An action plan was recently issued by the Guangdong Provincial Commission for Deepening Overall Reform to support building Tianhe central business district (CBD) into an innovative and outstanding demonstration area for comprehensive urban functions, urban culture, modern service industry, as well as modern and international business environment.

The Tianhe CBD covers Tianhe North Road, Zhujiang New Town, the Guangzhou Artificial Intelligence and Digital Economy Pilot Zone, and Guangzhou International Financial City.

According to the action plan, the added value of the modern service industry in the Tianhe CBD will account for over 90 percent of that of the tertiary industry by the end of 2022. By 2025, the Tianhe CBD shall significantly enhance its economic influence, innovation, and cultural leadership, as well as form industrial clusters in finance, modern commerce and trade, and high-end professional services.

By 2035, its comprehensive strength to participate in global competition and cooperation will be greatly enhanced, while its international influence will be significantly improved.

The Tianhe CBD. [Photo/WeChat account: tianhefabu]

In addition, 17 reform tasks have been put forward in the action plan for the Tianhe CBD.

A wide range of residential and commercial buildings will be built in the Tianhe CBD, while the upgrading of Tianhe Software Park and the transformation of Guangzhou East Railway Station will also be promoted. The CBD will actively undertake the Guangdong-Hong Kong-Macao Greater Bay Area International Forum, as well as major events themed around the Belt and Road Initiative.

It will build a China Happy City Lab, a modern performing arts gathering area, an international fashion show center, a fashion exhibition belt in the city central axis, a digital economy hub, and an international cultural community in the Greater Bay Area.

It will deepen the construction of a legal service gathering area, guide the intelligent and comprehensive transformation of commercial carriers, create a pilot demonstration area for financial technology, cultivate high-end domestic service brands in smart housekeeping and international housekeeping, as well as develop new forms of health services.

It will also establish a full-range digital tax service mechanism, improve the allocation efficiency of financial resources and capital factors, support the sharing of public data, promote the development of digital trade and offshore trade, as well as set up the Greater Bay Area international business and digital economy arbitration center.