Liu Sheng and Chen Xiuying: Empowering the Development of New Quality Productive Forces in the Guangdong-Hong Kong-Macao Greater Bay Area [1] through Digital Transformation
Empowering the Development of New Quality Productive Forces in the Guangdong-Hong Kong-Macao Greater Bay Area Through Digital Transformation
The Third Plenary Session of the 20th CPC Central Committee proposed to "improve the institutions and mechanisms for developing new quality productive forces according to local conditions" and "improve the systems for promoting the deep integration of the real economy and the digital economy." As the core driving force for promoting high-quality development, digital transformation is gradually becoming the key path for developing new quality productive forces in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Under the dual tides of globalization and informatization, the GBA—as one of China's most dynamic and potential-rich regions—must answer the "proposition of the times" [1] of how to empower the development of new quality productive forces through digital transformation as it moves toward high-quality development.
I. Achievements: Significant Results in Digital Transformation and the Initial Scaling of New Quality Productive Forces
In recent years, the GBA has achieved remarkable success in digital transformation and the development of new quality productive forces. In particular, it leads the nation across multiple dimensions, including the construction of digital infrastructure, the cultivation of digital industries, the digital transformation of traditional industries, the promotion of digital transactions, and the establishment of digital governance systems. These efforts have provided a powerful source of momentum for the emergence and growth of new types of productive forces.
In terms of digital economy development: The China Digital Economy Development Index Report (2024) shows that in 2023, the scale of Guangdong Province's digital economy climbed to 6.9 trillion yuan, maintaining its top position in the country for eight consecutive years. Within this outstanding achievement, Shenzhen, as a leader in core digital economy industries, saw its added value exceed the 1 trillion yuan mark; Guangzhou followed closely at approximately 394.6 billion yuan; and the digital economies of Dongguan and Foshan both surpassed the 100-billion-yuan level. This series of data fully demonstrates the deep foundations and immense potential of the GBA cities in the digital realm, laying a solid industrial chain foundation for the flourishing of emerging economic forms and new quality productive forces.
In terms of digital industrialization: Guangdong has become the largest industrial cluster for intelligent robotics in China, with various intelligent robots moving from Guangdong factories into broad domestic and overseas markets. Furthermore, Guangdong has achieved significant breakthroughs in cutting-edge technical fields such as 5G, Artificial Intelligence (AI), big data, blockchain, and cloud computing. Its strong capacity for translating technological applications has effectively driven the rapid development of the digital economy.
In terms of industrial digitalization: By the end of 2023, Guangdong Province had successfully promoted the digital transformation of 29,000 industrial enterprises above designated size [2]. The scale of its industrial internet added value ranks first in the country, facilitating over 650,000 small and medium-sized enterprises (SMEs) in accessing cloud services. For example, over 30 ceramic enterprises in Foshan jointly founded the "Zhongtaolian" platform. By utilizing transaction data from the ceramics industry, the platform provides credit certification for enterprises, effectively reducing transaction costs for upstream and downstream firms. Simultaneously, within the service sector, the GBA is actively advancing digital transformation. For instance, the online exhibition platform launched by the Guangdong International Trade Digital Gallery provides services such as "cloud exhibition, online negotiation, remote matchmaking, and electronic signing," continuously enhancing the efficiency of cross-border trade services.
In terms of digital governance: Through the implementation of the Three-Year Action Plan for the Construction of the "Digital Bay Area," the GBA has promoted the effective alignment of rules and mechanisms among the three regions [3] and the efficient interconnection of new infrastructure, facilitating the deep integration of economic development, public services, and social governance. Additionally, Guangdong Province has released a series of documents, such as the Guangdong Provincial Digital Economy Promotion Regulations and the Guangdong Provincial Digital Economy Development Guidelines 1.0, gradually exploring localized development models and evolutionary paths with high applicability and distinctive characteristics.
II. Challenges: Obvious Regional Disparities and Insufficient Digital Innovation Capacity
Despite the significant achievements in digital transformation, the GBA still faces a number of challenges.
