Analysis of Regional Economic and Industrial Impacts of Guangzhou's 2026 RMB 380 Billion Key Project Investment Plan

Based on detailed information obtained through research, I will conduct a systematic assessment of the regional economic and industrial impacts of Guangzhou’s 2026 RMB 380 billion key project investment plan from multiple dimensions.

According to the Government Work Report of the 6th Session of the 16th Guangzhou Municipal People’s Congress[1], in 2026, Guangzhou will strengthen the leading role of effective investment, implement the Industrial Investment Leap Plan, and promote

. This investment scale reflects Guangzhou’s strategic determination to stabilize growth, adjust structure, and promote transformation.

From the perspective of investment structure, Guangzhou has formed an industrial development pattern of “trillion-yuan leadership, hundred-billion-yuan support, and ten-billion-yuan leap”. Over the past five years, the city’s industrial investment has achieved an average annual double-digit growth, forming

, with the added value of strategic emerging industries exceeding RMB 1 trillion, accounting for over 30% of GDP[2].

According to the research on the economic enabling effect of new infrastructure in Guangdong Province,

[3]. Calculated based on this multiplier effect, the RMB 380 billion key project investment is expected to directly drive Guangzhou’s economic growth by approximately . Considering the investment multiplier effect (about 2.2), the comprehensive economic driving effect will be even more pronounced.

From the perspective of regional development pattern, as the core engine of the Guangdong-Hong Kong-Macao Greater Bay Area, this large-scale investment will further strengthen Guangzhou’s role as a regional core. By promoting the construction of the Guangzhou-Shenzhen-Hong Kong-Macao Science and Technology Innovation Corridor and deeply participating in the construction of the high-end electronic information manufacturing industry belt on the east bank of the Pearl River and the advanced equipment manufacturing industry belt on the west bank of the Pearl River, a favorable pattern of radiating and driving the development of surrounding urban agglomerations will be formed[4].

During the 14th Five-Year Plan period, Guangzhou has formed

, including:

Industry Sector	Development Focus
Intelligent Connected New Energy Vehicles	Industrial chain agglomeration driven by leading enterprises such as GAC Aion
Next-Generation Information Technology	Core digital economy industries such as 5G, artificial intelligence, and big data
Biomedical and Health	Innovative drugs, medical devices, and health services
High-End Equipment Manufacturing	Marine equipment, aerospace, and intelligent robots
New Energy and New Materials	Hydrogen energy, photovoltaic, and advanced materials
Modern Urban Consumption	Fashion industry, beauty and daily chemicals, and lighting and audio equipment

The RMB 380 billion investment will focus on these advantageous industries, promoting the transformation of traditional advantageous industries towards high-end, intelligent, and green development. According to the “Plan for Accelerating the Construction of Guangzhou as a Strong Advanced Manufacturing City (2024-2035)”, Guangzhou will

and form several world-class advanced manufacturing clusters[4].

Key project investment will directly create a large number of jobs. From the perspective of the industrial chain, every RMB 100 million in investment can drive approximately

, so the RMB 380 billion investment is expected to create . At the same time, the investment focus on industry, infrastructure, and people’s livelihood fields will effectively enhance the city’s carrying capacity and public service level.

Practical experience from districts such as Liwan District shows that key project investment has a significant driving effect on regional economy. In 2024, Liwan District completed RMB 50.129 billion in fixed asset investment, with growth rates of 49.4% and 68.7% for infrastructure investment and industrial investment respectively. 167 district-level key projects completed RMB 41.01 billion in investment, with an annual investment plan completion rate of 107.7%[5].

The continuous operation of investment projects will generate stable tax sources. According to the experience of Yuexiu District, through the implementation of the working mechanism of “project database + special project team system + whole-process management”, 65 “key breakthrough” projects completed RMB 4.788 billion in investment, which not only drove economic growth but also secured RMB 4.9 billion in funds through multiple channels such as special bonds and ultra-long-term special treasury bonds, effectively supporting regional fiscal sustainability[6].

Key project investment has a significant industrial chain transmission effect:

: Basic raw material and equipment manufacturing industries such as building materials, steel, cement, and engineering machinery will directly benefit.

: Core industries such as advanced manufacturing, intelligent equipment, and electronic information will receive financial support and market space.

: Supporting service industries such as logistics and transportation, commercial and trade services, and financial services will gain opportunities for coordinated development.

Research shows that

[3], which can promote GDP growth of related industries by increasing supporting demand.

