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Powerful Economy of Guangzhou

Update Date:2019-9-3 11:48:22     Source:www.3737580.com     Views:780

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As the central city of South China and the Pearl River Delta, one of China's top three economic powerhouses, Guangzhou has long played an essential role in stimulating the economic development of the South. With the formation of the China-ASEAN Free Trade Zone, Guangzhou's status as an economic hub will grow and its stimulating effects on economic growth will expand throughout Southeast Asia; this will open up enormous business opportunities for multinational companies operating in Guangzhou.


A huge consumer market
Guangzhou is a huger consumer market, boasting 364.8 billion yuan of citywide retail sales of consumer goods in 2009 and directly leading the consumption concepts and fashions of over 40 million relatively affluent groups in the Pearl River Delta.

The people flow, material flow and capital flow diverted by the Asian Games 2010 to Guangzhou surely will lead to the further flourishing of local consumer market. Meanwhile, Guangzhou will lead the consumption in the high-speed railway era through innovative consumption modes, and give better play to its role as China's central city in "resource gathering and distribution" so as to become the consumption center of South China and influence Central China.

 

 

Plentiful Foreign Trade Wholesale Markets
Guangzhou has built a wholesale market system with complete functions covering the entire nation and is linked to the international marketplace. In 2006, the city was home to 586 wholesale markets including 115 sizable ones.

 

Its wholesale markets for aquatic products, audiovisuals, tea, leather products, textiles and garments, hotel supplies, cosmetics, auto accessories, IT products, toys and gifts and others are among the largest ones of their kinds in China. "Guangzhou prices", which have a considerable influence on the industries serving these markets, are typified by the Guangzhou Anhuamei Expo City, the Guangdong Audiovisual City, Huangsha Aquatic Products Wholesale Market, the Baima Garment Market, the South Tea Market, the Shiling Leather Products City, the Guangdong Yuzhou International Building Materials Market, the Guangdong Tianjiian International Home Furnishings Materials Market, and Pacific Computer City all enjoy considerable name recognition in China and Southeast Asia.


Powerful business promotion carriers
Guangzhou is the only city at home that accommodates three national-level economic & technological development zones. Guangzhou Economic and Technological Development Zone highlights its construction as a modern, new city area suitable for both business startup and living and a sub-city center in East Guangzhou. At present, the Sino-Singapore Knowledge City is built at an accelerated pace with the purpose of developing into a landmark region demonstrating the knowledge economy in the 21st century and urban image of Guangzhou. Nansha Economic and Technological Development Zone focuses on the construction as “China’s first-class modern and international port economic circle” and “a modern coastal new area suitable for both business and living”. It beefs up effort to develop such intelligent industries as the networks of things, energetically explores the construction of bulk commodity trading centers and South China’s major logistics bases relying on Nansha Bonded Port, and strives to build itself into a world-famous node in cruise tour route. Zengcheng Economic and Technological Development Zone is a state-level development zone newly approved by the State Council with the focus on auto, manufacturing as well as emerging industries. The said three state-level economic and technological development zones will have tremendous attractions to foreign-funded companies, Global 500 companies in particular.

 

Powerful industrial clusters
Guangzhou is a major industrial base, manufacturing base and service industrial base in China, with complete industrial supporting facilities and clusters. In particular, the three pillar industries, namely auto, petrochemicals and electronic information, have seen the establishment of modern industrial systems. Besides, its tertiary industries like finance, wholesale & retail, logistics, exhibition and tourism are developed, too. The modern industrial system, in which modern service industries take the dominant position, high-tech industries serve as the engine, advanced manufacturing develops at an accelerated pace and competitive traditional industries upgrade, is taking shape.

 

 

Guangzhou has appraised as the "national base for auto and parts export", "national electronic information industrial base", "national pharmaceuticals export base", "national bio-industrial base", "national software industrial base", "national online animation industrial base", "national software export innovation base", "national base for new materials for environmental protection under the Torch Plan", "national high-tech industrial base for the IT industry", "national high-tech industrial base for the new material industry" and "China's service outsourcing base city (demonstration city)", etc.

 

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