Guangdong will step up efforts in 2019 to build the Guangdong-Hong Kong-Macao Greater Bay Area into a global tech innovation center.
Governor Ma Xingrui made the announcement while delivering the government work report to the province’s legislature, which opened its annual session in Guangzhou yesterday.
He said Guangdong would work with Hong Kong and Macao to build a group of laboratories on advanced and industrial technologies as it created a tech innovation corridor linking Guangzhou, Shenzhen, Hong Kong and Macao.
“The province will promote the sharing of scientific facilities and data with Hong Kong and Macao and boost cooperation between universities, research institutions and tech firms within the Greater Bay Area,” he said.
Guangdong will also speed up the construction of a high-intensity heavy-ion accelerator and cooperate with the Chinese Academy of Sciences to build a national terahertz science center and an intelligent supercomputing platform.
The Greater Bay Area covers Hong Kong, Macao and nine cities in Guangdong, including Shenzhen.
Guangdong has targeted 6 to 6.5 percent economic growth this year and aims for its GDP to surpass 10 trillion yuan (US$1.47 trillion) in 2019, Ma said.
In 2019, Guangdong will maintain the growth in fixed assets investment at 9 percent and the total retail sales of consumer goods at 8.5 percent. Foreign trade volume is expected to increase 3.5 percent.
Within the year, Guangdong will create 1.1 million new jobs, while the surveyed unemployment rate and registered unemployment rate will be controlled within 5.5 percent and 3.5 percent, respectively. The CPI will be controlled within 3 percent.
Guangdong recorded a 6.8- percent GDP growth to hit 9.73 trillion yuan last year. The figure accounted for around 10 percent of the national total.
Guangdong is a leading foreign trade player in the country, with its imports and exports topping 7.16 trillion yuan last year.
The province’s per capita disposable income saw an increase of 8.8 percent to 35,800 yuan last year.
Guangdong’s job market was stable in 2018, with 1.48 million new jobs created and the urban registered unemployment rate at 2.41 percent.
Guangdong was profoundly engaged in the construction of the Belt and Road Initiative last year. Trade volume with the Belt and Road countries rose 7.3 percent in 2018, while the actual investment in these countries saw a dramatic increase of 64.2 percent.
The use of foreign capital in the province rose 4.9 percent to reach 145 billion yuan in 2018, Ma said. The use of foreign investment in the manufacturing sector increased by 57.9 percent last year.
Guangdong last year expanded its market access to foreign investment to allow wholly foreign-owned enterprises in fields including drones and new-energy vehicle manufacturing.