"Dongguan Made" Has Risen To A New Height Through The Power Of Capital

"Digitalized" Dongguan Dongguan is located on the east coast of the Pearl River Estuary, north to Guangzhou and south to Shenzhen.

In the past 30 years of reform and opening up, Dongguan has created another "digital miracle" that attracts the world's attention.

GDP: Dongguan's GDP has grown rapidly since the reform and opening up. It was 662 million 330 thousand yuan in 1979, 262 billion 650 million 850 thousand yuan in 2006, an increase of about 400 times in 27 years, and an average annual growth rate of 24.8%.

In 2007, Dongguan GDP is expected to break 300 billion yuan, surpassing the economic power of some provinces in the mainland, and it can be described as "rich and enemy". In the ranking of China's economic cities, it ranks eighth, ranking the highest in the cities of Nanjing, Chongqing, Shenyang and Wuhan in the traditional strong economic cities. In the competition of cities in the whole country, Guangdong's "urban cluster" is leading in 2007, while Dongguan in Guangdong province has the highest growth rate.

The capital of IT: "no matter where you place your order, it will be made in Dongguan", which has become the buzzword in the IT industry.

Li Zufan, deputy general manager of IBM Greater China, once said, "70% of the world's electrical providers will be affected by the cut off of expressways from Dongguan to Shenzhen."

Dongguan is the largest computer parts manufacturing base in the world, and 95% of its spare parts are produced in Dongguan.

In 2006, Dongguan's electronic information manufacturing industry output value was 219 billion 419 million yuan, an increase of 21.5%.

International IT community generally acknowledged, "as long as a car in Dongguan, the world's computer market is cold."

Because of the computer main board, magnetic head, drive production, accounting for more than 75% of the world.

The world market share of all kinds of IT products produced in Dongguan is as follows: computer magnetic heads, computer chassis and semi finished products are about 40%, copper coated and computer drivers account for 35%, advanced AC capacitors and line output pformers are about 30%, computer scanners, mini motors are about 20%, computer keyboards and computer motherboards are about 15%.

Shoe industry: Dongguan is one of the four largest footwear bases in China. The city has more than 1300 shoe making enterprises, with an annual output of over 1 billion pairs of shoes and over 500 million pairs of exports. One of the ten pairs of shoes in the world belongs to "Dongguan made".

Clothing capital: Dongguan has the largest textile printing and dyeing plant in Asia. There are more than 4000 textile and garment processing enterprises, with 3 billion 600 million garments each year.

In particular, the town of Humen has more than 4000 brands of clothing and more than 20 famous brands. It has established a wholesale market system with the lead of the first fashion wholesale shopping mall in China. Every year, China (Humen) International Fashion Fair is held together with Dalian Fashion Festival. It is the representative of the Southern School of Chinese clothing with "North has Dalian and South has Humen".

Toy capital: at present, China has more than 8000 toy enterprises, toy exports account for 75% of the global market, half of which come from more than 4000 toy manufacturers in Dongguan.

Hongkong exports nearly 100 billion HK dollars of toys every year, and more than 70% are made by Dongguan. Dongguan has become the largest toy manufacturing city in the world.

China's economy has entered the late stage of industrialization, and capitalization has become an endogenous demand of the real economy.

Especially in the Pearl River Delta, which is at the forefront of economic development, it has become the consensus of local governments at all levels by promoting the listing of local leading enterprises, making use of capital markets to optimize regional economies, promoting investment and accelerating industrial upgrading.

Dongguan is located in the Pearl River Delta region, and is the leader of China's reform and opening up.

The average growth rate of GDP in Dongguan has reached 19.8% in recent three years, and its comprehensive strength has ranked twelfth in China's large and medium cities for two consecutive years.

However, after 30 years of development, Dongguan is facing "growing pains", such as industrial upgrading and resource scarcity.

Among them, the utilization degree of Dongguan's capital market is lagging behind, which is also an important manifestation of "growing pains".

By the end of 2007, the securitization rate of Dongguan was less than 15%, which was far from the national level of more than 100%.

Over the past two years, Dongguan has been promoting the listing of enterprises as an important work with unprecedented strength, and has issued a series of policies and preferential measures.

It is understood that this work will be effective in 2008.

With regard to the progress of Dongguan's listing and financing, Shanghai Securities Daily gave an exclusive interview with Leng Xiaoming, executive vice mayor of Dongguan.

