Guangzhou to drive high-quality development through innovation push

Guangzhou, the capital of Guangdong province, plans to accelerate digital and intelligent innovation to upgrade its traditional industries and expand emerging sectors, according to Guo Yonghang, Party secretary of the city.

Speaking at the Guangzhou City High-Quality Development Conference on Thursday, Guo emphasized the city's commitment to integrating advanced manufacturing and service industries while advancing their digitalization and green transformation.

He said that Guangzhou is using its solid industrial base and rich scientific and educational resources to accelerate scientific and technological development and innovation and lay a more stable and solid foundation for high-quality development.

To this end, the city government will establish a collaborative technology transformation mechanism of "scientists + entrepreneurs + investors" to help promote the research results of science and technology to enter the market and accelerate the transformation of scientific and educational talent resources into real productivity, Guo said.

The city government is encouraging more foreign investment to develop the city's key industrial areas, including intelligent manufacturing, biomedicine, automobiles and high-end medical care, he said.

Meanwhile, the city government is expanding and diversifying international markets, giving full play to its advantages as a global trade center.

In addition to stabilizing the basic foreign trade and investment market, Guangzhou will be a committed partner in the joint construction of the Belt and Road Initiative and amplify the spillover effect of the China Import and Export Fair, known as the Canton Fair, to further explore and expand into the global market, added Guo.

Sun Zhiyang, mayor of Guangzhou, said the city government aims to foster a favorable environment for investment and business. By balancing market efficiency with proactive governance, the city will support scientific innovation and enable entrepreneurs, scientists and investors to thrive and grow their careers and businesses in Guangzhou.

He said the city government would make precise and sustained policy-support efforts to promote the city's market reform and build several leading and iconic industrial projects and platform enterprises in the following months.

Guangzhou reached a gross domestic product of more than 3.1 trillion yuan ($425.4 billion) in 2024.