Guangzhou's Tianhe district ranked third among the top 100 Chinese districts this year, only behind Shenzhen's Nanshan and Futian districts, according to a recent report from CCID Consulting. This is the seventh consecutive year that the district has been included in the ranking.

The list adopts an evaluation system that monitors 23 indicators. It also makes a comprehensive evaluation from five aspects, namely economic strength, growth momentum, local support, regional influence, and shared development.

The modern and built-up Tianhe district. [Photo/WeChat account: tianhefabu]

The district's GDP has ranked first in Guangzhou city for 16 consecutive years. In 2022, its GDP reached 621.57 billion yuan ($91.57 billion), a year-on-year increase of 2.4 percent.

It is a known fact that a first-class business environment leads to strong competitiveness, and Tianhe has been comprehensively improving its business environment by launching a series of measures.

In 2022, there were 82,500 newly established enterprises in Tianhe, accounting for 29.1 percent of Guangzhou's total. The district also saw the registration of 1,029 new enterprises above the designated size, making up 16.4 percent of the city's total.

An enterprise above the designated size refers to one with annual revenue of at least 20 million yuan.

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

From January to June, a total of 53,000 enterprises were newly founded in Tianhe, increasing by 46.2 percent year-on-year and accounting for 28.9 percent of Guangzhou's total. It also saw 189 new enterprises above the designated size and 86 newly settled projects.

Four major development platforms – the Tianhe central business district, Guangzhou International Financial City, Tianhe Smart City, and Tianhe Intelligence Valley – have been built in the district. To date, there are 234 incubators and maker spaces in Tianhe, ranking first in Guangzhou.