“Guangdong will seek progress while maintaining stability, and deepen the supply-side structural reform next year,”said Hu Chunhua, Party Secretary of Guangdong, at the Provincial Economic Work Conference, which concluded on 25th . He also highlighted the following six major directions for development in the upcoming 2017:
First, reform remained on the front burner for Guangdong in 2017. It will introduce private funds into more sectors dominated by state-owned companies, better protect property rights, and improve the old-age insurance system, as well as promote land regulations and reforms of administrative system. Detailed report
Second, Guangdong will replace traditional industries with innovative and high-tech industries as the major engines to drive development. It includes eight major tasks as fostering high-tech enterprises and innovative talents, upgrading industrial technology, building incubator systems, high-level universities and etc. It will also speed up the process of applying innovative ideas to the industries through constructing intellectual property rights trading centers and venture capital centers. Detailed report
Third, Guangdong will balance the development between the Pearl River Delta and Eastern, Western and Northern Guangdong in terms of transportation, industries, policies and basic public service. Detailed report
Fourth, Guangdong will upgrade the model and quality of its foreign trade through maintaining shares in the global market, optimizing trading structure and constructing high-level free trade zoon. More
Fifth, real economy is the core of the supply-side structural reform. As for Guangdong, the priority is to reform the manufactural industry. In 2017, Guangdong will maintain the industry’s dominant position and seek to upgrade the industry through developing and possessing new technologies.
Sixth, Guangdong will improve the infrastructural construction of 5 domains: transportation systems including highways, railways and airports; rivers and watersheds control; sewage treatment and refuse disposal; information infrastructure including high speed wireless; new energy vehicle charging networks.