Trade inbuy new!As 2025 dawns,many regions have declared a new round of"trade-in"programs.Whether eyeing for new televisions,air conditioners,microwaves or rice cookers,there is a common thread:many of those products are labeled"Made in Guangdong."This should come as no surprise.By November 2024,Guangdong produced over 100 million televisions and 80 million air conditioners,commanding over 50%and 30%of the national market share,respectively.
Amid this,Guangdong's traditional industries are enjoying a renaissance,heading to even loftier heights.In 2017,midea made a major investment in acquiring German robotics leader KUKA,signaling its foray into the robotics and automation domain.The company subsequently acquired Toshiba,WinOne Elevator,and Hiconics.Following these acquisitions,through seamless business integration,Midea has transitioned into a tech behemoth.On September 17,2024,Midea Group listed H-shares on the Hong Kong Stock Exchange,raising a net sum of HKD30.67 billion,setting a three-year record for Hong Kong IPOs.
This funding will further accelerate Midea's"digital intelligence"initiatives.In Midea's five"lighthouse factories,"component baskets ride"roller coasters,"AGV trolleys"dribble"materials,andKUKA robotic arms in vibrant orange"thread the needle with precision."These facilitators combined,led to a 24%drop in unit production costs,a 41%slash in delivery times,a 30%cut in R&D cycles,and a 51%decrease in defect rates.In the first three quarters of 2024,Midea's new energy and industrial tech,smart building tech,and robotics and automation segments have achieved a total revenue of 68.6 billion yuan,with these"growth engines"contributing over 20%to total revenue.
Midea's relentless pursuit of innovation mirrors the makeover of Guangdong's traditional industries.The legacy of"Pearl River waters,Guangdong grain,Lingnan attire,Guangdong electronics"is being engraved.Today,enterprises show high enthusiasm toward digital transformation,proving that"the seasoned still shine"with remarkable achievements.Traditional industries are embracing the new while respecting the old,firmly underpinning Guangdong's economic stability.
Amid"Pear River waters,"Jianlibao's Foshan Sanshui plant has revolutionized itself with 8 fully automated lines,cranking out up to 2,000 cans per minute.Through"Guangdong grain,"players like Evergreen and Wens,with 6000 pre-made dish firms are carving out a niche in the trillion-yuan market,realizing end-to-end smart agriculture from farm to table,covering industrial nodes from cultivating,breeding,and manufacturing to transportation."Lingnan attire",Shein in Guangzhou is rewriting the fashion industry,with its agile"small batch,quick response"supply chain.In terms of“Guangdong electronics,”Midea’s"neighbors"along the G105 National Highway,the"Golden Corridor of Chinese Home Appliances,"are distributing Guangdong-made appliances nationwide and beyond.
This reinvigoration of traditional industries,is a testament to Guangdong entrepreneurs'proactive stance on change,and the government's robust support.In recent years,the Guangdong government has launched tailored policies,for diverse sectors.These initiatives have spurred a"chain-style transformation,"with key players in industrial chains and industrial clusters,leading enterprises in a collective push toward digital transformation.
In the first three quarters of 2024,the government's sector-specific policies,coupled with various incentives,have propelled over 8,500 industrial enterprises toward technological upgrades,with industrial tech investment growing at double digits for 21 consecutive months,and industrial equipment renewal investment is seeing its fastest growth in a decade.
Robotics,flexible manufacturing,smart factories…these once"cyberpunk"fantasies are now the reality for traditional enterprises.By integrating"digital engines,"Guangdong's traditional industries are attracting both attention and capital.The story about the transformation of Guangdong’s traditional industries is an epitome of the change of China’s economic development model.As China stands at a crossroads of growth drivers transformation in 2025,technological innovation serves as the“fuel”for progress.By embracing the“digital intelligence wave”,traditional industries maintain their central position,proving that experience combined with innovation creates enduring strength.
