On the Agenda
In a significant move towards bolstering China’s economic growth, Guangdong Governor Wang Weizhong announced this week that the province will take on a larger role in supporting the national economy. A key focus will be the development of the Greater Bay Area, a metropolitan region in the Pearl River Delta.
Speaking to local media, Governor Wang emphasized Guangdong’s commitment to accelerating the construction of a world-class Greater Bay Area. This initiative aims to foster closer ties with Hong Kong and Macau, ensuring the integration of the Chinese economy and promoting modern economic development.
Efforts will also concentrate on enhancing regional transport connections and cultivating a strong talent pool in the integrated circuits sector, alongside boosting industrial software production.
This year marks the fifth anniversary of the Greater Bay Area, a cornerstone among President Xi Jinping’s three major regional integration strategies.
Governor Wang also revealed plans for Guangdong to achieve 5% economic growth this year, aligning with targets set by other provinces. In 2023, the Guangdong economy grew by 4.8%.
Supporting the local private sector, considered the backbone of the provincial economy, is also on the agenda. Guangdong aims to create more job opportunities this year, taking a lead role in boosting the economy.
Beyond integrating Macau and Hong Kong, Beijing also aims to transform the region’s growth model by emphasizing domestic consumption and services over exports and manufacturing.