The 2024 Guangdong High-quality Development Conference will be held on February 18 in Shenzhen, the city born by innovation.
The rapid development of Guangdong and the Greater Bay Area cannot be achieved without innovation. In an exclusive interview with SFC, Wang Haifeng, researcher at the Academy of Macroeconomic Research, emphasized that the next phase of economic growth in the Greater Bay Area depends significantly on the integration of its markets.
Guangdong plays a particularly important role in this process. "Province like Guangdong, focusing on core cities and industrial parks, we need to prioritize talent, technology, digital economy, and technological innovation," stated Wang, highlighting the essential pillars for sustainable growth. He stressed the importance of nurturing talent, fostering technological advancement, and embracing the digital economy to propel the region forward.
Moreover, Wang underscored the need to enhance services mainly focused on technological innovation and research, to facilitate the convergence of advanced manufacturing and high-end services.
"This is a process," Wang acknowledged, underlining that Guangdong must align with international standards at a higher level to realize its full potential. "In my opinion, the next economic takeoff in the Pearl River Delta and the Greater Bay Area depends on the market integration within the Greater Bay Area," Wang asserted.
"Our level of openness in Guangdong can be further elevated," Wang concluded, expressing optimism about the region's prospects while also highlighting the imperative for continuous improvement and adaptation to meet the challenges of an ever-evolving global economy.
