Under the transition of China's "New Normal" economy, Guangdong’s economy has been through its most difficult times, and its economic structure is gradually entering the process of continuous improvement. What is the significance of this for China's local economy? In our view, first there is the high degree of market economy in Guangdong; the private economy is developing well. Second, the Guangdong economy has not abandoned the manufacturing industry. Third, the Guangdong businessmen are known for their pragmatic business tradition. In general, low-key, pragmatic, focusing on the manufacturing industry are important factors in the achievements of Guangdong's current economy, and can serve as a model for the development of China's various local economies.