Recently Wen Guohui, the Mayor of Guangzhou, delivered the Governmental Work Report on the city’s Legislative annual Session. In the report Wen structured Guangzhou’s schedule in 2018, laying emphasis on what fields Guangzhou will strengthen in 2018.
Key word: new driving forces
Five-year action plan to accelerate IAB industries
The city has seen hi-tech enterprises flourish, including many Fortune 500 enterprises as well as leading companies in certain fields last year.
A number of industry leading IAB projects from such companies as Foxconn, Cisco, GE, BeiGene, AsiaInfo and GAC are already underway. Furthermore the USA’s Cold Spring Harbor Laboratory and Guangzhou’s Development District signed a memorandum of cooperation on the joint establishment of a research institute, a scientific and technological ‘achievement transformation center’ and a biopharmaceutical industry fund.
Guangzhou has formulated a five-year action plan and will strive to make the output value of its IAB industries hit one trillion yuan by 2021.
Moveover, Guangzhou will increase the industrial investment to 150 billion Yuan, with the increasing rate of 100%, tailoring to cultivate 6 industrial clusters with the value of over 100 billion Yuan.