Guangzhou Intensifies Efforts to Show the Advancement of Scientific and Technological Innovation

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GUANGZHOU, China, June 7, 2017 /PRNewswire/ -- 2017 China Innovation and Entrepreneurship Fair (CIEF) concluded on May 27th in Guangzhou. In addition to the world-famous Canton Fair, this is another national fair held in Guangzhou, and will be permanently settling down in Guangzhou starting from this year.

According to Guangzhou Association for Science and Technology, there were more than 1,300 scientific and technological innovative achievements unveiled at the Fair. In addition to the 12 programs signed up prior to the opening of the Fair and more than 30 events held during the Fair, there will be follow-up support for dozens of technological achievements.

As an important central city of China and the capital city of Guangdong Province, Guangzhou, located at the core of the Pearl River Delta, is among the most economically vibrant cities in the world. In fact, held for three consecutive years, CIEF has strong capability to pool and allocate resources. The Fair, with an enabling environment where technology, intelligence, capital, market and talents mix and match globally, is able to turn the city into a hub of incubators for new technologies and industries.

Since the beginning of this year, a group of promising international projects have been settling down in Guangzhou. Five industrial projects worth some 40 billion yuan (5.9 billion USD) respectively, such as Foxconn and Cisco Intelligent Business District, and 25 major projects including China Telecom Innovation Incubation Southern Base that have been launched, painting a promising blueprint for Guangzhou's development.

Positioned as a nationally important center city, Guangzhou formulated and adopted measures on three major international strategic hubs, innovation-driven development, hub-type network city, open economy development, global resources allocation capacity. The city hopes to enhance its presence in scientific and technological innovation and turn it into new growth engine with those promising industries and projects. Economic data shows that in the first quarter, GDP growth of Guangzhou reached 8.2%, higher than those of the country (6.9%) and the province (7.8%). Growths of the fixed asset investment, the general public budget revenue and the total import and export value increased by 10.3%, 13.2% and 31.9% respectively.

According to the latest plan of the Guangzhou Municipal Government, the city is promoting its attractiveness, creativity, and competitiveness by carrying out what it calls "IAB plan", the acronym for Information Technology, Artificial Intelligence and Bio-pharmaceutical industries. Hopefully, under the plan, industrial clusters that generate hundreds of billions of output value by pooling talents, technology and capital, will be formed in a way to help the city to reach 2.8 trillion yuan (412 billion USD) in GDP by 2020.

SOURCE Guangzhou Municipal Government