Investing in Guangdong
The People’s Republic of China consists of 34 provincial-level administrative units, among which the Guangdong Province is known to be the main economic area of Southern China for international trade, for the production of electronic and textile products, for research and technological innovation. Holding the largest number of FDI. With a population of 115.21 million inhabitants covering a total surface area of 177,900 km2, Guangdong ranks as the most populous among all the provinces in China. Guangzhou is the capital of Guangdong Province with a maritime heritage located on Pearl River. The historical Guangzhou port is the most important foreign trading port in South China.
Pearl River Delta Economic Belt is a key region for the development of the Southern area of China. With a purpose to trade with Southeast Asian countries. Attained 13.1% of the national GDP growth alongside 11.7% of the population of Mainland China encompassing 4.4% of the national territory.
Foreign investments are mainly located along the Eastern Coast and in Beijing. The Province of Guangdong accomplished 170,968 foreign investment companies with total exports of USD 629.9 billion and total imports of USD 407 billion. In addition to an average urban salary of USD 13.395.
In terms of GDP, the Province of Guangdong still leads in China reaching USD 1,706 billion in 2020 and USD 1,547 billion in 2019 with a GDP per capita of USD 13,425. Along with GDP growth of +6.2% in 2019 and +2.3% in 2020.
Main Economic Centers (GDP) in Guangdong
· Shenzhen (USD 387 billion)
· Guangzhou (USD 339 billion)
· Foshan (USD 154 billion)
· Dongguan (USD 136 billion)
· Huizhou (USD 60 billion)
Main Sectors in Guangdong
· Industrial machinery
Main Industrial Areas in Guangdong
· Guangdong Pilot Free Trade Zone
· Guangzhou Economic and Technological Development Zone
· Guangzhou Nansha Economic and Technological Development Zone
· Zhuhai Economic and Technological Development Zone
· Zhanjiang Economic and Technological Development Zone
· Huizhou Data Bay Economic and Technological Development Zone
· Guangzhou High-tech Industrial Development Zone
· Shenzhen High-tech Industrial Park
· Guangzhou Export Processing Zone
· Guangzhou Bonded Logistics Park
· Guangzhou Nansha Free Trade Port Area
· Shenzhen Yantian Comprehensive Bonded Zone
· Guangdong Shenzhen Export Processing Zone
Pilot Free Trade Zone
Established in 2015 to promote economic reforms and facilitate openness to foreign investment. Giving a boost to the Greater Bay Area economic and financial development.
Greater Bay Area consists of nine cities in the Guangdong province (Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, Huizhou, and Zhaoqing) and the two special administrative regions of China (Hong Kong and Macau).
Companies benefit from promising tax rates and treatments along with the convenience of currency control, and faster administrative procedures.
(GUANGDONG) Pilot Free Trade Zone aims to deepen (Guangdong - Hong Kong - Macau) cooperation and open up to the world by creating an investment environment to comply with international standards. Also, promote the 21st Century Maritime Silk Road.
The target industries are shipping, logistics, financial services, health, education, high-end manufacturing, international trade. Besides, the functional areas include the Nansha area (60.0 sq. km), Hengqin area (28.0 sq. km), and Qianhai Shekou area (28.2 sq. km).