With China losing its previous competitive edge in manufacturing, industrial upgrading to the stage of innovation-driven development seems to be an imperative. Guangdong and its core region of Pearl River Delta are playing a role of pilot in finding a new development path for the whole country. Whether Guangdong can rebuild its global industrial competitiveness on innovation dynamics is significant to China's economic growth, both current and in the future. The book explores next-step strategies and policies for transforming Guangdong's industrial development to an innovation level, not only for reviewing its past experience or proving certain development models. A bigger part of the book is contributed to analyze the essential ways that Guangdong emerged as world factory, as well as the current problems encountered by business and government. This is because that the future can be only better prepared when the past and present, the strengths and weaknesses, are clearly identified and understood. The book tries to combine local knowledge and information with theoretical frameworks in the research on innovation management and policy to crystallize the nature of Guangdong's industrial development. The book presents an in-depth analysis of the rising and challenge of Guangdong as China's world factory. The book serves as an exploring trigger for those who are interested in the future of China's world factory.