STORY: China's Guangdong takes lead in new reforms
SHOOTING TIME: Recent footage
DATELINE: July 25, 2024
LENGTH: 00:01:58
LOCATION: GUANGZHOU, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of Guangdong
2. various of enterprises in Guangdong
3. SOUNDBITE 1 (Chinese): LIU YINGJIE, Head of the Science and Technology Innovation Bureau of Pingshan District, Shenzhen, Guangdong Province
4. SOUNDBITE 2 (Chinese): ZHAO MING, CEO of Honor Device Co., Ltd.

STORYLINE:

South China's Guangdong Province, which boasts thriving cities like Shenzhen and Guangzhou, has evolved into a global economic and technological powerhouse since it first served as a testbed for China's groundbreaking reform and opening-up initiative in 1978.

As the country pushes for deeper, comprehensive reforms, Guangdong again leads the charge, pioneering measures that solidify its status as a beacon of innovation, openness and creativity.

On July 16, an innovative demonstration in Shenzhen's Pingshan captured the public's imagination.

Liu Yingjie, who oversees the sci-tech innovation bureau of Pingshan, has pledged to continuously strengthen its efforts to provide institutional and infrastructure support for enterprises' innovation capability.

SOUNDBITE 1 (Chinese): LIU YINGJIE, Head of the Science and Technology Innovation Bureau of Pingshan District, Shenzhen, Guangdong Province
"On the one hand, we will introduce specific policies to encourage enterprises in Pingshan District to collaborate with universities and research institutions, thereby further promoting the enterprise-led deep collaboration of industries, universities and research institutes. On the other hand, we will explore the establishment of a district-level technological innovation incentive mechanism to support enterprises in taking the lead or participating in achieving scientific and technological breakthroughs. At the same time, we will set up funds with patient capital to bolster the development and growth of small and medium-sized sci-tech enterprises."

According to Liu, enterprises' R&D investment accounts for over 98 percent of the total social R&D investment in Pingshan.

Guangdong is also striving to foster new industries with its vibrant innovation ecosystem. The province is home to over 75,000 high-tech enterprises, including world-class companies such as EV manufacturer BYD, drone pioneer DJI, and smart device provider Honor.

SOUNDBITE 2 (Chinese): ZHAO MING, CEO of Honor Device Co., Ltd.
"Innovation-oriented development aims to integrate China's industrial chain with global innovations to further improve our products. This not only meets consumer demands nowadays, but also their potential needs for the future."

Xinhua News Agency correspondents reporting from Guangzhou, China.
(XHTV)