Guangzhou aims to build ten high-end innovation industrial parks by which to develop six influential IAB industry clusters with RMB 100 billion output value for each one, said Zhang Xiaobo, director of the city's industry and information technology commission.
To facilitate an innovation revolution, Guangzhou has become the most promising region in China for attracting global entrepreneurs thanks to its current emerging industries including the new generation of information technology, artificial intelligence and biological medicine (IAB) and new energy and materials (NEM).
Currently, the city sees an influx of investment from world-leading industries. It started the construction of Foxconn 10.5-G 8K Displays Eco-Park, LG 8.5-G OLED Panel Plant, GAC New Energy Automobile Industrial Park, etc.
Also, the city attracted large enterprises to settle their headquarters here, such as South China Headquarters of TCL Group and IFLYTEK, South China Base of China Automotive Technology and Research Center.
The city’s IAB industry has a remarkable 10 percent year-on-year growth in 2017, with total revenue estimated at RMB 520 billion. Its added value in advanced manufacturing and new strategic industries rose by 11.5 percent and 10 percent respectively.
Last year, Guangzhou has set up various funds, such as Guangzhou “Made in China 2025” Industry Development Fund, and other funds for the development of IAB and NEM industries, Zhang explained how the city to gain such a industrial growth.
Besides, the city signed cooperation agreements with Tencent and Alibaba, and boosted the development of Pazhou Internet Innovation Cluster Area, which greatly promoted the construction of smart city.
In 2018, advanced manufacturing is expected to contribute 66 percent of Guangzhou's industrial added value.
In terms of IAB industry, Guangzhou has formulated a five-year action plan from 2018 to 2022. It will strive to make the output value of its IAB industries hit RMB one trillion by 2022, when industry clusters will lead in China with global influence.
At present, emphasis are placed on the construction of ten high-end innovation industrial parks, to introduce more high-end projects and to further integration industries such as Internet, big data, AI in the six industry clusters.
Those clusters will come into being through the building of innovation and start-up platforms including Cisco's Smart City in Panyu, Pazhou Internet Innovation Cluster Area, Tianhe Intelligence Business District (IBD) and Guangzhou Hi-Tech Industrial Development Zone, etc.
According to Zhang, the city will provide more preferential policies in funding, land subsidies, and human resources for IAB development.
Reported by Will, Silverdew
Edited by Olivia