pearl river delta economic zone

In addition, Guangdong has published its `Intelligent Manufacturing Development Plan: 2015-2025' to develop more innovative and advanced industries. The Pearl River Delta Economic Zone is nine times bigger than New York City Hong Kong is situated within the Pearl River Delta in Southern China, also known as the “Greater Bay Area”. Shanghai is a logisticscenter and mainland China’… Shenzhen became a leader in terms of foreign exchange markets, operation of foreign banks, land reforms, and stock market development. Pearl River Delta Economic Zone listed as PRDEZ. As a result, Zhuhai is now a major city in the Pearl River Delta region according to the new general urban plan approved by the State Council. The region has a large number of manufacturing industries. Guangzhou is now one of three major automotive manufacturing bases in China. ... by extending similar favorable policies to 14 “coastal open cities” and in the following year to cities in the Pearl River Delta, the Yangtze River Delta, and the Min Delta in Fujian. EMAIL. The explosive growth the Pearl River Delta has upended the regional balance of power. The Pearl River Delta is moving towards a high-tech-oriented exporting region. A report by the World Bank described this zone as the largest urban area in the world. For example, the automobile industryhas a good foundation in the region, with Shanghai and all three surrounding provinces contributing to its success. Its world production share in parts of the toy industry, for example, exceeds 60 per cent. It covers an area of 24,437 square kilometers, occupying around 14% land of Guangdong Province. A 2015 report concluded that, if taken as a single urban area, the zone is the largest such area in the world in both area and population.[3]. Its geographic coordinates are 112˚00′ - 115˚24′E, 21˚43′ - 23˚56′N (Figure 1). In fact, just prior to the handover from the United Kingdom to China, the city’s economic output was equal to a quarter of China’s entire GDP. As the most dy­namic re­gion in the Chi­nese Main­land, it is in­creas­ingly im­por­tant as a mar­ket. It locates at the Pearl River estuary where the river enters the South China Sea. A wave of new investment will see the region's reinvention pull in yet more wealth. On the basis of analysis of the water environment status and pollution sources, it is suggested that domestic sewage is the primary cause of pollution. It gave the area a certain degree of autonomy in terms of customs, finance and taxes. To install click the Add extension button. It is located at the Pearl River estuary where the river enters the South China Sea. National Development and Reform Commission, Guangdong-Hong Kong-Macao Greater Bay Area, http://www.pacificshipper.com/news/article.asp?sid=33272<ype=transpacific, Economic profile for the Pearl River Delta, Guangdong-Hong Kong-Macau Greater Bay Area, Grasping the large, letting go of the small, China Banknote Printing and Minting Corporation, Ministry of Industry and Information Technology, State-owned Assets Supervision and Administration Commission, State Administration for Industry and Commerce, China Council for the Promotion of International Trade, All-China Federation of Industry and Commerce, Mainland and Hong Kong Closer Economic Partnership Arrangement, Mainland and Macau Closer Economic Partnership Arrangement, Regional Comprehensive Economic Partnership. For the first ten years of China's economic reform process, the internationalization of the Chinese economy was largely a Pearl River Delta phenomenon, with the export-oriented production of foreign-invested entities based in Shenzhen, Dongguan, and Guangzhou leading the way. Not only will it complement the Blue Chip-focused Shanghai-Hong Kong Stock Connect, the new stock-trading link will unlock access to Shenzhen's 1,790 listed companies and a whole wave of opportunity to invest in and develop Chinese technology firms. This will liberalise cross-border trade in 53 sectors which the Mainland has fully or partially opened up to the Hong Kong services industry. This is especially so as Guangdong features as a part of China's experimental Free Trade Zone (FTZ) programme, set up in 2013 to ease cross-border trade and investment flows, whilst boosting growth in domestic services and innovation. Hong Kong is also the largest source of FDI in Guangdong, accounting for 65 per cent of Guangdong's GDP. China and the history of its Special Economic Zones. The economic development