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

Guangdong province, China's economic powerhouse, will shore up technological innovation, and drive the upgrade of its manufacturing industry, as part of its efforts to promote high-quality development, the country's national legislators from the province's delegation said on Thursday during an open panel discussion in Beijing.

Technological innovation is the driving force behind the upgrading of traditional industries, and Chinese companies must strengthen their independent innovation capabilities to seize opportunities in the new wave of technological revolution and industrial transformation, said Li Dongsheng, founder and chairman of Chinese consumer electronics maker TCL Technology Group Corp.

Developing technology-driven manufacturing industries requires substantial capital investment, and companies need to be bold in investing in the future to secure their own future, Li said.

In particular, Guangdong has positioned itself as a major player in the new energy vehicle (NEV) industry, with one out of every four NEVs in China being made in Guangdong, said Feng Xingya, president of GAC Group, an automobile manufacturer based in Guangzhou.

The company will further its innovation investments to accelerate breakthroughs in key technologies such as solid-state batteries, domestically produced chips, and intelligent connectivity, to help consolidate the province's core advantages in the NEV market, Feng said.

Meanwhile, by cultivating new technologies such as autonomous driving, hydrogen fuel cells and flying vehicles, these forward-looking research initiatives seek to unlock new opportunities and cultivate new products, services, business models and driving forces, Feng said.

Moreover, globalization has become an essential path for the development of Chinese enterprises. With China's significant contribution to global manufacturing output, it is imperative for companies to expand their presence beyond the domestic market, Li said.

Companies that fail to go global risk being left behind. It is crucial for Chinese enterprises to proactively position themselves in the global industrial chain, participate in international trade and compete in international markets, Li added.

That said, technology-based small and medium-sized enterprises currently face several challenges in areas such as the aggregation of tech talents and the commercialization of scientific achievements, said Che Wenquan, a professor from South China University of Technology, stressing that targeted support measures should be rolled out to addressing these concerns.