Guangdong firms 'losing touch' with industry trends

GUANGZHOU: Guangdong's business owners must change their conservative working style if they are to keep pace with industry trends, experts said yesterday at the first Cantonese (Guangdong) Entrepreneurs' Conference in the provincial capital.

In the 1980s and 90s, Guangdong built its success on labor-intensive original equipment manufacturing.

"But this industrial model has been outdated," Wang Xianqing, a Guangdong business professor, said.