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. Let our cash consultants simplify your payables so you can make payments swiftly, efficiently and securely. Guangdong's FTZ consists of three regions: Guangzhou Nansha, Shenzhen Qianhai Shekou, and Zhuhai Hengqin New District. Rapid ur­ban­i­sa­tion and bur­geon­ing city pop­u­la­tions have cre­ated de­mand for in­fra­struc­ture, b… The Pearl River Delta Economic Zone is also a highly attractive consumer market. The region has a large number of manufacturing industries. Hong Kong is also the largest source of FDI in Guangdong, accounting for 65 per cent of Guangdong's GDP. Search the information of the editorial board members by name. The Pearl River Delta Economic Zone accounted for 19.9 percent of GDP and 38.9 percent of total trade in 2005. PEARL RIVER DELTA ECONOMIC ZONE Like this topic? One of the major problems in the region is the sustainable utilization of the water resources. Shenzhen became a leader in terms of foreign exchange markets, operation of foreign banks, land reforms, and stock market development. The implementation of Special Economy Zone intended for the city to become a key port city, science and education city, scenic … From 2000 to 2014, private enterprise exports rose from USD4.1bn to USD222.3bn. The east part of the Pearl River Delta major on manufacturing electronics whereas the west part of the region focuses on household appliance production. 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. 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". 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. 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. 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. Shanghai is a logisticscenter and mainland China’… The region's economy is referred to as Pearl River Delta Economic Zone. By sourcing components and even end-users locally lead times fall and costs are reduced. 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. 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. As the population and affluence of PRD has expanded so too has the consumer market. 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. For UK companies in a range of sectors including retail, services, technology and industry, PRD is an opportunity waiting to be taken. 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. Its world production share in parts of the toy industry, for example, exceeds 60 per cent. In 1988, Guangdong was granted expanded powers to set its own economic direction, and was designated a 'comprehensive economic reform area'. The entire region is covered by a rail network and by 2018, an express rail link will connect Guangzhou, Shenzhen and Hong Kong. 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. 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. Areas of greater autonomy included finance and fiscal matters, foreign trade and investment, commerce and distribution, allocation of materials and resources, labor, and prices. That's it. I use WIKI 2 every day and almost forgot how the original Wikipedia looks like. 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. X. 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. Foreign Direct Investment (FDI) has played a huge part in PRD's development. [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. FIRST NAME. Add this to your Profile Term Page Advertisement Social Share. 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. 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. 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. 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. 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'. [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. By 2015, according to World Bank figures, it had become the world's largest urban area in both size and population. LAST NAME. It has created industrial end-user clusters for synthetic rubber, surfactants, synthetic resin, chemical intermediates, and fine chemicals. 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. 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. The Pearl River Delta Economic Zone is one of the most developed regions in China. 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. It has been undergoing a rapid urbanization since the reformation and opening of China in 1978. 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. Would you like Wikipedia to always look as professional and up-to-date? 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. In fact, just prior to the handover from the United Kingdom to China, the city’s economic output was equal to … Cities such as Shenzhen and Guangzhou are among the most affluent in the Chinese Mainland. As the most dy­namic re­gion in the Chi­nese Main­land, it is in­creas­ingly im­por­tant as a mar­ket. Clusters are well-defined at city-level but all can take advantage of the supply chain that inevitably gravitates towards them. With a widening sweep of sectors entering the region, industrial clusters such as these have naturally formed in PRD. Guangzhou is now one of three major automotive manufacturing bases in China. It will enhance any encyclopedic page you visit with the magic of the WIKI 2 technology. 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 … You will lose any information you have entered. ... 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. At the close of the 20th century, Hong Kong was the undisputed economic powerhouse of the region. 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. 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. PRDEZ - Pearl River Delta Economic Zone. 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”. Governmental » Economy. PRD now has a complete network for air, land and sea transportation. The next site will open in a new browser window or tab. 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. How did it achieve this growth and what does it have to offer UK businesses? The region's economy is referred to as Pearl River Delta Economic Zone. The Pearl River Delta Economic Zone has six prefecture-level cities with per capita GDP in excess of 50,000 yuan (approximately $7,300). Special report … In addition, Guangdong has published its `Intelligent Manufacturing Development Plan: 2015-2025' to develop more innovative and advanced industries. 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. The PRD is ripe for a variety of UK businesses to explore. Infrastructure development has been key, particularly in attracting foreign investment. Its world production share in parts of the toy industry, for example, exceeds 60 per cent. However, areas in the region also have their own strengths in specific areas. To this end, since 2015, the province has worked to establish free trade with Hong Kong under the Closer Economic Partnership Agreement (CEPA) framework. 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. It will enhance any encyclopedic page you visit with the magic of the WIKI 2 technology. Before 1979, China's Pearl River Delta region was mostly agricultural land. Starting in 1979, Guangdong Province and the SEZs were given greater political and economic autonomy than other jurisdictions in the Chinese Mainland. 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. Are you sure you want to close the window? 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. 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Pearl River Delta Economic Zone listed as PRDEZ. 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. It also is a major mar­ket for trans­porta­tion and trade-re­lated ser­vices. Company spending on R&D as a share of GDP is greater in Guangdong than anywhere else in the country. 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. Lei Dou, Tingting Li. To install click the Add extension button. 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) 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. Pearl River Delta economic zone: Abbreviation Variation Long Form Variation Pair(Abbreviation/Long Form) Variation No. It has been the most economically dynamic region of the Chinese Mainland since the launch of China's reform program in 1979. As the most dynamic region in the Chinese Mainland, it is increasingly important as a market. 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 … 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. For example, the automobile industryhas a good foundation in the region, with Shanghai and all three surrounding provinces contributing to its success. 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. 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. This set in motion a series of massive infrastructure projects, merging transport, energy, water and telecoms networks, further boosting economic development. Pearl River Delta Economic Zone. 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. GET WEEKLY UPDATES. 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. It also is a major market for transportation and trade-related services. 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 parallel with this development, the region's tertiary sector has expanded too. 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. CHINA ESTABLISHES THE LARGEST MEGACITY IN THE WORLD (2017) -BrosTV. 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. … China and the world Bank described this Zone as the population and affluence of PRD has too! 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