of the Pearl River Delta Economic Zone took off after the reform program was instituted. PRD's retail sector has developed quickly with its major consumer markets of Guangzhou and Shenzhen featuring every kind of retail outlet from shopping mall to street vendor. Not only is Hong Kong integral to future plans associated with enhanced connectivity and interaction between major cities in the Greater Bay Area, it experiences very high levels of visitor arrivals. By 2014 FDI utilisation reached USD24.9bn. Success saw PRD not only become the most populous centre but also one of the most productive, assuming a role as a major manufacturing location for the world. Adjacent Hong Kong and Macau are not part of the economic zone. At the close of the 20th century, Hong Kong was the undisputed economic powerhouse of the region. LAST NAME. With a population of 36 million and a GDP of 2,852.9 billion yuan (approximately $419.5 billion), its economy is comparable in size to that of Taiwan. The Pearl River Delta Economic Zone (simplified Chinese: 珠江三角洲经济区; traditional Chinese: 珠江三角洲經濟區; pinyin: ZhÅ«jiāng Sānjiǎozhōu JÄ«ngjìqÅ«) (once called 粤江平原),[citation needed] is a special economic zone on the southeastern coast of China. By 2015, according to World Bank figures, it had become the world's largest urban area in both size and population. CHINA ESTABLISHES THE LARGEST MEGACITY IN THE WORLD (2017) -BrosTV. The 2008-20 plan, released by China's National Development and Reform Commission, is designed to boost the pan-Pearl River Delta as a "center of advanced manufacturing and modern service industries", and as a "center for international shipping, logistics, trade, conferences and exhibitions and tourism". Add this to your Profile Term Page Advertisement Social Share. I use WIKI 2 every day and almost forgot how the original Wikipedia looks like. With a widening sweep of sectors entering the region, industrial clusters such as these have naturally formed in PRD. Year Title Co-occurring Abbreviation; 1 : 2015: The Effects of Socioeconomic and Environmental Factors on the Incidence of Dengue Fever in the Pearl River Delta, China, 2013. The main goal of this … By 2014 FDI utilisation reached USD24.9bn, or 20.8 per cent of the national total. It also is a major mar­ket for trans­porta­tion and trade-re­lated ser­vices. The explosive growth the Pearl River Delta has upended the regional balance of power. Given the massive scale of its export sector, the region has become an important industrial market for all sorts of inputs, materials, and capital goods. The east part of the Pearl River Delta major on manufacturing electronics whereas the west part of the region focuses on household appliance production. Special report … In fact, just prior to the handover from the United Kingdom to China, the city’s economic output was equal to … In the 1980s, Special Economic Zones, including those in PRD, were used to test the water further, focusing on the development of manufacturing and exports. FOLLOW US. For UK companies in a range of sectors including retail, services, technology and industry, PRD is an opportunity waiting to be taken. PRD has one more ace up its sleeve. Pearl River Delta Economic Zone - How is Pearl River Delta Economic Zone abbreviated? The foreign direct investment in the region was 20.8% of the total national investment three years ago and has continued to rise. Pearl River Delta Economic Zone is located in the middle part of Guangdong Province, facing to the South China Sea in the south and is adjacent to Hong Kong and Macao. We have created a browser extension. PEARL RIVER DELTA ECONOMIC ZONE Like this topic? The Pearl River Delta Economic Zone (PRDEZ) is one of the most vigorous economic regions in China, and even in the world. The entire region is covered by a rail network and by 2018, an express rail link will connect Guangzhou, Shenzhen and Hong Kong. 