 Guangzhou is a modern metropolis and the political, economic, cultural, educational and transportation center of southern China. With all of its strategic advantages in trade, transportation, market systems and location, Guangzhou is regarded as an ideal entrance point to Chinese and Asia-Pacific markets. To prove this point, Guangzhou holds the China Import and Export Fair (the “Canton Fair”) twice a year in spring and autumn. The Fair has been held over 90 times since 1957 and has become the trade showcase of China.
As one of the earliest cities opened in the early 1980s for international trade and exchanges, Guangzhou has developed vigorously and the city's comprehensive economic strength now ranks 5th in the country. Among the city's strategic industries, the three giants are petrochemicals, automotive and electronics and IT, which together had industrial output of RMB 306.8 billion in 2006. Guangzhou's economy and infrastructure are still growing and the city's modernization drive has significantly improved its investment environment, making it an ideal choice for foreign investment. Commerce in Guangzhou is prosperous and robust with 2006 GDP reaching 666.84 billion RMB, an increase of 14.7% over the previous year. Guangzhou has had an incredible decade-long run of double-digit economic growth. Looking ahead, Guangzhou will focus on developing hi-tech manufacturing industries that are suitable for the development of the airport area such as the IT sector, electronics, bio-pharmaceuticals, medical machinery and R&D centers.
Considered one of the most efficient, progressive and open-minded governments on the mainland, the Guangzhou Municipal Government has recently introduced its e-governance platform, known as "Invest Guangzhou", which is designed to provide services and information for foreign investment in Guangzhou. A garden-style coastal city and a dazzling pearl in the south of China, Guangzhou is a city perfectly suited for creating business opportunities and comfortable lifestyles.
Guangzhou's GDP and GDP Per Capita
Economic Contribution Ratios by Sector
In 2006, the city's industrial structure was further optimized with the primary industries including agriculture, animal husbandry and the fisheries contributing 2.4% towards overall GDP; the secondary industries including manufacturing and the value added sector contributing 39.9% to the city’s GDP; and the tertiary industries contributing 57.7% to GDP.
Foreign Trade Overview
International business and trade plays an integral role in the Guangzhou economy due to the city's status as one of the busiest seaports on the mainland and opposite Hong Kong, the traditional path into China for overseas investors and traders. Europe, the United States and Japan are the main markets and trade with these regions continues to develop. In 2006, import and export volume reached US$63.77 billion, up by 19.2% over the previous year, with exports up by 21.4% year-on-year to US$32.38 billion and imports up by 17.1% year-on-year to US$31.39 billion.
Guangzhou's Main Export Markets 2006 (Unit: billion USD)
Foreign Trade and Cultural Ties
Since 1979, Guangzhou has twinned with 19 cities from 18 countries all over the world, including the following:
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