Finance is the lifeblood of real economy and innovation is the key driving force for the development of manufacturing industry. Since the 18th CPC National Congress, Foshan has been upholding the innovative development approaches by taking the real economic service as the starting point and the foothold and allocating more financial resources to key areas and weak links.

Let’s take a look at how technology promotes steady growth of economy in Foshan.

[Photo/Nie Hongyu]

Walking from the Financial Tunnel at Haiba Road, Nanhai to Guilan North Road, you can see rows of high-rise buildings. This area has become the largest financial backstage industrial park of China-Guangdong Financial High-tech Zone. 

On September 22, 2022, Power TECH CO.,Ltd. was listed on the Growth Enterprise Market of Shenzhen Stock Exchange, becoming a main force that pushes Foshan into a  high-quality developed road.

[Photo/Zhang Site]

On October 11, the World Economic Forum released 11 new factory members of its global lighthouse network, among which the Midea Shunde factory was selected, fostering the digital transformation and upgrading of Chinese manufacturing industry. 

Xianhu Laboratory is one of the provincial laboratories in Guangdong Province built by Foshan. Through the core technology research, Xianhu Lab will build a national strategic scientific and technological force in the field of hydrogen energy and ammonia-hydrogen integration of new energy.

Jihua Lab makes full use of local industrial resources to gather and integrate domestic and foreign innovative resources and serve local economic development, promoting the transformation from “Made in Foshan” to “Intelligent Manufacturing in Foshan".

In recent years, Foshan has sent “timely rain” to enterprises through the establishment of Foshan Manufacturing Transformation and Development Fund and a package of measures, promoting the development of economy and finance by innovation.