A view of Canton Tower in Guangzhou, Guangdong province. [Photo/VCG]

The governmental and corporate sectors of Guangdong, the largest provincial-level economy of the country, are wasting no time in advancing high-quality development.

A high-profile provincial conference on high-quality development was held on Saturday, the first working day after the Spring Festival holiday.

High-quality development is an inevitable path of Guangdong toward modernization, said Huang Kunming, Party secretary of Guangdong.

In the past four decades, Guangdong has laid a solid foundation in quantitative accumulation. The province lags behind developed economies mainly in development quality. When a new breakthrough in quality is achieved, Guangdong will start a new round of development and overtaking, he said.

Work will be carried out to promote an orderly transfer of some industries from the Pearl River Delta to the less developed eastern, western and northern parts of the province, said Ai Xuefeng, director of the provincial development and reform commission.

Efforts will also be improved to build the Guangdong-Hong Kong-Macao Greater Bay Area into an international scientific, technological and innovation center.

The provincial government has set a goal of generating more than 5 percent growth in gross domestic product and an 8 percent increase in fixed-asset investments this year.

Policies will be issued for promoting investments from the private sector, including that in new technologies, new industries, new application scenarios and innovation, he said.

Guangzhou, the provincial capital, is striving to surpass the 700 billion yuan mark in automobile output this year, said Lin Keqing, Party secretary of the city. Guangzhou has held the top position in automobile manufacturing for four consecutive years, with more than 3.1 million vehicles produced last year.

German chemical group BASF will advance its investment and construction at its Verbund site in Guangdong's Zhanjiang this year as planned, according to Liu Min, vice-general manager of BASF Integrated Site (Guangdong) Co.

The province's latest policies on manufacturing and foreign investments are set to help advance the infrastructural construction in the petrochemical park in Zhanjiang and attract more quality investors to achieve synergized development there, she said.

China Resources Microelectronics will go all out in the construction of its 12-inch integrated circuit plant in Guangdong's Shenzhen, which is expected to go into operation at the end of next year and have the capacity of producing 480,000 chips annually, its president Li Hong said.