Dongguan + 2024-02-19 18:43:53
On February 18th, the first working day after the Spring Festival holiday, provincial and municipal conferences on high-quality development were held in succession, focusing on industry, science and technology, and innovation to plan for the future. These gatherings effectively sounded the clarion call for an advance towards high-quality development, resonating strongly with Dongguan’s economic functional departments:
“They have clarified the direction, reinforced the confidence, and boosted the morale for our next phase of investment attraction and capital introduction.” “They unequivocally demonstrate the steadfast determination and proactive measures of the provincial and municipal committees and governments to embrace high-quality development.” “By focusing on ‘technological innovation + advanced manufacturing’, the unique characteristic of Dongguan, and seizing the crucial task of new industrialization, we are aiming for breakthroughs in ten key areas of work.” “We are committed to expanding the allocation of credit funds in the ‘Year for Investment’, taking on new responsibilities in facilitating the development of an international hub for science and innovation manufacturing”...
How will Dongguan channel investments in the ‘Year for Investment’? How will it promote new industrialization? What role does financial support play in this endeavor? How will ‘technological innovation + advanced manufacturing’ continue to be a driving force? Representatives from various economic functional departments interviewed shared that the conferences were highly motivational. They plan to implement a series of specific initiatives as proposed during the conferences, aimed at fostering a symbiotic growth of industry and technology, accelerating the establishment of a modern industrial system, nurturing new productive forces, and creating new dynamics and advantages for development, by getting into action and innovating more “tactics”.
Focusing on mutual reinforcement between industry and technology
In an era where technological innovation is rapidly advancing, new-generation artificial intelligence, information technology, biotechnology, new energy, and new materials are revolutionizing industries and unlocking unprecedented opportunities for industrial growth. Dongguan, boasting a solid foundation in technological innovation and a robust manufacturing system, is spearheading the development of the Songshan Lake Science City as a precursor to a comprehensive national science center. The city is also undertaking significant national projects such as the Spallation Neutron Source and advanced attosecond lasers. With more than 10,000 high-tech enterprises and an R&D spending intensity of 4.1%, Dongguan is both confident and capable in its pursuit of high-quality development.
Zhuo Qing, Secretary of the Leading Party Members’ Group and Director of Dongguan Science and Technology Bureau, remarked that the high-quality development conferences at both provincial and municipal levels have drawn an inspiring blueprint for the region’s high-quality economic growth, uplifting and motivating progress. In particular, the municipal conference called for sustained emphasis on “technological innovation + advanced manufacturing” and acceleration of developing new productive forces, highlighting that innovation in science and technology is crucial, solid industries are the foundation, talent is the key, finance is the lifeblood, and platforms provide support.
“Seizing the moment of these conferences, we aim to expand our vision, strategize development, and initiate new ventures, while focusing on the mutual reinforcement between industry and technology. By embedding innovation in enterprises, industries, and overall development, we are committed to transforming Dongguan into a stronghold of science and innovation manufacturing, speeding up the emergence of new productive forces, and making a substantial contribution to Guangdong’s high-quality development,” said Zhuo Qing. With a strategic focus on industry and technology and adopting a work approach of “systematic advancement + exemplary leadership”, Dongguan is poised to fast-track the development of new productive forces.
Advancing Dongguan’s bright economic future through dynamic practices of Major Investment Attraction 2.0
With a strategic emphasis on projects, industrial spaces and efficiency, Dongguan has designated this year as the “Year for Investment”, striving to forge a virtuous cycle where consumption and investment drive each other forward. In terms of boosting investment, what new targets and initiatives will Dongguan pursue next?
As the municipal authority in charge of investment attraction, Dongguan Investment Promotion Bureau states that it will lead with new industrialization, deeply understand the new trends and changes in industrial transformation and technological revolution, and focus on reinforcing and establishing industrial pillars. The bureau intends to perform an exhaustive analysis of the industrial chains of key enterprises, continually refine its strategy for attracting investment to these chains, and pioneer innovative approaches for competing for resources and devising projects. This initiative is expected to ignite a new fervor for “broad-scale investment attraction, attracting major investors, and attracting quality investors,” with a commitment to bringing in a series of pioneering and benchmark industrial projects. Through high-caliber industrial investment attraction efforts, Dongguan is set to expedite the development of new productive forces, enhance weak industries, expand the reach of competitive industries, upgrade traditional industries, and foster emerging industries, firmly translating conference outcomes into substantial high-quality development achievements.
