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Guangzhou to develop headquarter economy and financial sector
Latest Updated at 2008-August-19 17:35:56

Guangzhou Development and Reform Commission on April 21 issued a research report on the Development of Headquarter Economy in Guangzhou, saying the city ranked the 3rd among the 35 main cities in China, after Beijing and Shanghai, in their capability and potentiality to spur headquarter economy development.

According to the report, Guangzhou has become a land suitable for breeding company headquarters. Next, the city will work out an overall plan for encouraging the headquarter economy expansion in it and balance this development in its ten districts.

Guangzhou, as the economic and trade centre of the PRD and of south China at large, realized a GDP over 700 billion RMB in 2007, an increase of 14.5% over the previous year; while its utilized foreign direct investment exceeded 3.2 billion USD. In the first 11 months of 2007, Guangzhou proved 244 new over-10-million-RMB foreign invested projects.

Guangzhou, as the country's third metropolis in terms of overall development capacity, now boasts an industrial system covering various major types of industries and intends to exert to develop the headquarters economy by drawing strength from its automobile, iron and steel, petrochemicals and other heavy and high-tech industries. On this basis, it encourages financial institutions to come and set up corporate or regional headquarters.

Guangzhou vs Shenzhen, Hong Kong

Headquarter economy, including R&D, marketing, capital management and strategy making, is the high-end part of the industrial chain. It is the target of Guangdong鈥檚 industrial upgrade. And the Pearl River Delta region already have Hong Kong as a top choice for Asian Pacific Regional Headquarter with its advanced financial, legal, management and logistic sector, and have Shenzhen as another choice with finance and hi-tech power. So in the new round of international industrial transfer trend, how can Guangzhou develop its modern service and headquarter economy become a key problem for the city鈥檚 government.

Guangzhou鈥檚 advantage as companies鈥 regional headquarter

Guangzhou is one of the strategic centers of the Pan Pearl River Delta region, with a good air, port and rail system. It is also one of China鈥檚 three international communications access cities.

Guangzhou currently has 28 higher education institutes and 557 R&D units, with 186,000 technology professionals, which provide a supple talent resource for the multinational regional headquarters.

Guangzhou is a pilot city in digitalization in China.

Guangzhou has fast developing logistics, finance, exhibition, tourism and intermediate services.

In December 2004, World Bank rated Guangzhou as A+ in investment climate. Besides, as a melting pot of east and west cultures, Guangzhou is attractive to multinational companies.

Editor: Yan

By: Zhang Ying Source: Newsgd.com
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