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The implementation of Special Economy Zone intended for the city to become a key port city, science and education city, scenic … Provide your customers with a choice of ways to pay - online and in your retail outlet - to help you improve your cash flow, Protect what matters most with business insurance policies and workplace pensions provided by our preferred partners, Benefit from our extensive experience of providing guarantees so you can trade with increased security and reduced risk, Find the guidance you need to help you trade securely and cost-effectively overseas. Guangdong and in particular the Pearl River Delta has seen phenomenal growth since the late 1970s when Deng Xiaoping implemented his “open door” economic reform policies. X. Services such as education, recreation, travel and telecoms have all increased their share of the economy, many driven by the demands of PRD's flourishing middle class. Let our cash consultants simplify your payables so you can make payments swiftly, efficiently and securely. Rapid ur­ban­i­sa­tion and bur­geon­ing city pop­u­la­tions have cre­ated de­mand for in­fra­struc­ture, b… Foreign Direct Investment (FDI) has played a huge part in PRD's development. Accepting card payments from your customers, How China is shaping global trade and investment flows, Developing a corporate renminbi trade strategy, How UK businesses could succeed in ASEAN trade, Pearl River Delta economy: an opportunity for all, Customer Case Study: Kit for Kids and Lyons Coffee get real in China, Customer case study: Business as usual for Royce, To make an appointment or discuss your business needs, Careers, media, investor and corporate information. During that period, the average real rate of GDP growth in the Pearl River Delta Economic Zone exceeded 16 percent, well above the People's Republic of China national figure of 9.8 percent. Search the information of the editorial board members by name. Starting in 1979, Guangdong Province and the SEZs were given greater political and economic autonomy than other jurisdictions in the Chinese Mainland. To balance regional development and alleviate energy pressure, this work explores the embodied energy flows inside and outside of the JJJ, YRD, and PRD economic zones from 2007 to 2012. Lei Dou, Tingting Li. How did it achieve this growth and what does it have to offer UK businesses? In the early days of its industrial development, PRD mostly engaged in the labour-intensive manufacture of consumer goods. PRDEZ - Pearl River Delta Economic Zone. The Pearl River Delta Economic Circle : The Pearl River Delta Economic Circle is comprised by 9 cities sprawling along the Pearl River, including Guangzhou, Shenzhen, Foshan, Zhuhai, Dongguan, Zhongshan, Huizhou, Jiangmen and Zhaoqing. It has been the most economically dynamic region of the Chinese Mainland since the launch of China's reform program in 1979. The phenomenal rise of the Pearl River Delta (PRD) region, located in the province of Guangdong, can be attributed to China's economic reform and 'open-door' policy. The railway will be linked to Guangzhou-Shanwei railway, connecting the Pearl River Delta with the economic zone to the west of the Taiwan Strait, as well as the Yangtze River Delta. Given the mas­sive scale of its ex­port sec­tor, the re­gion has be­come an im­por­tant in­dus­trial mar­ket for all sorts of in­puts, ma­te­ri­als, and cap­i­tal goods. PRD also has some of China's key sea and inland port facilities, one of which, Shenzhen, became the world's third busiest container seaport in 2015, after Shanghai and Singapore. Its world production share in parts of the toy industry, for example, exceeds 60 per cent. Areas of greater autonomy included finance and fiscal matters, foreign trade and investment, commerce and distribution, allocation of materials and resources, labor, and prices. Guangdong's early experience with reform allowed a market-oriented culture to develop earlier than in other places in the Chinese Mainland. Foreign Direct Investment (FDI) has played a huge part in PRD's development. According to HKTDC, retail sales of consumer goods in PRD reached RMB2,065.6bn in 2014, its citizens enjoying a per capita GDP of RMB100,448 - or 2.2 times the national average. In this regard, Shenzhen, Dongguan, Foshan, and other parts of the Pearl River Delta Economic Zone have been at the forefront of private sector development in China.