The Tianhe parallel session of the eighth China Guangzhou Investment Annual Conference was held in Guangzhou International Financial City on Aug 30, with district head Chen Jianrong providing an overview of the district's international and modern business environment.

The Tianhe parallel session of the eighth China Guangzhou Investment Annual Conference takes place on Aug 30. [Photo/WeChat account: tianhefabu]

Tianhe ranked second among the top 100 Chinese districts in 2022 in a report made by CCID Consulting. Propelled by the Tianhe central business district (CBD), a mature high-end professional service industry cluster has been formed in the district, said Chen.

In addition, the district is home to the Big Four accounting firms, branches of the world's top five advertising media groups, one third of Guangzhou's accounting and law firms, one fifth of the city's real estate agents, as well as 70 percent of the city's human resources agencies, providing the most convenient and comprehensive professional services for enterprises.

"Tianhe's GDP has ranked first in Guangzhou for 15 consecutive years. Hence, many people think of it as a built up region," said Chen. "There is still plenty of room for development in the eastern and northern parts of Tianhe, and Tianhe has broader development prospects in the future."

Skyscrapers in Tianhe district. [Photo/WeChat account: tianhefabu]

Guangzhou International Financial City, which has a planned construction area of nearly 26 million square meters, is being built in the Tianhe CBD. It will focus on technology finance and digital finance, striving to build an international comprehensive financial center, a leading area for digital economy integration and innovation, as well as a model area for Pearl River waterfront vitality, aiming to achieve a GDP of 70 billion yuan ($10.16 billion) by 2025.

As one of the key nodes on the Guangzhou-Shenzhen-Hong Kong and the Guangzhou-Zhuhai-Macao innovation and technology corridors, as well as the Guangzhou sci-tech innovation axis, Tianhe Intelligence Business District has built 130 engineering technology research centers, enterprise technology centers, technology laboratories, and new-type R&D institutions above and at the provincial level.

In the future, it will accelerate the construction of two 100-billion-yuan industrial parks for new generation information technology, as well as smart and new energy vehicles. It will also build industrial parks for emerging industries like the industrial internet and modern urban industry.

The Guangdong-Hong Kong-Macao Greater Bay Area International Business and Digital Economy Arbitration Center was also unveiled at the Tianhe parallel session, which will promote the internationalization and legalization of the district's business environment.