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GDGHC: The Progressive Journey from a Foreign Trade Pioneer to a Fortune Global 500 Enterprise
Building a World-class Enterprise through Industrial, Structural and Global Layouts
Industrial Layout: Starting from Scratch and Seizing the Initiative
Walking through the exhibition hall of GDGHC, the glorious past of Guangdong's foreign trade is vividly presented, showing the striving journey of this 'industrial edifice'.
Going back to the year 2000, a pivotal moment at the turn of the century with a volatile world landscape, China was on the verge of joining the WTO. In September 2000, the predecessor of GDGHC - Guangdong Foreign Trade Group Co., Ltd., formed by 23 major provincial-level professional foreign trade companies, came into being. This meant that the large state-owned enterprise would shoulder the mission of helping Guangdong stride onto the world economic and trade stage at a faster pace.
However, at that time, GDGHC had neither large-scale industrial operations nor core key technologies. Faced with the growing pains of 'congenital deficiencies', how could GDGHC seek the 'optimal solution' for development? A change of mindset is the key to turning crises into opportunities. Especially after the financial crisis, a blueprint for industrial strategic layout was taking shape. GDGHC resolutely carried out a series of mergers, acquisitions and restructuring, and obtained controlling stakes in two domestic listed companies and one overseas listed company at a relatively low cost in one fell swoop.
In 2020, Guangdong Province issued the 'Opinions on Cultivating and Developing Strategic Pillar Industrial Clusters and Strategic Emerging Industrial Clusters'. Positioning itself as 'the national strategic emerging industry leader in the Guangdong-Hong Kong-Macao Greater Bay Area', GDGHC accelerated the construction of a modern industrial system supported by the real economy, launched and implemented the 'Thousands-Hundreds-Tens' industrial development strategy, and promoted the building of '100-billion-level' industrial clusters, '10-billion-level' leading enterprises with high industrial influence and competitiveness, and a number of '1-billion-level' specialized, sophisticated, distinctive and innovative enterprises.
At present, GDGHC has defined the development pattern of 'One Core with Two Wings' and built the '3+2' business segments:
▶ One Core with Two Wings: Highlighting the core of 'prioritizing manufacturing development', and accelerating the upgrading of two capabilities - 'industrial investment' and 'modern services';
▶ 3+2 Business Segments: The '3' refers to three major industries including new energy & new materials, biotechnology & food, digital services & supply chain services; the '2' refers to two key supports including financial investment and comprehensive sharing services.
Step by step, GDGHC has explored a development path of establishing the enterprise through solid industrial operations.
Structural Layout: Activating the Vitality of Development through Mixed-Ownership Reform
High-quality development is inseparable from structural transformation and upgrading. GDGHC has courageously taken the lead in the structural transformation and upgrading of state-owned enterprises in Guangdong, blazing a new path for the modernization and transformation of state-owned enterprises.
In July 2019, the provincial government approved GDGHC to carry out the pilot reform of a state-owned capital investment company. In December 2019, GDGHC merged with Guangdong Silk & Textile Group Co., Ltd., marking the entry of GDGHC into a new period of rapid development.
GDGHC has innovated its development model, introduced social capital, and explored a successful path for the effective integration of state-owned and private enterprises. Focusing on promoting reform through mixed ownership, GDGHC has paid close attention to 'mixed capital' and 'mechanism reform', made good use of the three advantages of state-owned enterprises: Party building, resource advantages and risk management capabilities, as well as the three strengths of private enterprises: market insight, cost control and high efficiency & profitability. It has strived to build a mixed-ownership reform model of 'advantage superposition', truly fostering new mechanisms and stimulating new vitality through the reform, and achieving mutual benefit and win-win results with shareholders of mixed-ownership enterprises.
• The proportion of mixed-ownership reform of affiliated enterprises has reached 74%, making mixed ownership a core characteristic and advantage;
• Completed the layout of the entire stainless steel industrial chain, filling the gap in the production of high-end stainless steel industry in Guangdong;
• Accomplished the '1158' strategic goals of the 14th Five-Year Plan three years ahead of schedule, doubling operating performance in three years, and achieving high-quality catch-up from 'following' to 'keeping pace'.
Today, GDGHC has gradually developed into a state-owned capital investment company with strong resource integration capabilities and value creation capabilities, constantly bursting with vigorous vitality.
Global Layout: From a Provincial Pacemaker to the World Stage
Responding to the changes of the world, the times and history, promoting high-quality economic development through high-level opening up is a major proposition at present.
Since the restructuring, GDGHC has accelerated its pace of fulfilling the mission of a 'national team', adhered to the philosophy of 'viewing GDGHC beyond itself, based on the Greater Bay Area and standing on a global perspective', and adopted a more proactive attitude in deeply participating in the process of globalization.
1. Building a Matrix of World-Influential 'Chain Leaders' and 'Hidden Champions':
- Cultivated the world's first million-ton wide-plate stainless steel production enterprise that successfully achieved seamless integration of ferronickel and stainless steel smelting;
- Ranked third in the global market share of medium-grey high-durability polarizers;
- Ranked among the top three in the world in the segmented bio-fermentation industry.
2. Sounding the Charge for Building a World-class Enterprise:
- 2021: Proposed the goal of striving to enter the Fortune Global 500;
- 2022: Took a controlling stake in Indonesia Guangqing Nickel Industry, building a 100-billion-level stainless steel industrial cluster under the Belt and Road Initiative; its listed subsidiary invested in a new aluminum extrusion project in Australia; total assets exceeded the 100-billion-yuan mark;
- 2023: Successfully ranked among the Fortune Global 500 enterprises.
It is essential to 'sail overseas by borrowing boats', and more importantly, to 'build boats to sail overseas'. In recent years, the overseas business of GDGHC's subsidiaries has also shown a doubled growth trend. Pearl River Bridge brand products are sold in more than 100 countries and regions around the world, earning the reputation that 'where there is smoke from cooking, there are Chinese people; where there are Chinese people, there is Pearl River Bridge brand'. Guangdong Advertising Group has successfully been promoted to an official authorized agent of Google LCS and Meta in China, helping more than 200 Chinese enterprises ride the wind and waves to expand their overseas business.
GDGHC continues to pursue efficiency and vitality through reform, striving to build a world-class enterprise with outstanding products, prestigious brands, leading innovation and modern governance, and helping Guangdong take the lead in advancing the Chinese path to modernization.