Seize the opportunity to realize "dual pformation" reporter: now there is such a view: if we can not keep pace with the new round of industrial upgrading, the PRD will face the danger of "Marginalization" in the future.

As a typical representative of the Pearl River Delta, what are the bottlenecks of Dongguan's current economic development?

How will Dongguan break through?

Leng Xiaoming: after many years of rapid development, Dongguan has indeed entered a temporary dilemma: first, "double marginalization" and "two dilemmas".

One of the "double marginalization" refers to the fact that most enterprises do not have independent technology and private brands, which are marginalized in the division of labor in the domestic industry. The other refers to the fact that in the whole international division of labor, because of being at the bottom of the manufacturing industry, that is, processing and assembling is also marginalized in the international division of labor.

Two more "dilemmas".

A "dilemma" is that it is impossible to develop the processing trade through the consumption of resources and promote economic and social development in the past. It is impossible for resources, environment, social capacity and the cost bearing capacity of processing trade to be near the limit. Another "dilemma" is that enterprises continue to engage in processing trade in Dongguan, which will face more and more cost pressures and become more and more difficult to survive.

However, we should also see that Dongguan is faced with this predicament in the Pearl River Delta, which means that Dongguan will take the lead in solving the problems that must be faced in the late industrialization.

Only by solving these problems step by step can our society step into a new stage of development.

Therefore, in another way of thinking, we actually face more opportunities.

The next 5 to 8 years will be the "window of opportunity" for Dongguan's economic and social pformation. During this period, we will promote the pformation and upgrading of the existing processing trade enterprises, so as to complete the adjustment and upgrading of the industrial structure, and then realize the pformation of Dongguan's economy and society.

Dongguan's success today is due to its unique location advantages and favorable environment for manufacturing development. At present, the two factors have not changed. Therefore, we have full confidence in realizing the "dual pformation" of the economy and society.

To build a new "Dongguan plate" reporter: in the late industrialization stage, "capitalization" has become an endogenous demand of the real economy. Utilizing the resource allocation effect of the capital market, it is a good way to promote the local advantageous industries and achieve industrial upgrading.

May I ask what kind of knowledge and train of thought Dongguan has in this regard?

Leng Xiaoming: Dongguan has advantaged manufacturing advantages: there are five major airports around Hong Kong, Macao, Guangzhou and Shenzhen, as well as three big container terminals, Yantian, Kui Chong and Nansha. Besides, Beijing and Guangzhou, Beijing and Kowloon two railway arteries run through the Pearl River Delta.

The logistics advantage that is hard to find in the world is the foundation of Dongguan's brilliant today.

With this advantage, Dongguan will have the confidence to continue to maintain the leading edge of manufacturing industry upgrading in the future.

Dongguan's overall plan for industrial upgrading is: to make compulsory manufacturing, and to promote the scale, upgrading, informationization and moderate heavy-duty of the manufacturing industry.

In terms of regional planning, Dongguan will speed up the development and construction of Songshan Lake, Humen port, Eastern Industrial Park and Eastern expressway.

In industrial planning, we will strive to introduce hi-tech industries, leading enterprises and R & D enterprises, and strive to add 38% of the value added to high-tech industries.

The eight pillar industries such as electronic information and electrical machinery should be supported.

We should expand the service industry, vigorously develop modern business, logistics, convention and exhibition, tourism and other industries, as well as legal, design, intermediary, accounting, consulting and other professional services, promote financial innovation and resource integration, and build a strong financial market.

At the same time, we should make excellent agriculture, actively develop modern urban agriculture, and strive to realize industrial specialization, production standardization and facilities modernization. In 2010, the city will build more than 100 thousand acres of standardized farmland.

In addition, Dongguan will also vigorously strengthen its independent innovation.

Taking government input as the guide, enterprise investment as the main body and policy support as the guarantee, efforts should be made to build a scientific and technological investment and financing mechanism.

Relying on Songshan Lake, specialized towns and industrial clusters, we will build a number of public technology platforms and industrial technology platforms.

With the protection of intellectual property rights and the integration of industry, education and research, enterprises are encouraged to develop independent technologies and create their own brands.

