In the first half of this year, the export situation of the Pearl River Delta has turned sharply, and the plight of export-oriented enterprises has become the focus of attention. A few days ago, the researcher of the Bank of China (Hong Kong) Co., Ltd., Economic Researcher, said that the research report entitled "Difficulties and Countermeasures in the Processing Trade of the Pearl River Delta" pointed out that the continuous rise in production costs has squeezed the profit margin of Hong Kong-funded enterprises. The operation of the enterprise is unsustainable. To this end, the Pearl River Delta enterprises on the one hand to strengthen product development and brand development, on the other hand, they are ready to move to lower-cost regions, the latter is more feasible for a large number of small and medium-sized enterprises, and local governments also take measures to support Moved to the factory.
However, what is gratifying is that the factory migration boom derived from the new round of industrial transfer is the same as that of the Hong Kong businessmen investing in the Pearl River Delta in the 1980s, that is, the roots have not been removed from Hong Kong. Hong Kong will continue to be the headquarters and service center of the export-oriented processing enterprise group. In particular, the functions of the financial services industry and entrepot trade will not be lost, but the scope of radiation will be expanded. The regional advantages of the Pearl River Delta are still recognized by Hong Kong businessmen.
Recently, the industrial restructuring and upgrading of the Pearl River Delta region has aroused widespread concern from the governments of Guangdong and Hong Kong and the community. In particular, some export-oriented enterprises invested by Hong Kong companies face a change in internal and external environment and adjustment of national policies, and operating costs have risen sharply. There are big difficulties. These companies are considering various measures including upgrading technology, creating brands, restructuring mergers, relocating factories, and even stopping business. In addition to the far-reaching impact on the economic development of the Pearl River Delta region, this change will also bring about new integrations in the economic cooperation model between Guangdong and Hong Kong.
Pearl River Delta export growth slows down
In the first half of this year, Guangdong Province completed a total production value of 10.7%. Although it fell by 3.6 percentage points year-on-year, it was higher than the national GDP growth rate of 10.4%, which was better than some provinces and cities in the Yangtze River Delta. However, there are some issues worthy of attention in Guangdong's economic growth. First, industrial production has experienced large landslides, and economic benefits have dropped significantly. The added value of industrial enterprises above designated size (annual sales of more than 5 million yuan) fell by 4.7 percentage points. In addition to the steady growth of the electronic information industry and high-tech manufacturing industry in the nine major industries, other industries have slowed down. In the first five months, the profits of industrial enterprises above designated size increased by only 4.3%, which was 44.8 percentage points lower than that of the same period of last year. A few industries suffered losses. Secondly, the growth rate of exports declined month by month, and the performance was worse than that of some provinces and cities in the Yangtze River Delta. In the first half of the year, Guangdong's total exports increased by 12.9%, an increase of 13.5 percentage points year-on-year, far behind the country's 21.9% export growth, 9.7, 8.3 and 13.6 percentage points lower than Shanghai, Jiangsu and Zhejiang in the Yangtze River Delta. The proportion of Guangdong's total exports to the whole country has dropped from 31.8% in 2006 to 30.3% in 2007 to 28% in the first half of this year.
Guangdong Province is one of the most important export bases in the Mainland. The Pearl River Delta region has concentrated most of the export processing enterprises in the Mainland (mainly foreign-funded and Taiwan-Hong Kong-Australian-owned enterprises). In 2006, the total export volume accounted for more than 95.6% of the province. It accounts for 29.8% of the country and is known as the world factory.
In the first half of this year, exports in the Pearl River Delta region were seriously declining. The export growth of Guangzhou, Shenzhen, Dongguan and Foshan dropped by 8.1, 21.6, 2.4 and 20.1 percentage points respectively. In June, exports from Shenzhen and Foshan fell by 2.6% and 3.6% respectively, which is rare in recent years. In the first half of the year, Shenzhen's export growth rankings were lagging behind in the coastal export bases in the Mainland, while the growth rate in the same period last year was 31.3%, ahead of other regions, contributing more than 50% to Guangdong's export growth.
On the other hand, the export growth rate of major export products of export processing enterprises is obvious. For example, clothing exports in Guangdong Province decreased by 31.3% year-on-year, plastic products shrank by 4.5%, and exports of toys, lamps and luggage decreased by 25.4, 14.2 and 12.6 percentage points respectively. In terms of business types, exports of foreign-funded enterprises increased by 15% in the first half of the year, compared with 24.4% in the same period last year. In view of the important position of the Pearl River Delta in the Mainland, its current export situation is grim, and it is indeed a rather serious problem.
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