Tianhe district aims to achieve a 6 percent growth in its GDP in 2024, with the total amount exceeding 700 billion yuan ($97.47 billion), announced by Chen Jiameng, the district's Party secretary, at the Guangzhou High-quality Development Conference on Feb 19.

By the end of 2024, the district's fixed-asset investment is set to increase by 18 percent to surpass 83 billion yuan, while its total retail sales of consumer goods will exceed 220 billion yuan, Chen added.

This year's Guangzhou High-quality Development Conference takes place on Feb 19. [Photo/Yangcheng Evening News]

This year, Tianhe is poised to focus on sci-tech innovation to promote the construction of a modern industrial system, Chen noted.

It will advance the high-end and professional development of productive service sectors like finance, new-generation information technology, and modern business and trade. The number of licensed financial institutions is set to reach some 300 by year's end, while the total volume of telecommunications business is expected to increase by about 16 percent. The leasing and business services revenue will grow by over 10 percent, and the total merchandise sales are poised to reach some 1.4 trillion yuan.

Preferential policies are also expected to be launched to boost the district's high-quality development, aiming at adding 100,000 new market entities this year, the number of enterprises above the designated size exceeding 10,000, and the high-tech enterprises above the designated size totaling over 1,100.

Tianhe is towered with high buildings. [Photo/WeChat account: tianhefabu]

Construction of major platforms in the district is also scheduled to be boosted this year, Chen said at the conference.

The Tianhe central business district is expected to expand the building and headquarters economies, while the Guangzhou International Financial City plans to advance key tasks like investment promotion and infrastructure construction. The Wushan-encircled innovation source area is set to focus on transforming sci-tech achievements, and the Longdong-Fenghuang area is poised to be devoted to developing the life and health industry and the modern urban industry and building an international education park.

Chen also noted that Tianhe will advance the renovation of 16 urban villages in the scope of its major platforms in 2024.

The district is expected to make overall efforts to improve its environment and infrastructure to prepare for the 15th National Games, which is scheduled to be jointly hosted by Guangdong, Hong Kong, and Macao in November 2025.