First, regional disparities in digital infrastructure are evident. Although the overall level of digital infrastructure in the GBA is high, large gaps exist between different cities. Comparatively, Hong Kong, Shenzhen, and Guangzhou have higher levels of digital economic development, while regions such as Zhaoqing and Jiangmen lag behind. This problem of unbalanced regional development constrains the overall progress of digital transformation in the GBA to a certain extent.
Second, digital innovation capacity is insufficient. While the GBA has made progress in digital technological innovation, a gap remains compared to leading global levels. Particularly in core technological fields such as high-end chips, operating systems, and key AI algorithms, and in the face of technological blockades and trade protectionism from developed economies, the GBA still faces significant challenges in the "high-tech, precision, and top-tier" [4] sectors and at both ends of the "smile curve" [5] in the short term.
Third, digital supervision is inadequate. With the rapid development of the digital economy, the GBA's digital supervision and governance systems face new challenges. Issues such as how to drive the cross-border flow of data factors, balance the relationship between personal privacy and data security, maintain the order of the data factor market, and protect consumer rights urgently need to be addressed. Currently, deficiencies remain in the GBA's digital supervision, requiring further institutional building and improvement of regulatory mechanisms.
Fourth, digital transformation for SMEs is difficult. Despite the notable results in promoting industrial digitalization, SMEs still face significant hurdles in transformation due to constraints in capital, technology, and talent. Given this, helping SMEs overcome these obstacles has become a top priority.
III. Levers: Taking Multiple Measures Simultaneously to Promote the Deep Integration of Digital Transformation and New Quality Productive Forces
Empowering the development of the GBA's new quality productive forces through digital transformation is a systemic project. In response to existing challenges, the government, enterprises, universities, and research institutions must implement precise policies and deepen cooperation to better promote the integrated development of the digital economy and new quality productive forces.
First, strengthen digital infrastructure construction. Investment should be increased and its structure optimized to improve digital infrastructure. Regional assistance mechanisms such as the "Hundred-Thousand-Ten Thousand Project" [6] should be utilized to gradually narrow the gap in regional digital economy development. Furthermore, digital interconnectivity between Guangdong, Hong Kong, and Macao should be strengthened to promote the free flow and innovative combination of data factors. Simultaneously, the expansion of application scenarios for digital technology should be accelerated to provide robust support for digital economic development.
Second, enhance digital innovation capacity. There is an urgent need to strengthen digital technology research and development, focusing on breakthroughs in core technological fields like high-end chips, operating systems, and key AI algorithms. Enterprises should be encouraged to increase R&D investment and strengthen cooperation with universities and research institutions to promote the deep integration of "government, industry, academia, research, and application." Additionally, digital talent should be actively introduced and cultivated to provide a human resource guarantee for digital economic development.
Third, improve digital supervision and governance mechanisms. Institutional building for digital supervision must be strengthened, perfecting the rules for data collection, processing, storage, and usage, and exploring practices for the cross-border flow of data in the GBA. Coordination across departments and regions should be enhanced to form a synergy for cross-domain digital supervision. Furthermore, consumer rights protection must be bolstered, and illegal acts such as data abuse and infringement of user privacy should be severely cracked down upon.
Fourth, promote digital transformation for SMEs. Support for SMEs should be intensified through policy guidance, technical training, and financial assistance to help them overcome obstacles to digital transformation. Large or leading enterprises should be encouraged to play a demonstrative and leading role, driving the development of SMEs. Additionally, the supply of digital services should be enhanced, providing SMEs with efficient and precise digital solutions and consulting services.
Author Profiles: Liu Sheng, Yunshan Scholar and Doctoral Supervisor at the Institute of the Guangdong-Hong Kong-Macao Greater Bay Area, Guangdong University of Foreign Studies; Chen Xiuying, Associate Professor at Guangdong University of Finance.
Source: China Theory Network (China Lilun Wang) Web Editor: Huihui