The value added of industrial enterprises above designated size in Guangdong reached 2.90 trillion yuan ($398.5 billion) over the first three quarters this year, with a growth rate of 3.4% year on year, according to a news conference on the province's economy in the third quarter the Guangdong Provincial Department of Industry and Information Technology held on Oct. 28.

The department's statistics indicate that industrial investment increased by 15.6% year on year over the first three quarters of this year. Meanwhile, the proportion of advanced and high-tech manufacturing in the overall industrial structure of the province continued to rise.

The department observes that, apart from that, a series of data show that the growth of Guangdong's real economy has gradually picked up, overcoming multiple challenges.

In the first three quarters of this year, the province's industrial economy maintained steady growth, with major industrial indicators operating within a reasonable range, industrial production and investment showing a trend of recovery, the industrial structure improving, the digital transformation of the manufacturing sector accelerating, and new driving forces spurring new vitality.

Multiple trillion strategic industrial clusters give full play to their advantages in scale and promote industrial upgrading to seize new tracks and new areas. Experts believe Guangdong is passing through the bottleneck of transformation, upgrading the economy, and realizing leapfrog development to high-end intelligent manufacturing.

The department says that Guangdong will take more effective measures to implement the central authorities' policies to stabilize the economy and promote the steady rise of the industrial economy.