Be the first to like this
The PRD Economic Zone (PRDEC), which consists of Guangzhou, Shenzhen, Dongguan, Foshan, Zhongshan, Zhuhai, Jiangmen and parts of Huizhou and Zhaoqing, has since the start of the ‘Open Door’ policy been China’s most vibrant economic region. The region is now an important industrial market for all kinds of inputs, materials, and capital goods as well as a major market for transport and transport related services.
Per capita income has been growing steadily over the past thirty years, hand in hand with consumer expenditures, making cities such as Shenzhen and Guangzhou among the most prosperous in the Chinese Mainland. The region’s proximity to Hong Kong, one of the primary catalysts for the region’s early development means its consumer tastes closely follow those of the west, creating attractive markets for foreign retailers.
Although the PRDEC accounts for only 0.4 percent of China’s total land mass and less than 4 percent of the nation’s population, it accounts for more than 10 percent of the country’s GDP, and attracts almost 20 percent of all inbound FDI.