Li Xinquan, Executive Deputy Magistrate of Tianhe District, said on May 8 that Tianhe, home to a significant number of corporate headquarters, has tremendous potential for economic development. He revealed that the supply of Grade-A office buildings will surge in the years ahead, and that, by 2008, Zhujiang New Town alone will have another 2 million square meters of Grade-A office buildings and 15 five-star hotels, which will lay a solid foundation for the district to develop its economy with a focus on the provision of services for corporate headquarters based within the district.

To provide better services for the corporate headquarters, the Tianhe District Government is preparing to build an information exchange platform; it also has plans to launch a dedicated economic website for the corporate headquarters in the third quarter of the year and to build an economic association for them.

As of 2005, Tianhe District was home to 232 corporate headquarters, about 1.2% of the total number of businesses in the district. The assets of these headquarters were worth RMB 638.7 billion, accounting for 75.7% of the total assets of businesses in the district. The annual sales revenues per employee of these corporate headquarters reached RMB 1.54 million, 1.52 times the district's average level. These headquarters, making up merely 1.2% of the total number of businesses in the district, contributed 32% of the district's total tax revenue.

Editor: Yan