Dongguan’s private sector has once again delivered an impressive performance. According to the latest data from Huangpu Customs, in 2024, the total import and export value of Dongguan’s private enterprises reached 826.32 billion yuan, representing a year-on-year growth of 11.7% and setting a new historical high. This accounts for nearly 60% of the city’s total foreign trade value, showcasing strong growth momentum and reaffirming the role of private enterprises as the backbone of Dongguan’s foreign trade.
Customs data further reveals that Guangdong had 146,000 enterprises engaged in import and export activities in 2024, an increase of 11.6% year-on-year. Among them, private enterprises accounted for 123,000, up 13.2%. Their total import and export value reached 5.8 trillion yuan, marking a 15.2% increase and pushing their share of Guangdong’s total foreign trade to 63.6%.
In Dongguan, renowned as the “World Factory”, the private sector continues to shine. Private enterprises contribute significantly to the local economy, with over 1.7 million business entities, accounting for about one-tenth of the provincial total and securing the top spot among all prefecture-level cities in Guangdong. These enterprises are thriving, reflecting the city’s dynamic and robust economic landscape. Notably, 90% of Dongguan’s specialized and sophisticated enterprises (“Little Giants”) and national high-tech enterprises are private businesses. Furthermore, 80% of the city’s technological innovation achievements stem from the private sector, with numerous industry champions, leading enterprises, and renowned brands emerging across various fields. Private enterprises have become the strongest pillar of Dongguan’s advanced manufacturing sector.
Dongguan Olight Mobile Lighting Co., Ltd. is one such private enterprise that has successfully transformed from an OEM manufacturer into an independent brand owner. Specializing in the research, development, production, and sales of mobile lighting and professional equipment, Dongguan Olight holds 313 core patents. As a provincial-level specialized and sophisticated enterprise, Dongguan Olight developed 40 new products in 2024, including EDC flashlights, high-power batteries, and flashlight kits. These innovative products, with their enhanced brightness, portability, and durability, have been well-received by international consumers, with exports reaching markets in Europe, the United States, and Southeast Asia.
“In January this year, our export value reached 108 million yuan, marking a remarkable 92% year-on-year growth. Notably, new products accounted for more than 14% of our total exports”, said Ms. Zhou Li, Head of Dongguan Olight Logistics Center.
Another example is Animal Magic Asia Ltd., a Dongguan-based private enterprise specializing in the production and sales of plush toys. With over 20 years of history, its products are exported to North America, Europe, and other regions. Inside its busy production workshop, workers meticulously carry out cutting, sewing, assembling, and stuffing processes, ensuring a smooth workflow that results in the creation of tens of thousands of finely crafted plush toys.
“We focus on incorporating different cultural elements from various countries and regions into our export products while integrating technological features and modern aesthetics. This approach aligns well with the preferences of young consumers, helping us build a solid customer base and earn their trust internationally”, said Mr. Wu Conglun, Director of Animal Magic Asia Ltd.. “This year has started on a strong note for us, with exports growing 25.6% year-on-year in the first two months. At present, our orders are already booked through May.”
From an “OEM City” to a “Brand Capital”, Dongguan’s private enterprises are spearheading the transformation and upgrading of Chinese manufacturing, creating a benchmark for the Greater Bay Area. As “Dongguan Smart Manufacturing” gains increasing global recognition at international exhibitions, the city’s spirit of innovation is redefining the value distribution of global industrial chains.
