Zhuhai real economy alive with innovation

Last year, industrial development made up 74.88 percent of Zhuhai's total economic growth, thanks to incentivizing policies such as tax reductions, investment funding, and various subsidies.

The Zhuhai government has launched a slew of new measures to boost real economic development while promoting the implementation of real economic supporting policies.

As a result, in 2018, the added value of the city's advanced manufacturing, equipment manufacturing, and high-tech manufacturing industries accounted for 54.8 percent, 39 percent, and 29.3 percent, respectively, of industrial enterprises above a designated size. The added value of industrial enterprises above a designated size climbed 14.1 percent to 108 billion yuan ($16 billion). Local enterprises benefited from lower costs due to a combined tax reduction of 26.2 billion yuan.

Favorable conditions resulted in an increased number of innovators, with Gree Electric Appliances being a perfect example. The world's largest supplier of air conditioners based in Qianshan area, Xiangzhou District is well known for its remarkable innovative abilities. The company registered 1,834 patents last year, ranking sixth among all companies on the Chinese mainland – one spot higher than in 2017. It was recently granted 12 China Patent Awards, including the only gold invention patent award for the air-conditioning field.

More than 1,900 Zhuhai companies were identified as High & New-Technology Enterprises. They are all following Gree's lead in pursuing innovation-driven development.

Zhuhai is also eyeing an area to set up headquarters for unicorn enterprises in pioneering industries. To this end, the city is offering its full support in terms of policy, capital, talents, and procedures to ensure companies receive the assistance they need throughout their development process.

In addition, new facilities have been set up to facilitate innovation, including two national-level and 17 provincial-level technical centers, 56 provincial engineering technology research centers, and two provincial manufacturing innovation centers. Construction on the Fudan Innovation Research Institute and Hengqin Science City is now progressing at a faster rate, while the South China University of Technology-Zhuhai Institute of Modern Industrial Innovation and the Pilot Area of the Zhuhai Intelligent Industrial Park have already been put into use.

The words "development is the top priority" sit among a flower bed in the Zhuhai National Hi-Tech Industrial Development Zone.

Zhuhai's hi-tech companies regularly attend a number of fairs and exhibitions.

The Hengqin China-Latin America Economic and Trade Cooperation Park provides legal aid, policy research, trade facilitation, and e-commerce services. [Photos by Zhong Fan / Zhuhai Daily]