As China's largest provincial economy, Guangdong has not only topped the national GDP ranking for 36 consecutive years but has also remained a leading player in the capital market.
As of November 14, 2025, Guangdong is home to 887 A-share listed companies, more than any other province. Since the beginning of 2025, 80 A-share stocks from Guangdong have doubled in price, accounting for nearly one-fifth of all such performers nationwide, making Guangdong one of the most prominent forces in the capital market.
Guangdong not only has a high number of listed companies but also boasts strong and high-performing enterprises. The province has a complete industrial system spanning electronics, computing, new energy, communications equipment, and intelligent manufacturing, while maintaining a leading presence on the STAR Market and ChiNext. Guangdong currently has 321 listed companies in strategic emerging industries, the highest number in the country. Industry leaders such as BYD, Midea, and ZTE continue to drive technological breakthroughs and demonstrate robust innovation dynamics.
R&D spending is a key driver of the strength of Guangdong's listed companies. In the first three quarters of 2025, they invested 240.5 billion yuan in R&D, representing 21.15% of all A-share R&D spending. R&D accounted for 3.01% of their revenue, the highest level nationwide, with several leading firms each investing over 10 billion yuan. This strong commitment to R&D has delivered solid results: among the 30 companies that spent more than 1 billion yuan on R&D, 24 reported revenue growth. Over the same period, non-newly listed Guangdong companies recorded a 6.91% year-on-year rise in revenue and a 5.21% increase in net profit, both outperforming the overall A-share market.
Guangdong has also shown notable performance in capital returns. In the first three quarters of 2025, the province added 14 new A-share listings, raising over 11 billion yuan, with most new issuers concentrated in strategic emerging industries. Guangdong also led the country in mergers and acquisitions, completing 66 deals worth 54.9 billion yuan. More than 70 companies distributed interim cash dividends totaling over 16 billion yuan, further strengthening investor confidence.
Driven by its manufacturing strengths and technological innovation, Guangdong is accelerating the integration of technology, industry, and finance. With 887 listed companies and a combined market capitalization of 19.42 trillion yuan, the province is rapidly cultivating new quality productive forces and expanding its strategic emerging industries. In doing so, Guangdong is providing high-quality assets to China's capital market and contributing greater strength to the country's modernization drive.
Reporter | Guo Chuhua
Photo | Nanfang Plus
Editor | Hu Nan, James Campion, Shen He
