Favorable industrial policies to spur economic growth

Last year, Deloitte China registered a company in Guangzhou's Tianhe district and signed a cooperation agreement with the local government.

The two sides agreed to optimize Guangzhou and Tianhe's business environment, technological innovation and industrial systems and utilize Deloitte's rich experience and global resources in the sector of digital professional services in a drive to jointly promote the development of high-end services and facilitate the settlement and innovation-driven upgrading of relevant firms.

"Tianhe is a powerhouse in high-end professional services in the entire city. In addition to the robust expansion of professional services like accounting, legal consultation and counseling, the district has been working on aligning its professional services system with international practice and supporting all sectors with high-quality resources and favorable policies," said Guo Yancheng, a partner with Deloitte China, in an interview.

Guo emphasized that the main reason his company set up a branch there was the sound local business environment for industrial development resulting from the rollout of favorable policies.

The building of Tianhe Intelligent Business District (IBD) and Guangzhou International Financial Town has become a major drive for the district to further develop artificial intelligence (AI) and digital economy.

Statistics show that over 60 Fortune Global 500 corporations have established a presence in Guangzhou International Financial Town, which is an important component of the Guangzhou AI and Digital Economy Pilot Zone. 

Meanwhile, Tianhe IBD, a key link in Guangzhou's innovation axis, is committed to developing five intelligent industrial clusters, which include Netease Town and a digital agricultural industrial cluster.

"There is a bright future for Tianhe to become a key commercial center in the years to come as it has integrated development of modern business environment, high-quality innovation and professional services, and a core hub function. I am confident of its promising future in the process of project construction and follow-up cooperation with the district and also have high expectations for its future development in the 14th Five-Year Plan period (2021-25)," said Guo in the interview.

Guo stressed that his firm was willing to further deepen its cooperation with Tianhe on the building of a digital ecology, industrial planning and investment attraction.

Sound business environment to facilitate the development of digital economy

ZWsoft, a reliable domestic provider of all-in-one CAx (CAD/CAM/CAE) solutions with self-developed 2D CAD, 3D CAD/CAM, and electromagnetic/structural simulation technologies, was listed on the STAR Market at the Shanghai Stock Exchange on March 11.

It is the second Tianhe-based listed firm after Guangzhou Xiaopeng Motors Technology Company.

"The Tianhe District People's Government, Tianhe Bureau of Industry and Information Technology and other local government departments have adopted numerous favorable policies and supporting measures to help relevant firms better deal with their difficulties and problems in business operation and inject fresh vitality into the innovation-driven development of all enterprises concerned and into entire industries," said Liu Yufeng, executive vice-manager of Zwsoft, in an interview.

Liu noted that Tianhe has become a highland of the software industry in Guangzhou, adding that there will be a bright future for his company as a rising number of high-tech enterprises have settled in the district over recent years.

Tianhe's resolve to strive for the upper hand in the development of the digital economy and to maintain a sound business environment comes from the belief that enterprises have strong market influence.

The district has been working on building itself into a demonstration business environment area that will have great influence in the Guangdong-Hong Kong-Macao Greater Bay Area and function as a platform to promote China's new development paradigm where domestic and overseas markets reinforce each other, with the domestic market as the mainstay; it is thus moving to facilitate the high-quality growth of its digital economy.