Guangzhou has made forward-looking arrangements for future industries, and the transformation of national strategic scientific and technological strength is accelerating. The Guangzhou Laboratory has produced dozens of key results, and 8 drugs and vaccines including the world’s first new anti-influenza A PB2 drug have been approved for marketing. The solid carrier rocket “Lijian-1” was successfully launched, China’s first independently developed ocean drilling ship successfully completed its sea trial, and equipment such as China’s first deep-sea operation robot and submersible were developed and manufactured in Guangzhou[2].

The RMB 380 billion investment will focus on supporting the development of future industries such as

. By establishing a growth mechanism for future industry investment, new economic growth poles will be cultivated.

The investment plan will promote Guangzhou to optimize its urban spatial layout and facilitate industry-city integration:

: Focus on developing modern services, digital economy, and headquarters economy to build high-end business districts.

: Relying on platforms such as Nansha Free Trade Zone, Zengcheng Development Zone, and Huadu International Airport, develop advanced manufacturing and strategic emerging industries.

: Collaborate to build national-level advanced manufacturing clusters such as the Guangzhou-Foshan-Huizhou Ultra-High-Definition Video and Intelligent Home Appliance Cluster, and the Guangzhou-Shenzhen-Foshan-Dongguan Intelligent Equipment Cluster[4].

• Fund Guarantee Risk
  : Need to strengthen coordination between fiscal and financial sectors, and enhance project reserves and factor guarantees
• Overcapacity Risk
  : Need to strengthen overall layout and investment guidance for key industries to prevent low-level redundant construction
• Execution Efficiency Risk
  : Need to simplify investment approval procedures and establish and improve a coordination and promotion mechanism for major cross-departmental and cross-regional projects

1. Optimize Investment Structure
   : Adhere to the orientation of “effective investment” and focus on advanced manufacturing and strategic emerging industries
2. Strengthen Factor Guarantees
   : Make good use of ultra-long-term special treasury bonds and strengthen supporting financing such as ultra-long-term loans
3. Stimulate Private Investment
   : Standardize the implementation of the new government-social capital cooperation mechanism and guide private capital participation
4. Strengthen Project Management
   : Promote the whole-process management of the “Five Batches” project to ensure investment efficiency

Guangzhou’s 2026 RMB 380 billion key project investment plan is an important measure to implement the national “effective investment” policy, which will have far-reaching impacts on regional economy and related industries:

: Directly drive economic growth of approximately RMB 770 billion, create millions of jobs, and enhance the city’s comprehensive competitiveness
: Promote the 6 hundred-billion-yuan advanced manufacturing clusters to move towards the trillion-yuan scale, and cultivate future industries such as low-altitude economy and commercial aerospace
: Strengthen Guangzhou’s role as a core engine in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, and drive the coordinated development of eastern, western, and northern Guangdong
: Accelerate the transformation of scientific and technological achievements, build several world-class advanced manufacturing clusters, and enter the mid-to-high end of the global value chain

Overall, this investment plan reflects Guangzhou’s responsibility as a national central city, and will inject strong impetus into the high-quality development of Guangzhou and even the Guangdong-Hong Kong-Macao Greater Bay Area. It is recommended to continue paying attention to the implementation of investment projects and the evaluation of actual effects.

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[1] Sina Finance - Guangzhou Strives to Achieve Over RMB 380 Billion in Project Investment This Year (https://finance.sina.cn/2026-01-19/detail-inhhvfrx1335071.d.html)

[2] Guangzhou Government Network - Guangzhou’s Outstanding Performance in Building a Modern Industrial System During the 14th Five-Year Plan Period (https://www.gz.gov.cn/xw/xwfbh/content/post_10598150.html)

[3] Shenzhen Academy of Social Sciences - Enabling Effect of New Infrastructure on High-Quality Economic Development in Guangdong (http://www.szass.com/attachment/0/52/52067/826459.pdf)

[4] Securities Times - Guangzhou Releases Plan to Accelerate Construction of a Strong Advanced Manufacturing City (https://www.stcn.com/article/detail/3580387.html)

[5] People’s Government of Liwan District, Guangzhou - Implementation of the 2024 National Economic and Social Development Plan (http://www.lw.gov.cn/zwgkk/zwwgkjggk/ghjh/content/post_10237967.html)

[6] People’s Government of Yuexiu District, Guangzhou - Implementation of the 2024 National Economic and Social Development Plan (http://www.yuexiu.gov.cn/attachment/7/7801/7801336/10225567.pdf)