Foshan’s Chancheng district has launched Guangdong’s first district‑level New Economy Development Bureau as it seeks to move beyond its manufacturing roots and build a broader, innovation‑driven urban economy at the heart of the Greater Bay Area.
The bureau was officially inaugurated at Chancheng’s High‑Quality Development Conference on 12 March, with officials framing it as a key institutional reform to “stimulate the vitality of new technologies and industries.”
According to information released after the event, the bureau’s main functions include drafting development plans for the “new economy,” coordinating policies across departments, and conducting research on emerging sectors and business models.
[See more: Foshan is investing in over 600 construction projects in 2026]
It has also been tasked with improving the supply of application scenarios – for example, smart-city pilots or industrial internet platforms – and exploring more accommodating regulatory frameworks for fast‑moving areas such as platform services and digital content.
In practical terms, the new agency is expected to act as a one‑stop shop for platform companies, tech start‑ups and service providers, helping to connect them with funding, talent and data resources. It will oversee the “gradient cultivation” of new‑economy firms, from early‑stage ventures to larger players, and support the implementation of cooperation projects with outside investors and partners.
The move comes as Foshan accelerates a long‑running push to upgrade its industrial base. The city is already a major manufacturing centre for sectors such as household appliances, electronics and auto parts, and has been promoting high‑end equipment, biomedicine, new materials and new‑energy vehicles under national strategies like “Made in China 2025.”
