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Pearl River Delta continues reform and development steps
Latest Updated at 2013-November-17 10:40:52

Guangdong officials in May re-leased an implementation plan for the "Pearl River Delta Region Reform and Development Outline" which predicts that the province's per capita GDP will exceed 10,000 USD by the end of the decade.

In 2012, the Pearl River Delta's total GDP reached 4.79 trillion RMB, up 45.8 percent compared with 2008 and accounting for 79.1 percent of the province's total. Per Capita GDP grew 29.6 percent to 84,563 RMB, or 13,454 USD. The province has hit all its targets set for these four years, enhancing its economic strength, innovation capacity and global competitiveness. Regional economic integration has taken shape and the social insurance system basically covers all residents, according to provincial planners.

In the past four years, Pearl River Delta weakened its reliance on foreign trade as modern industries, including modern services, advanced manufacturing and strategic rising industries, saw rapid expansion and have become the main drive for the province's industrial up-grade and transformation.

The province's "Double Transfer" strategy has been an indispensable part in Guangdong's economy in the past four years. Since 2008, Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan and Zhongshan witnessed over 6,000 enterprises moving out and 70,000 businesses shutting down. The average investment for each of these enterprises was about 830,000 RMB. Meanwhile, these six cities have 14,700 new enterprises, each with 70 million RMB investments. The average investment for the new enterprises was 84 times of that of the old ones. More than 50 percent of Guangdong's new enterprises are in the advanced manufacturing, high-tech manufacturing and modern service industries.

These shifts created development opportunities in the east, west and northern parts of Guangdong. By 2012, both accumulated project investment and industrial output of the province's 36 industrial transfer parks exceeded 1 trillion RMB, reaching 1.02 and 1.03 trillion RMB respectively. In 2012, these parks yielded 389.7 billion RMB in total and paid 15 billion RMB in taxes. Meanwhile, the parks spawned 3,629 new industrial projects and completed construction of 1,795 projects. These parks have spearheaded development in Guangdong's less affluent areas.

2013-2017: GDP up 9 percent annually

The provincial government will continue its transformation and upgrade and core competitiveness enhancement in the coming five years. By 2017, the Pearl River Delta will have an optimized market economy system and world-leading science and technology research and development and innovation capacity. The region's collaboration with Hong Kong and Macao will also be further

deepened as ecological and social systems are improved.

The implementation plan targets regional GDP to increase nine percent annually and per capita GDP to increase to 115,600 RMB. The service industry w-ill account for 54 percent of the province's value added output and urban and rural residents' income will double compared with 2010, according to the plan. Research and development investment will account for 2.7 percent of the regional GDP, the unit GDP energy consumption and the environment quality will reach a world-leading level.

Key projects and platforms are engines for the PRD's continued reform and opening up in the next five years. The implementation plan includes 64 key projects, including Guangzhou-Foshan intercity rail, Guangzhou-Shenzhen-Hong Kong Passenger Rail (Futian Stop), Baiyun Airport Expansion. (by Wing)

Editor: Olivia

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