Guangdong Province is at the forefront of China’s reform and opening up. It has been leading the country’s high-quality economic development by deepening reforms in key areas, optimizing the business environment, stimulating market vitality, and releasing reform dividends. Meanwhile, Guangdong actively embraces globalization and strengthens economic and trade cooperation with other parts of the world, injecting strong impetus into building a new development paradigm and promoting high-quality development.  

The Shenzhen-Hong Kong-Guangzhou science and technology cluster has been ranked second in the Global Innovation Index by the World Intellectual Property Organization (WIPO) for four consecutive years.

The province’s R&D expenditure was about 460 billion yuan in 2023, accounting for 3.39% of its GDP.

The province’s comprehensive capacity has ranked first in the country for seven consecutive years. 

Guangdong’s GDP reached 13.57 trillion yuan, making it the first province in China to surpass the 13 trillion yuan mark. 

Its GDP has ranked first in the country for 35 consecutive years. 

Guangdong vigorously promotes the construction of the Shenzhen Pilot Demonstration Zone.

Its 22 innovative measures and typical experiences for comprehensive reforms have been promoted nationwide.

Qianhai has introduced a total of 152 world-leading service providers. 

The professions that Hong Kong and Macao professionals are entitled to engage have been increased to 22 types. 

China’s first “dual-license” foreign-funded bank was officially launched in Guangdong. 

The comprehensive service base for Chinese enterprises “going global” was officially inaugurated in Guangdong. 

Nearly 3,000 Hong Kong and Macao enterprises have settled in Guangdong, with a total investment of more than US$100 billion.

The Shenzhen branch of the Hong Kong Science Park was successfully opened, and the first batch of 16 Hong Kong science and technology innovation institutions, enterprises and service platforms have settled in. 

Guangdong takes an active part in BRI cooperation. 

The trips of China-Europe Railway Express freight trains increased by 31.2%. 

Guangdong’s “circle of friends” continues expanding through increased international exchanges. 

The number of its international sister cities and that of foreign consulates general in Guangzhou increased to 208 and 68, respectively. 

(Source: Guangdong Municipal Government Work Report 2024)

Guangdong is unswervingly deepening reforms in an all-round way and making greater efforts to expand high-level opening up. Today, Guangdong is embracing the future with a new attitude. It will continue to deepen reforms, expand opening up, and write a new chapter of development in the new era with a higher spirit.