[4]. The Pearl River Delta Eco­nomic Zone ac­counted for 19.9 per­cent of GDPand 38.9 per­cent of total trade in 2005. It has been undergoing a rapid urbanization since the reformation and opening of China in 1978. Governmental » Economy. In November 2015, PRD National Independent Innovative Demonstration Zone (PRD NIIDZ) was approved by the State Council as the first and only region-wide NIIDZ, promoting independent innovation and high-tech industry development. The Pearl River Delta has the fastest growing economy in China and the world. In parallel with this development, the region's tertiary sector has expanded too. The Pearl River Delta Economic Zone encompasses nearly 7000 square kilometers, 0.07 percent of China, with a population of 42 million people, 3.1 percent of the 2010 population of mainland China. The growing economy … Goals include the development of two to three new cities in the Guangdong-Hong Kong-Macao Greater Bay Area, the development of 10 new multinational firms, and expansion of road, rail, seaport and airport capacities by 2020. The Pearl River Delta Economic Zone is one of the most developed regions in China. The Pearl River Delta Economic Zone is also a highly attractive consumer market. Since the onset of China's reform program, the Pearl River Delta Economic Zone has been the fastest growing portion of the fastest growing province in the fastest growing large economy in the world. Infrastructure development has been key, particularly in attracting foreign investment. Add to My List Edit this Entry Rate it: (0.00 / 0 votes) Translation Find a translation for Pearl River Delta Economic Zone in other languages: Select another language: - Select - 简体中文 (Chinese - Simplified) Would you like Wikipedia to always look as professional and up-to-date? Pearl River Delta economic zone: Abbreviation Variation Long Form Variation Pair(Abbreviation/Long Form) Variation No. It is also part of … You will lose any information you have entered. They also included duty-free treatment of imports of raw materials and intermediate goods destined for exported products, as well as exemption from export taxes. However, areas in the region also have their own strengths in specific areas. In recent years, the development environment for indigenous private-owned enterprises has improved dramatically in the Pearl River Delta Economic Zone and local firms are now playing an ever-growing role in the region's economy. Rapid urbanization and burgeoning city populations have created demand for infrastructure, building materials, transportation services, housing, and other goods and services associated with urban development. Are you sure you want to close the window? The construction of 1,864 miles (3,000 km) of highways in the region was to be completed by 2012, and rail expansions of 683 miles (1,099 km) by 2012 and 1,367 miles (2,200 km) by 2020. The Yangtze River Delta region was one of the first regions in China to develop and open-up, and is now known for its competitive and innovative industries. Preferential policies in the SEZs included a number of features designed to attract foreign investment, such as a 15 percent tax rate, tax holidays of up to five years, and the ability to repatriate corporate profits and to repatriate capital investments after a contracted period. This activity has seen Guangdong positioned by the Chinese Central Government as the Strategic Maritime Hub and Economic & Trade Cooperation Centre in the country's Belt and Road economic development initiative, officially making it a key link to world trade. [2], The Pearl River Delta Economic Zone encompasses nearly 7000 square kilometers, 0.07 percent of China, with a population of 22 million people, 3.1 percent of the 2010 population of mainland China. GET OUR WEEKLY EMAIL UPDATES. In 2008, China announced plans to connect the nine key PRD cities of Guangzhou, Shenzhen, Dongguan, Zhaoqing, Foshan, Huizhou, Jiangmen, Zhongshan and Zhuhai into a single `megacity'. This set in motion a series of massive infrastructure projects, merging transport, energy, water and telecoms networks, further boosting economic development. The source code for the WIKI 2 extension is being checked by specialists of the Mozilla Foundation, Google, and Apple. The region's economy is referred to as Pearl River Delta Economic Zone. Clusters are well-defined at city-level but all can take advantage of the supply chain that inevitably gravitates towards them. One of the major problems in the region is the sustainable utilization of the water resources. [1], The zone is formed by 9 cities, namely Guangzhou, Shenzhen, Foshan, Zhuhai, Jiangmen, Zhongshan, Dongguan, four districts and counties of Huizhou and four districts and counties of Zhaoqing. The Pearl River Delta made Hong Kong richer 40 years ago – the Greater Bay Area is a chance to repeat history Victor Fung says Hong Kong should … Guangzhou is now one of three major automotive manufacturing bases in China. The Pearl River Delta Economic Zone accounted for 19.9 percent of GDP and 38.9 percent of total trade in 2005. In the process, a region that was once largely agricultural has emerged as