China's Pearl River Delta region (PRD) is a rising economic powerhouse in its own right, and investors should be paying attention. 

In 1970, Shenzhen was nothing more than a fishing village. Today, it is hailed as the "New Silicon Valley." Its economic growth surpassed Hong Kong's in 2018, with a year-on-year growth of 7%. And Shenzhen isn't alone. Neighboring Guangzhou is now expected to surpass Hong Kong's GDP in a couple of years. 

Money raining down over a man.

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This has created an opportunity for investors, as the Pearl River Delta becomes home to multiple major companies and new consumers. What's more, the region is home to a strong push from Mainland China authorities for the "Greater Bay Area" initiative in the PRD. Best of all, many of the companies in the PRD pay hefty dividends and stand to grow alongside emerging markets. 

Investing in these companies could help investors build wealth in the long-term. It is in that spirit that I've selected two of the Pearl River Delta's biggest and best dividend payers. These companies already command large shares of their respective markets and could keep growing their payouts into the future.

China Mobile

China Mobile Ltd (CHL) will likely play a major role in the coming 5G revolution in China, making it an excellent buy for investors looking to cash in on the super-trend of 5G. It offers a semi-annual dividend payout and currently yields around 4.6%. It's also a constituent stock of Hong Kong's benchmark, the Hang Seng Index (HSI).

Headquartered in Hong Kong, China Mobile provides a range of services including information and communications technology, data communications, and fixed broadband. It stands to benefit from the expansion and the development of the internet of things (IoT) and 5G, which will require more data. 

China Mobile also plans to start commercial deployment of 5G in 2020, which will lead to new streams of revenue as Chinese customers upgrade from 4G capabilities. 

Guangzhou Automobile 

Guangzhou Automobile Group Ltd (GAG) (2238 1.18%) is a large automobile manufacturer based in Guangzhou, China. The company pays a dividend yield of4.8% and has a nine-year payment history. GAG has grown its earnings per share (EPS) 33% per annum over the past five years. 

The company has ramped up automobile production heading into 2020, targeting China's growing middle class and hunger for SUVs. The company has had some domestic success with its SUV Trumpchi, which accounts for 10% of the company's sales. 

And GAG isn't just targeting the Chinese market. The company has established joint ventures with Honda, Toyota Motor, Izuzu Motors of Japan and Fiat Chrysler Automobiles of the US. 

Foolish takeaway 

Investing in companies that pay dividends is a great way to generate income outside of stock gains. Companies that are likely to continue to pay dividends will have strong financials and growth potential. Both China Mobile and GAG offer this to investors. 

As a potential 5G leader, China Mobile can offer investors both growth opportunities and a stable dividend. Guangzhou Automobile also is in a position to offer consistent dividends given its strong net cash balance.

A version of this article originally appeared on our Fool Asia site. For more coverage like this head over to