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A blossoming business is predicted (what's new?)
 2007 saw great economic success in Guangdong with a GDP of RMB3 trillion, surpassing Taiwan for the first time. But, in 2008, will the local economy keep a steady and healthy growth? And where do local businesses stand in this competitive market?
Wu Kaili, president of Guangdong General Chamber of Commerce (GGCC), shared his insights and advice with us. Wu expressed great confidence for 2008. The regional GDP has surpassed three of the "Four Dragons in Asia", Korea, Singapore and Taiwan. The increasing flow of
foreign investment into Guangdong will also help set a new high in economy in 2008.
GGCC, a membership based organization founded in 2003, has established cooperation with many local and national corporations, as well as foreign chambers of commerce. This helps create a sound network for foreign investors which attracts not only fortune 500 corporations but also small/medium-scaled foreign businesses into Guangdong.
The inflow of foreign businesses will become a driving force for local businesses in the year ahead, and Wu thinks it is very important for them to be aware of new developments within the industry. To stay competitive in the market, Wu suggests local businesses should "focus on developing technology for further development". Local business entrepreneurs should also not limit their investment to only "traditional sectors" which they are more familiar with, but look into new industries for possible investment.
Whether it is local businesses or foreign investment, 2008 will surely see tremendous economic blossoms in Guangdong and continuous financial growth for the people in the region.
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