Advertisement

Pearl River hi-tech push called inconceived

Reading Time:2 minutes
Why you can trust SCMP
0

The Pearl River Delta's push into the high-technology sector is ill-conceived, a mainland economist told a conference on the region's development on Tuesday.

Guangdong would fare better by building on its strength in export-oriented manufacturing, argued Wang Zhile, director of the foreign trade ministry's Research Centre on Transnational Corporations.

Mr Wang offered a rare dose of pragmatism at a time when even third and fourth-tier mainland cities are pouring funds into hi-tech parks.

He was responding to vice-mayors of Shenzhen and Zhuhai, who outlined their cities' hi-tech visions on the first day of the Pearl River Delta Conference.

Shenzhen is spending more than 100 billion yuan (about HK$93.7 billion) in the next five years to expand its hi-tech industry zone.

'I felt the mayors' speeches were at times not very pragmatic. It may not be that practical for everyone to jump on the hi-tech boat,' he said.

With China's World Trade Organisation accession last December opening up more sectors and further lowering tariffs, multinational companies increasingly see the country as a low-cost production centre for markets elsewhere.

Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x