The Guangzhou bureau of industry and information technology recently launched the five-year action plan (2022-26) to boost the high-quality development of software parks in the city.

According to the plan, Guangzhou will promote the orderly and coordinated development of software parks in the city in accordance with the principle of "one park with one characteristic," as well as encourage all districts to launch measures to support the development of the software industry and software parks.

With the Tianhe Software Park, Guangzhou Software Valley, and Guangzhou International Financial City as the key areas, Tianhe district will focus on developing industrial applications, digital creativity, digital finance, big data, blockchain, artificial intelligence, as well as the metaverse.

Tianhe central business district. [Photo/WeChat account: tianhefabu]

For key software enterprises with an annual revenue of more than 1 billion yuan ($148.3 million), or those engaged in basic software, industrial software, emerging platform software framework, as well as other low-level research and development with an annual revenue of more than 300 million yuan, Guangzhou will support them to purchase land to establish headquarters in software parks.

Comprehensive support will also be given to qualified specialized, refined, characteristic, and novel small and medium-sized enterprises in financing, innovation, land use and housing, as well as digital transformation.

More than three famous Guangzhou software parks will be established by the end of 2026, as well as over 10 Guangzhou software characteristic parks, according to the action plan.

A famous Guangzhou software park refers to one with a software industry scale exceeding 30 billion yuan, software revenue accounting for over 50 percent of the park, as well as strong innovation capacities, efficient management and services, as well as special institutions at the district level. Parks with a good software industry foundation, distinct advantages and features, as well as comprehensive supporting services can be designated as Guangzhou software characteristic parks.