More importantly, we should make full use of the capital market, through the implementation of the strategy of cultivating large enterprises, and select a large number of leading private enterprises with large scale and advanced management. Through the ways of listing, mergers and acquisitions, and restructuring, we will optimize the allocation of resources, enhance our competitive edge, and continue to grow bigger and stronger.

In addition, in light of the current economic development and industrial characteristics, Dongguan will give full play to the positive role of various chambers of Commerce and industry associations, and promote the listing of leading enterprises in various industries to form a demonstration effect, to create Taiwan capital plates with Dongguan characteristics, Hong Kong capital plates or clothing plates, furniture plates, and electronic plates.

In the field of commercial chain, many enterprises in Dongguan have entered the listing process.

New policy to stimulate the desire to go public reporter: compared with the Jiangsu and Zhejiang provinces with similar economic development level, Dongguan used to be backward in the use of capital market.

In recent two years, Dongguan has done a lot of work in promoting the listing of enterprises, and has made great progress.

What is the current situation of Dongguan's nurturing of listed companies?

How many enterprises have met the requirements?

How many companies will enter the listing process in 2008?

Leng Xiaoming: Overall, the capital market development in our city is seriously lagging behind, and the proportion of direct financing is low.

By the end of 2006, our city had only three Dongguan share holding companies, including 8.90,0.25,2.89% holding company (Yue Hongyuan), Sheng Yi Technology (8.84, -0.24, -2.64%, bar), and A, with a total market value of 5.06% of our city's GDP, far behind the national average of 56.9%.

Since 2006, Dongguan has had a brand-new understanding of the use of capital market, and has promulgated a series of policies and measures.

At present, preliminary results have been achieved.

In May 2007, ST Po moved its registered place from Sichuan to Daling mountain town and became the fourth A share listed company in Dongguan.

In August 2007, Fangda group of Changan town achieved the 41.09% stake in S*ST source medicine by auction, and became the largest controlling shareholder at 718 thousand and 800 yuan.

According to incomplete statistics, at present, there are 56 enterprises that have expressed clear desire for listing in government departments in Dongguan. Among them, 14 have entered the counselling period, ranking third in prefecture level and above cities, second only to Guangzhou and Foshan.

Preliminary estimates, in 2008, 6 to 8 enterprises in our city will submit the listing materials to the CSRC.

Reporter: what are the advantages and favorable factors in the process of promoting the listing of enterprises in Dongguan?

What are the main difficulties and breakthroughs?

What are the measures to promote the listing of enterprises in Dongguan now?

Leng Xiaoming: Dongguan's private economy and manufacturing industry are very developed.

By the end of 2007, the number of private units in the city had reached 447 thousand and 800, registered capital amounted to 82 billion 591 million yuan, the total amount of tax paid was 18 billion 261 million yuan, and the added value of the private economy amounted to 100 billion 603 million yuan, accounting for 31.9% of the city's gross domestic product.

Moreover, the private economy in Dongguan is basically concentrated on export-oriented manufacturing, and occupies an important position in the global manufacturing chain.

These are excellent listed reserve resources.

In March 2007, the Dongguan municipal government promulgated the interim measures to encourage the listing of scientific and technological enterprises in Dongguan, and encouraged other enterprises to implement them.

The interim measures promulgated a series of preferential measures to promote enterprises to enter the capital market, specifically stipulate the conditions, scope and standards of the listed companies' recognition and funding, the applications for funding and audit procedures, etc., and give support to enterprises in various links such as finance, taxation, land and planning after being listed, listed and listed.

At the same time, Dongguan also encourages enterprises to "buy shell" and "backdoor" to go public.

The enterprises' purchase of shell and backdoor listing in other places and the relocation of the listed companies to Dongguan will be regarded as a restructuring and listing, enjoying the same preferential policies and incentives.

Journalists actively developing intermediary service industry: developed intermediaries can not only help enterprises integrate smoothly with capital markets, reduce risks and reduce costs, but also as a major component of high-end service industry, intermediary structure is also a new economic growth point.

What is the train of thought and plan for Dongguan to develop modern financial services, optimize the financial environment and promote financial innovation?

Leng Xiaoming: at present, Dongguan has Dongguan City Commercial Bank, Dongguan securities, Dongguan trust and other financial institutions. As a prefecture level city, Dongguan's local financial institutions have complete functions, excellent asset quality and good management.

Dongguan will give full play to the positive actions of these local financial institutions in promoting the development of the capital market.