By Gabby Chen
(JW Insights) Jun 1 -- Southern China's Guangdong Province has been the country's economic and manufacturing powerhouse, with its GDP ranking at the national top for 34 consecutive years. It is making new strenuous efforts in upgrading its manufacturing strength, according to a report by Spanish newspaper El Mundo on May 26.
With a population exceeding 126 million, Guangdong has witnessed remarkable progress since the start of China's reforms and opening-up 45 five years ago.
Guangzhou, the commercial hub and provincial capital of Guangdong Province, is renowned as a highly sought-after investment destination in China. It has garnered consistent recognition and holds a prominent position among global leading corporations and institutions of scientific and technological research and development.
Guangzhou, also known as the epicenter of China's prominent wholesale clothing market, is home to the Zhongda Fabric Market. This marketplace is a nine-story labyrinth housing over 20,000 fabric and clothing stores. Surrounding the main complex are numerous small factories, workshops, warehouses, and logistics centers. The entire chain sustains an extensive market that generates annual sales exceeding RMB200 billion ($28.17 billion).
Chinese fast fashion retailer Shein has its headquarters and clothing workshop in Guangzhou. The brand enjoys widespread popularity across Europe and the US. Shein's valuation surpasses the combined worth of ZARA and H&M, both of which, along with over 2,800 other international brands, rely on the fabrics supplied by the Zhongda Fabric Market.
Álvaro Castells, a biochemist who has been living in Guangzhou for three years, explained, "Here they have turned entire neighborhoods into incubators for companies, and the authorities of these neighborhoods organize open competitions for neighbors to present innovative ideas. There are many incentives for development."
Castells highlights the city's projects such as an island that they took in the middle of the river that crosses the city and that they are turning into a biological campus with an area of almost two square kilometers, full of companies and research centers. "Despite the rapid development and high level of industrialization in Guangzhou, green spaces can be found everywhere in the city, " he added.
Guangdong is also the location for the globally acclaimed technological hub of Shenzhen, which has played a pivotal role in nurturing China's industry giants like Huawei and Tencent, earning it a reputation for being the Chinese Silicon Valley, said the El Mundo report.
