Guangzhou Development District is making a name for itself in Guangdong province’s capital as a strong catalyst for economic development.
Home to nearly 1,600 high-tech companies, or one-third of the city’s total, the GDD contributed 40 percent of the city’s total industrial output value in 2017.
Government data show that the GDD has built the largest business incubator cluster in South China, with 110 incubators covering more than 6 million square meters.
The district has long been exploring new models to attract investment and reported record high results in 2017, when more than 100 foreign companies agreed to move into the region.
Last year, 102 big investment deals were sealed with total investment exceeding 200 billion yuan ($31.76 billion). Of them, 44 are headquarters construction projects.
The district plays a key role in supporting Guangzhou’s efforts in speeding up the development of industries of next-generation information technology, artificial intelligence and biotech — collectively known as IAB — as well as new energy and new materials development. The GDD has set a goal to contribute 80 percent of the total IAB industrial output value of Guangzhou by 2022.