Guangzhou's Tianhe district ranked sixth on the 2023 list of top 100 municipal districts with high-quality development, according to a recent report announced at the China Fortune Summit.

Dynamic Tianhe at night. [Photo/WeChat account: tianhefabu]

The high-class business environment in Tianhe has attracted many investors, as one of its draws is that entrepreneurs only need 0.5 days to start a business.

In February this year, more than 6,000 new enterprises were established in the district, with a daily average of 311, an increase of 96.8 percent over the same period last year.

Tianhe boasts rich innovation resources. So far, it has gathered 26 colleges and universities, accounting for one third of Guangzhou's total. It also has 54 scientific research institutions, which is nearly one third of the city's total, as well as 10 national key laboratories, half of the city's total. Additionally, over 300,000 innovative talents, including 48 academicians, currently live here.

Tianhe is home to 2,688 national high-tech enterprises, as well as 39 national-level incubators.

This year, Tianhe plans to introduce 20 international brands and 30 flagship stores in Guangzhou, and will hold over 300 consumption promotion activities. An example of this was the 2023 Tianhe Auto Consumption Festival which recently took place, and was estimated to have a consumption value of over 150 million yuan ($21.42 million).