a manufacturing platform of global importance. That's it. In 1988, Guangdong was granted expanded powers to set its own economic direction, and was designated a 'comprehensive economic reform area'. It will enhance any encyclopedic page you visit with the magic of the WIKI 2 technology. Regional Geochemical Characteristics and Influence Factors of Soil Elements in the Pearl River Delta Economic Zone, China. The Pearl River Delta Economic Zone is the most dynamic economic area in South China. This gave rise to the creation of the Shenzhen Stock Exchange, as well as development of a land lease system and some privatization of housing. The Jing-Jin-Ji (JJJ), Yangtze-River-Delta (YRD) and Pearl-River-Delta (PRD) are three major economic zones located in China’s coastal areas. The Pearl River Delta Economic Zone is one of China’s leading economic regions and a major manufacturing center. Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. In the 1980s, Special Economic Zones, including those in PRD, were used to test the water further, focusing on the development of manufacturing and exports. Looking for abbreviations of PRDEZ? The zone is formed by 9 cities, namely Guangzhou, Shenzhen, Foshan, Zhuhai, Jiangmen, Zhongshan, Dongguan, four districts and counties of Huizhou and four districts and counties of Zhaoqing. To balance regional development and alleviate energy pressure, this work explores the embodied energy flows inside and outside of the JJJ, YRD, and PRD economic zones from 2007 to 2012. PRD now has a complete network for air, land and sea transportation. International Journal of Geosciences Vol.6 No.6,June 18, 2015 . By sourcing components and even end-users locally lead times fall and costs are reduced. The region boasts the bulk of China’s automotive, petrochemical and electronics powerhouses and marks the genesis of countless complex global supply chains. It plays a key role in deepening economic cooperation with Hong Kong and Macau and includes two-way RMB financing between the FTZ and the two offshore centres. Home to some 120 million people, the Pearl River Delta Economic Zone generates 3.8% of global wealth. The Jing-Jin-Ji (JJJ), Yangtze-River-Delta (YRD) and Pearl-River-Delta (PRD) are three major economic zones located in China’s coastal areas. The region's GDP grew from just over US$8 billion in 1980 to more than US$89 billion in 2000 and nearly US$221.2 billion in 2005. In 1979, the Central Government of the People's Republic of China announced that Guangdong Province would be allowed to follow less restrictive economic policies and would be permitted to set up three Special Economic Zones (SEZs), including two in the Pearl River Delta, Shenzhen and Zhuhai. Guangdong is also aiming to move beyond the purely industrial, adding a services oriented model. The Pearl River Delta Economic Zone has six prefecture-level cities with per capita GDP in excess of 50,000 yuan (approximately $7,300). Progress to this status has been rapid but has been achieved in stages. It will enhance any encyclopedic page you visit with the magic of the WIKI 2 technology. From 2000 to 2014, private enterprise exports rose from USD4.1bn to USD222.3bn. PRD still leads the world in a number of light industrial sectors. Pearl River Delta Economic Zone. It is a world leader in the production of electronic goods, electrical products, electrical and electronic components, watches and clocks, toys, garments and textiles, plastic products, and a range of other goods. The PRD is ripe for a variety of UK businesses to explore. In 2015, Hong Kong, Taiwan and Macau together contributed over 31 per cent of Guangdong's trade (Hong Kong contributing 24.6 per cent). You could also do it yourself at any point in time. Cities such as Shenzhen and Guangzhou are among the most affluent in the Chinese Mainland. It forms part of the western side of the Pearl River Delta Economic Zone, which includes Guangzhou to the east and northeast and Zhongshan to the southeast. Congratulations on this excellent venture… what a great idea! According to HKTDC, retail sales of consumer goods in PRD reached RMB2,065.6bn in 2014, its citizens enjoying a per capita GDP of RMB100,448 - or 2.2 times the national average. PRD now known as a hi-tech innovation centre due to its successful transformation from a processing trade manufacturer, “Pearl River Delta National Independent Innovative Demonstration Zone (PRD NIIDZ)” - approved by the State Council in November 2015 as the first and only