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GDD garners advantages in investment attraction

Updated : 2024-05-20

Guangzhou Development District (GDD) delivered an investment surge in 2023. Through targeted initiatives and innovative policy frameworks, the district's economy reached a 1.2 percent annual increase in 2023. 

Key economic indicators highlighted resilience, with fixed asset investment reaching 200 billion yuan ($27.68 billion), up 4.1 percent, and general public budget revenue soaring to 20.81 billion yuan, up 14.3 percent.

Traditional industries accelerated transformation and upgrade in 2023. Strategic emerging industries flourished as companies like XPeng, BeiGene, and Huaxing Optoelectronics ramped up production. Hydrogen energy and Hengyun New Energy Storage projects began operations. 

Intelligent equipment and organic polymer materials were recognized as notable industrial clusters by the Ministry of Industry and Information Technology and Guangdong province.

Expanding new industrial frontiers received continuous support by the district, including the 10 supportive policies for low-altitude economy and EHang's achievement of the world's first manned unmanned aerial vehicle system qualification certificate.

These efforts elevated GDD as an industrial powerhouse, setting the stage for sustained growth and development.

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