Under multiple factors such as the epidemic, Guangdong’s industrial economy still plays the role of “ballast stone”.

On April 24, the Southern Financial All Media reporter learned from the first quarter press conference of the Guangdong Provincial Department of Industry and Information Technology that in the first quarter of this year, the industrial added value above designated size in Guangdong reached 0.89 trillion yuan, an increase of 5.8%, especially in March, the growth rate of 6.2%, the contribution rate to GDP growth reached 53.7%. This is 12.2 percentage points higher than the same period last year (41.5%).

UR9KH Wu Hong, deputy director of the Guangdong Provincial Department of Industry and Information Technology, said that in the first quarter, Guangdong’s industrial production remained stable, industrial investment grew rapidly, and the industrial economy showed a stable and good trend. However, at present, Guangdong’s industrial economy still faces risks and challenges such as complicated international situation, domestic epidemic spread, industrial chain and supply chain obstruction, and rising raw material costs.

“Under the overlapping impact of frequent domestic outbreaks and escalating international geopolitical conflicts, Guangdong, as a major manufacturing province, has been more affected, and it is not easy for the industrial economy to achieve stable growth in the first quarter.” Many interviewed experts said that thanks to Guangdong’s complete manufacturing supply chain and the continuous promotion of manufacturing transformation and upgrading strategy, Guangdong’s industrial economy has shown full resilience.

UR9KH Emerging industries have become a new engine for economic development

In the face of the “triple pressure” of current demand contraction, supply shock and expected weakening, new industries and new economy have become an important engine supporting the development of Guangdong’s industrial economy.

Data show that in the first quarter of this year, the value added of Guangdong’s advanced manufacturing industry increased by 5.9%, accounting for 54.3% of the value added of industrial enterprises above designated size, and the value added of high-tech manufacturing industry increased by 5.5%, accounting for 28.6% of the value added of industrial enterprises above designated size in the province.

UR9KH By industry, the industrial added value of automobiles, petrochemicals, pharmaceuticals and electrical machinery increased by 24.2%, 6.1%, 16.4% and 4.6% respectively. From the perspective of product output, the output of industrial products with higher technical content and higher added value has maintained rapid growth.

For example, in the first quarter of this year, the output of new energy vehicles in Guangdong increased by 189.6% year-on-year, accounting for 16.2% of the national output. The output of industrial robots increased by 4.1% year-on-year, accounting for 32.5% of the country’s output.

UR9KH “From a series of data, Guangdong has always adhered to the optimization and adjustment of a higher level of industrial structure, although the demand for some new products and new services has been suppressed by the impact of the epidemic, but on the good side, the potential of the field has not been fully released.” In the future, the new economy and new industries will become an important engine to promote the development of Guangdong’s manufacturing industry.” Lin Jiang, professor of economics department of Lingnan College of Sun Yat-sen University, said in an interview with the Southern Financial media reporter.

The construction of strategic industrial clusters is an important measure for Guangdong to cultivate and strengthen new driving forces for development. Data from the Guangdong Provincial Department of Industry and Information Technology show that strategic industrial clusters are showing an important supporting role.

UR9KH In the first quarter of this year, the added value of Guangdong’s 20 major strategic industrial clusters increased by 5.9% year-on-year, and the added value accounted for 38.1% of GDP, the 10 major strategic pillar industrial clusters increased by 5.2% year-on-year, and the 10 major strategic emerging industrial clusters increased by 12.6% year-on-year. Among them, the automotive industry cluster (24.2%), semiconductor and integrated circuit industry cluster (26.6%), and cutting-edge new materials industry cluster (35.2%) grew faster.

UR9KH “In recent years, emerging industries represented by new energy vehicles have shown good growth momentum and have become an important new driving force for the industrial economy and GDP growth.” Tao Feng, dean of the Institute of Industrial Economics of Jinan University, said in an interview with the Southern Financial Media reporter that on the one hand, emerging industries are closely integrated with new technologies and new models, which can better meet the structural upgrading of consumption, and on the other hand, the relevant national industrial support policies also help to promote consumption.