region-wide NIIDZ, Guangdong has formulated “Intelligent Manufacturing Development Plan: 2015-2025” to develop more innovative and advanced industries. Long considered the southern gate to China, the Pearl River Delta was designated as the open door to China through which the country would attract foreign direct investment and make its move towards a more market … Shenzhen is leading investment with an estimated 4 per cent of the city's GDP, a ratio that brings it close to tech leaders like South Korea and Israel. It has created industrial end-user clusters for synthetic rubber, surfactants, synthetic resin, chemical intermediates, and fine chemicals. The Pearl River Delta economic zone (PRD) is one of China's leading economic regions and a major manufacturing center. They include construction of the 31-mile (50 km) Hong Kong–Zhuhai–Macau Bridge linking Hong Kong, Macau and the Pearl River Delta. Before 1979, China's Pearl River Delta region was mostly agricultural land. The phenomenal rise of the Pearl River Delta (PRD) region, located in the province of Guangdong, can be attributed to China's economic reform and 'open-door' policy. Following a spate of industrial relocation from 1985 onwards, mostly from Hong Kong, light industry expanded. FIRST NAME. Located in the Pearl River Delta, it consists of the Chinese cities of Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, and parts of Huizhou and Zhaoqing. The next site will open in a new browser window or tab. Guangdong's FTZ consists of three regions: Guangzhou Nansha, Shenzhen Qianhai Shekou, and Zhuhai Hengqin New District. GET WEEKLY UPDATES. The petrochemicals complex at Daya Bay Huizhou Economic and Technological Development Zone demonstrates this effect, attracting oil refining and ethylene production companies from the US, the UK, Japan, the Netherlands and South Korea amongst others. It is Pearl River Delta Economic Zone. GO. According to the Hong Kong Trade Development Council (HKTDC), PRD still leads the world in a number light industrial sectors. The Shenzhen-Hong Kong Stock Connect programme, expected to launch in December 2016, will allow global investors access to this USD3.2trn, tech- and pharma-heavy exchange. Shenzhen itself is now China's de facto `Silicon Valley', playing host to major ICT companies including the nationwide ISP, Tencent, and global players such as ZTE and Huawei. At the close of the 20th century, Hong Kong was the undisputed economic powerhouse of the region. Company spending on R&D as a share of GDP is greater in Guangdong than anywhere else in the country. This process plays a significant impact on the urban environment, particularly river water quality. It also is a major market for transportation and trade-related services. Manufacturing companies opened up factories, creating a vibrant economic centre. In the 1990s, heavy industry arrived, bringing hi-tech electronic equipment and machinery, chemical production and automotive manufacture. The development – or urbanization – of the Pearl River Delta began in the 1980s when China created the Pearl River Delta Special Economic Zone to attract foreign investment. To this end, since 2015, the province has worked to establish free trade with Hong Kong under the Closer Economic Partnership Agreement (CEPA) framework. Close links to Hong Kong and Macau mean that Pearl River Delta region consumers adopt international tastes earlier than most places in China, making the region one of the trend setters in China. As the most dynamic region in the Chinese Mainland, it is increasingly important as a market. Can it show the way for the rest of the country? The Pearl river delta is China’s most dynamic, open and innovative region, says Vijay Vaitheeswaran. The Pearl River Delta Economic Zone (simplified Chinese: 珠江三角洲经济区; traditional Chinese: 珠江三角洲經濟區; pinyin: Zhūjiāng Sānjiǎozhōu Jīngjìqū) (once called 粤江平原), [citation needed] is a special economic zone on the southeastern coast of China. The region's economy is referred to as Pearl River Delta Economic Zone. The exports from the region are about 40% of the total export in China. As the population and affluence of PRD has expanded so too has the consumer market. Look as professional and up-to-date to this status has been rapid but has been achieved in stages labour-intensive manufacture consumer... The automobile industryhas pearl river delta economic zone good foundation in the 1990s, heavy industry arrived bringing. 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