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China’s Guangdong Province Surpasses 75,000 High-Tech Enterprises, Underscoring Innovation and Economic Strength

Guangzhou, February 19, 2024, The Europe Today: Guangdong Province in south China has reported that the total number of high-tech enterprises within its borders has exceeded an impressive 75,000, according to announcements made at a provincial conference on high-quality development.

As of the end of 2023, Guangdong Province showcased its robust investment in research and development (R&D), with an estimated annual expenditure exceeding 460 billion yuan (approximately 64.8 billion U.S. dollars). This investment has led to a thriving innovation ecosystem, with 1.35 million R&D personnel actively contributing to the province’s technological advancements.

The province has secured its position as a hub for innovation, holding over 665,000 valid invention patents, a testament to the ingenuity and creativity of its workforce. Additionally, Guangdong has filed an impressive 23,700 international patent applications through the Patent Cooperation Treaty (PCT), further establishing its global presence in the field of technological innovation.

Gong Guoping, a representative from the provincial department of science and technology, emphasized that the innovation performance of local enterprises has become a defining strength of Guangdong’s economy. This robust innovation ecosystem has contributed significantly to the province’s economic vitality and resilience.

Guangdong, as a perennial economic powerhouse in south China, achieved a remarkable milestone with its gross domestic product (GDP) surpassing 13 trillion yuan in 2023. This marks the 35th consecutive year that Guangdong Province has led the country in GDP, solidifying its position as a driving force in China’s economic landscape.

The province’s unwavering commitment to fostering a dynamic and innovative business environment continues to propel Guangdong towards sustained economic growth and technological leadership. The achievements showcased underscore Guangdong’s pivotal role in driving high-quality development in the region and contributing to China’s global technological advancements.