Guangdong has a long-standing tradition of shipping and foreign trade

Being the southern gateway of China geographically, and with convenient and complete road and sea transportation, Guangdong began to develop shipping and foreign trade at a very early time. It has the longest and prolonged history of shipping and foreign trade. It has become an important trading port of China. What is more, it is the birthplace of the famous ¡°Silk Road on the Sea¡± in history. Guangdong¡¯s Lingnan culture can be traced back to the remote past. It is good at absorbing the cultural quintessence of all cultures in the world. Currently, Guangdong is striving to intensify its cultural building of the province, which will lay a solid foundation for its economic and social development.

Guangdong ranks the first in overall economic strength in the country

Keeping the pragmatic spirit and conducting performance-oriented practices, and adhering to the scientific concept of sustainable development, the people of Guangdong have successfully promoted the coordinated development of material civilization, spiritual civilization and political civilization and enhanced the industrialization with the stimulation of information industry. From 1979 to 2003, the GDP of Guangdong has been increasing at a rate of two digits for the past 24 consecutive years. In 2003, its GDP hit US$ 162.5 billion, accounting for 11.5% of the national total, increased by 13.6%, which was the highest increase rate since 1995. The major indicators of its national economy keep ahead in the country, including total volume of retail sales of consumer goods, industrial added value, personal savings deposits of residents, tax revenue, fiscal revenue, total fixed assets investment and goods handling capacity, etc.

The development of Guangdong¡¯s foreign trade and economic cooperation attracts worldwide attention

In 2003, Guangdong¡¯s total import and export value reached US$ 283.646 billion, accounting for 33.3% of the national total, ranking the first in China for the past consecutive 18 years, among which the export value was US$ 152.944 billion, accounting for 34.9% of the national total. By the end of 2003, the accumulated actual utilized capital of foreign direct investment (FDI) in Guangdong reached US$ 140.5 billion, among which US$ 15.578 billion was absorbed in 2003, accounting for 29.13% of the national total. Guangdong has established trade relations with more than 200 countries and regions around the world, among which over 100 countries and regions have made their investments in the province. By now, those multinational corporations listed in the world¡¯s ¡°Fortune-500¡± have found 404 enterprises with foreign investment in Guangdong. More than 100,000 foreign-invested enterprises have been approved to settle down in Guangdong, including more than 30,000 export-oriented processing and assembly enterprises engaging in various industries scattering all over the province.

Guangdong has been continuously deepening its opening-up process

Nineteen countries have set up their consulates general in Guangzhou. In spring and autumn every year, the Chinese Export Commodities Fair has been held in Guangzhou twice a year; likewise, the China Hi-Tech Fair has been held in Shenzhen every year. Business people from all over the world pour into Guangdong to attend these two fairs and bring with them boundless business opportunities. Guangdong Province has three Special Economic Zones (SEZ), namely Shenzhen SEZ, Zhuhai SEZ and Shantou SEZ. Also, it has 18 development zones of national level as well as 64 development zones of provincial level. Guangdong will further optimize and integrate these zones to be the principal investment priority destinations of multinational corporations and other foreign investors. Its all-orientation, multi-level and wide area opening structure provides the investors with vast development space.

Guangdong¡¯s infrastructure facilities have continuously been improved

In 2003, Guangdong invested US$ 22.94 billion in its infrastructure construction. It has ample electricity supply. The newly added generating capacity of power generation reached 3,000 megawatts. It has a well-developed telecommunication system. The province¡¯s mobile phone users reached 40.55 million; the number of program-controlled telephone users was 25.67 million; and the registered subscribers of internet users amounted to 11.07 million. Guangdong has built a complete transportation network for water, land and air transportation. Road ramifies to all directions around the province. The total mileage of the highways and expressways is 110,000 kilometers, among which the mileage of expressways is 2,412 kilometers. Till the end of 2004, 21 municipalities of the prefecture level in Guangdong will be closely connected and linked by expressways. The Beijing-Guangzhou Railway and Beijing-Kowloon Railway, two trunk railways running from the north to the south of China, run through Guangdong Province. Guangdong has 7 airports, including one of the 3 air hubs of China, namely Guangzhou Baiyun International Airport, and 6 other big airports locate respectively in Shenzhen, Shantou, Zhuhai, Foshan, Zhanjiang and Meizhou. The total annual goods handling capacity of its main coastal ports reached 423,91million tons, among which the container handling capacity is 18,386,800 TEU. Its main coastal ports include Yantian Port of Shenzhen, Guangzhou Port, Zhanjiang Port, Shantou Port, Shekou Port and some deepwater fine ports. Among these ports, Yantian port is one of the world¡¯s top 10 ports. Guangdong is open to international shipping to over 1,100 ports in more than 130 countries and regions. The well-developed infrastructures and complete services are strengthening the sustained economic development of Guangdong.

