Industrial Structure Adjustment and the Development of Enterprises' Export-oriented Economy---An Empirical Study Based on the Economic Development of Guangzhou

Author: Cui Jie
Publisher:
Publish Date: 2007-01-17
Features: Under the backdrop of economic globalization and China's post-WTO transition period, the sustainable development of Guangzhou's export-oriented economy faces new opportunities and challenges. To participate in the fierce market competition brought by economic globalization, it is necessary to adjust the industrial structure of Guangzhou for a new round of adjustments to continue promoting the sustainable development of the city's export-oriented economy. In an open economy, the economic restructuring of a region plays a significant guiding role in the development of export-oriented industries. Through implementing structural adjustment measures such as coordinating the proportion of agriculture, light industry, and heavy industry, and adopting the "three-two-one" industrial strategy, Guangzhou has increased the volume of agricultural exports, enhanced the competitiveness of light industrial products in the international market, improved the trade service level of the tertiary industry, achieved orderly upgrading and transformation of product structures, continuously raised industrial concentration, and experienced leapfrog expansion in industrial organization scale. The development of export-oriented industries significantly promotes regional economic growth, fiscal revenue, and improvements in people's living standards. Foreign trade serves as the "engine" of Guangzhou's economic development. More than 60% of the growth in Guangzhou's gross domestic product relies on the increase in import and export trade. The development of foreign trade has driven rapid growth in the national economy, expanded social employment, and improved the quality of people's lives.
There is a close correlation between the development of export-oriented economies and industrial restructuring. The two are mutually complementary, interactive, mutually influential, and interdependent. To better achieve the development strategy of export-oriented economies, it is essential to have the externalization of industrial structure, which is a fundamental experience for developing countries and regions to develop export-oriented economies under the conditions of economic globalization. Relying on resource endowment structures and technological progress oriented toward the international market, while actively participating in international division of labor and the adjustment of the global industrial structure in accordance with the laws of industrial upgrading and structural change, are necessary conditions for establishing and optimizing export-oriented industrial structures. The selectivity and bidirectional liquidity of economic factors are sufficient conditions for optimizing and adjusting export-oriented industrial structures. The priorities and sequencing of the focus and priority of export-oriented industrial restructuring exhibit distinct characteristics of the times and region. The priority sequencing of Guangzhou's export-oriented industrial structure is to prioritize the new industrialization, thereby promoting and enhancing the level and scale of modern services, and ultimately achieving the sustainable development of Guangzhou's economy.
To leverage strengths, avoid weaknesses, achieve complementary advantages, and dynamically optimize are the fundamental principles for Guangzhou to optimize and adjust its industrial structure, thereby achieving sustainable economic development.