The bureau has announced its intention to set clear annual goals and tasks, accelerate the launch of the Major Investment Attraction 2.0 initiative, and promote the formation of a "1+1+N" industry-research-investment group led by municipal leaders. It aims to pinpoint opportunities for future industrial growth and domestic substitution in critical bottleneck areas, compile the Industrial Chain Investment Attraction Map 4.0, and host high-profile global investment promotion conferences. Additionally, exclusive Invest in Dongguan events, Litchi exchange activities, and thematic promotional activities in regions such as Americas, Europe, Middle East, as well as Beijing-Tianjin-Hebei Region, Yangtze River Delta, and the Greater Bay Area, will be organized regularly. By effectively utilizing 12,000 acres of investment-ready land and employing the 200 billion yuan high-quality development fund to stimulate investment, Dongguan is poised to promote its economic prosperity through the dynamic implementation of Major Investment Attraction 2.0.
Seizing the key task of advancing new industrialization
2024 marks a pivotal year for Dongguan to expedite the process of new industrialization. Right at the start of this year, Dongguan Municipal Government unveiled the Implementation Opinions of Dongguan Municipal People's Government on Accelerating the High-quality Construction of Dongguan as an International Hub of Science and Innovation Manufacturing in the form of Document No. 1, accompanied by 5 supporting policies.
Dongguan Industry and Information Technology Bureau has declared its unwavering commitment to align with the work requirements of the municipal Party committee and government, concentrating on the city’s distinctive feature of “technological innovation + advanced manufacturing” and firmly grasping the critical task of advancing new industrialization. The bureau is set to make strides in building a modern industrial system, boosting industrial and technological investment, driving digital transformation in manufacturing, constructing industrial parks, enhancing the private economy and the service sector, cultivating key enterprises, promoting High-quality Growth 2.0, and pursuing green and safe development across ten strategic initiatives.
The bureau has set specific goals as follows: a growth of over 6% in the added value of industrial enterprises above designated size; an increase of more than 18% in industrial investments, aiming to reach 140 billion yuan; a surge of over 12% in investments for technological upgrades, aiming for 75 billion yuan; promotion of digital transformation in 1,500 industrial enterprises above designated size; a 15% or more growth in revenue from internet and related service sectors; a minimum of 10% revenue growth in the software and information technology services sector; construction of 3,900 new 5G base stations within the year; an 8% increase in telecommunications service volume; introduction of 20 new specialized and sophisticated "Little Giant" companies; elevation of over 1,000 firms from small to medium size, all while comprehensively building a modern industrial system and eagerly showcasing new initiatives and responsibilities in Dongguan's practice of Chinese path to modernization.
Continuously expanding credit fund allocation in the “Year for Investment”
Whether it’s the critical push during the “Year for Investment” or advancing new industrialization, the key lies in how to ensure the proper allocation of resource elements. The citywide conference on high-quality development and the on-site promotion meeting of the High-quality Development Project for Guangdong Counties, Towns and Villages held on the afternoon of this February 18th, proposed leveraging the dynamic role of finance, continuously innovating financial services, and driving high-quality economic development with efficient allocation of financial resources.
In an active response to the call of these conferences, Dongguan Municipal Financial Bureau has pledged to guide its efforts with the High-quality Development Project for Guangdong Counties, Towns and Villages. It will continuously expand the allocation of credit funds during the “Year for Investment” and demonstrate new responsibilities in supporting the construction of Dongguan as an international hub for science and innovation manufacturing.
In terms of financial support for the transformation and upgrading of traditional industries, an enhanced bank-enterprise linkage mechanism involving “chain-leader enterprises + partner banks + SME clusters” will be utilized to bolster the provision of initial, renewed and credit loans to small and micro businesses. With respect to financial support in cultivating and developing new productive forces, a collaborative financing mechanism that includes the government, banks, insurance, guarantees and funds, will be set up to actively develop scientific and technological finance and expedite the growth of emerging sectors like green finance, inclusive finance and digital finance.
Over the past year, Dongguan has welcomed four new domestic and foreign-listed companies, increasing the total to 80. This includes a rise to 58 A-share listed companies, placing Dongguan at the forefront of prefecture-level cities in Guanggdong Province. The city also leads in the number of companies that have passed the review, are in the queue for approval, or are under guidance for filing, creating a “Dongguan Module” dominated by advanced manufacturing industries such as electronic information, robotics, new energy, and new materials. In 2024, Dongguan will continue to implement the “Kunpeng Plan” in depth, facilitating precise alignment between enterprises and capital for efficient financing.
