Guangzhou, capital city of Guangdong province, has reaped benefits from establishing a modern and international business environment.
Pazhou, located in northwest Guangzhou's Haizhu district, is building an experimental zone for artificial intelligent (AI) and digital economy. Enjoying unique geographic advantages, Pazhou faces Zhujiang New Town and Guangzhou International Finance Town across the Pearl River.
The aerial view of the experimental zone for artificial intelligent (AI) and digital economy in Guangzhou's Pazhou. [Photo by Xu Yiyi/chinadaily.com.cn]
Covering an overall area of 125,000 square meters, the zone started its construction in June 2015. A total of 21 major projects have settled in the area, with their total investment reaching 72.5 billion yuan ($10.26 billion), including those by business giants like Tencent, Alibaba, Vipshop, and Xiaomi.
By the end of 2018, 108 projects and companies have registered in the area, with their annual main business income reaching 18.24 billion yuan, up 94.5 percent year-on-year. That figure has grown to 51.33 billion yuan in the first half of 2019.
Yang Xiaohui, deputy secretary of the Party committee of Pazhou, said that the experimental zone in Pazhou is expected to become an innovative platform for high-quality development and push forward the development of the Guangdong-Hong Kong-Macao Greater Bay Area.
Pazhou Complex, the newest exhibition venue for Canton Fair, covers a total area of 800,000 sq m. [Photo by Wu Jiawei/Xinhua]
The China Import and Export Fair, also known as the Canton Fair, was first held in Guangzhou in 1957 and is held every spring and autumn.
Pazhou Complex, which became the newest exhibition venue for the Canton Fair in September 2008, is one of the largest modern and smart international exhibition areas in the world.
Enjoying great fame on the global stage, the Canton Fair provides an important platform for Chinese companies to explore overseas markets.
The fair, which spans a total exhibition area of 1.19 million square meters, attracted 195,454 overseas purchasers from more than 210 countries and regions, such as Hong Kong, India, the United States, South Korea, and Thailand, to the 125th Canton Fair that took place from April 15 to May 5.
The total export transaction of the Canton Fair has reached about $1.38 trillion by the end of the 125th Canton Fair.