Guangdong has a complete industrial system and great market potentials

Guangdong¡¯s 9 pillar industries have taken shape. They are: textiles and garments industry, foodstuff and beverages industry, construction materials industry, electronics and information industry, electric appliances and machinery industry, petrochemical industry, forestation and papermaking industry, pharmaceutical industry, automobile industry. It has strong auxiliary capabilities of manufacturing and processing. It is one of the largest manufacturing bases in China and even in the world. The number of Guangdong¡¯s applications for scientific invention intellectual property right ranks the first in China for the past consecutive years. The enterprises¡¯ creative capabilities and the industries¡¯ international competitiveness take the leading position in China. The Pearl River Delta is becoming the clustering regions in Guangdong for foreign investments. This area has initially put in place for the clusters of enterprises and industries for electronics and information and household electric appliances and its influential power of stimulating the development of the neighboring areas is continuously being strengthened. Presently, Guangdong is speeding up its strategic restructuring of its economic structure. Its primary objective is aimed to develop substantially the high and new technology industries by focusing on information technology. At the meantime, we strive to speed up the reform and enhancement of the traditional industries with advanced and applicable technologies and the high and new technologies as well, and to accelerate the development of automobile industry, petrochemical industry and modern service trade industries. In return, they will generate various business opportunities for investors of various industries, which they surely will enjoy booming business development and profitable returns from.

Guangdong¡¯s soft investment environment is getting better and better

Guangdong is always ready to provide its quality services to business people and investors of worldwide. Complying with requirements of the WTO rules and the laws and regulations of China, Guangdong is promoting the system of governing the province according to law on an all round basis. Wile improving its laws and regulations system related to foreign economic activities, Guangdong has built a comparatively complete system governing market economic operations and fostered a comparatively sound market mechanism. As the concept of honesty and credibility of the whole society has been increasingly strengthened, the legitimate rights and interests of the investors, enterprises and its staffs are well protected. The province has various talents and a high quality labor force. There are 71 colleges and universities, 37 adult higher education junior schools and 181 engineering research (technology) centers of the provincial level and above in the province. Its state-owned enterprises and institutions have a total of 1.058 million scientific and technical personnel. The government is striving to pursue and practice an open governing administration system. As a result, the transparency and efficiency of its administration have been greatly enhanced. There are many intermediation organizations and relative organs of various levels, which provide quality, efficient and professional services to business peoples and investors. Thanks to all the above efforts, Guangdong¡¯s overall investment environment is being improved with every passing day.

The Greater Pearl River Delta is highly fascinated with attraction and offers broad hinterland for development

Thanks to the implementation of ¡°CEPA¡±(Closer Economic Partnership Arrangement), Guangdong can integrate and consolidate its advantages in manufacturing, technology, market, labor force and resources with those of Hong Kong and Macao in international trading, finance, management and talents and has put in place a ¡°Greater Pearl River Delta¡± Economic Zone, within which Guangdong, Hong Kong and Macao will enjoy closer partnership for cooperation among each other. By focusing on the development of its manufacturing industry, Guangdong will be dedicated to become one of the most important manufacturing bases of the world, while Hong Kong is focusing on promoting modern logistics, finance and trading with an objective to turn itself into one of the world¡¯s most important centers for modern service trade industry, and likewise, Macao is relying on building up its tourism, amusement and lottery industry. The advantages bestowed for these three parties are complementary to each other and surely a joint development will be achieved for each of them. In the meantime, the ¡°Pan- Pearl River Delta¡± Economic Zone is taking shape at a fantastic speed. This zone covers 9 provinces and autonomous region in China¡¯s mainland including Guangdong, Hunan, Hainan, Fujian, Yunnan, Sichuan, Guangxi, Guizhou, Jiangxi and 2 Special Administrative Regions (SARs) including Hong Kong and Macao. Thus the dominant regional superior position of Guangdong is being brought into full play, in return, offering a broader hinterland for business development.

Looking forward to the future, Guangdong is advancing to an all-round and sustainable development

By conscientiously complying with and implementing the general remarks and requirements made by Secretary General and President Hu Jintao in Guangdong, namely: ¡°To seize the opportunities, to accelerate development, and to play a better role of the forerunner in the country¡¯s process for the construction of a comfortable level of living and the realization basically of socialist modernization¡±, the people of Guangdong are actively carrying out the strategy of sustainable development, sticking to the road of new industrialization, promoting the coordinated development of its economies oriented to global markets and the domestic markets as well, balancing the urban and rural economic and social development, promoting the coordinated development among regions, and to eventually achieve an all-round economic, political and cultural development.

Guangdong will take a more positive and vigorous attitude to carry out the strategy of ¡°Going Global¡±, and further strengthen the international economic, trade and technological cooperation and friendly exchanges with countries and regions around the world. Guangdong will join all of you in bringing about our mutual brilliant achievements in the future!