CNBC:

Guangdong, known for its robust manufacturing and export sectors, is striving for high-quality development. Could you provide insights into the status of both high-end manufacturing within the province and exports from the province? What proportion do they constitute in overall local development? Additionally, what are the province's plans for advancing high-end manufacturing, particularly in preventing inefficient investments? Thank you. 

Tu Gaokun:

Thank you for your questions. Guangdong steadfastly upholds the real economy as its foundation with manufacturing as its backbone. The local manufacturing industry is both our "pillar" and "cornerstone." As a globally significant manufacturing hub, Guangdong's manufacturing enterprises of designated size achieved a total operating income of 17 trillion yuan in 2023, and value-added of the manufacturing sector accounted for 32.7% of GDP. When combined with manufacturing-related productive service industries, this figure exceeded 60%. Notably, in the first two months of this year, Guangdong's manufacturing enterprises of designated size saw a robust 10.8% year-on-year increase in value-added, signaling a clear trajectory toward more steady growth.

Guangdong, as a leader in foreign trade and investment, has maintained strong connections with global markets and industrial and supply chains which are characterized by mutual interdependence. Manufacturing of goods accounts for 95% of Guangdong's total import and export volume, with exports reaching nearly 5.4 trillion yuan in 2023, two-thirds of which are from the equipment manufacturing sector. In the first two months of this year, exports amounted to 878 billion yuan, a remarkable 27.2% year-on-year increase. Through collaborative partnerships with numerous foreign counterparts, Guangdong's manufacturing industry actively contributes to globalization, fostering mutual benefits and win-win outcomes.

We have always believed that there is no such thing as a "sunset industry," only "sunset businesses." Whether it is traditional industries that cater to basic necessities of life, emerging industries that explore new frontiers or future industries with their boundless possibilities, they are all essential for social development and equally important. Guangdong has been steering manufacturing toward the mid- and high-end in global value chains in recent years. We continue to promote industrial innovation through technological innovation, making breakthroughs in a series of key core technologies and products to meet the increasingly sophisticated demands of domestic and international markets. Guangdong is home to five state-level manufacturing innovation centers, including those focused on new energy storage, which will play an even greater role in the future. We continue to build the foundation of the real economy through industrial clusters and support the comprehensive development of 10 strategic pillar industries, 10 strategic emerging industries, and five future industries to create new growth engines such as biomanufacturing, commercial aviation and the low-altitude economy. We continue to empower the manufacturing industry with digital intelligence, and guide the digital transformation of the manufacturing industry from "point" to "chain" and expanding to "network," promoting artificial intelligence to empower new industrialization, accelerating the green transformation of production methods, and forming green production.

In this process, we are committed to encouraging all types of advanced and high-quality production factors to flow smoothly into high-efficiency, high-quality manufacturing fields and improving total factor productivity. At the same time, we are willing to continue working with our partners to provide diverse opportunities and choices for global investors and consumers. Thank you.