The international science and technology innovation hub, is one of three strategic hubs that Guangzhou plans to establish from 2016 to 2020. According to Guangzhou Science & Technology and Innovation Commission, the city will see an increase of over 1,000 high-tech companies and the R&D input will account for more than 2.7 percent of its GDP in 2017.
The hub will bring more world-class research institutions, science & technology enterprises as well as related incubators this year, said Zhan Decun, Deputy Director of Guangzhou Science & Technology and Innovation Commission.
In 2017, Guangzhou will be more active in global innovation cooperation, especially with countries & regions along the Belt and Road as well as some other developed countries.
According to Zhan, the city plans to set up overseas offices in cities and regions leading in science & technology innovation, such as Silicon Valley, Boston and Israel's Tel Aviv in Israel reach research partnership and attract innovative enterprises as well as top talents to Guangzhou.
Besides, Guangzhou will see a net increase of more than 1,000 high-tech enterprises this year. It will accelerate the development of emerging industrial cluster including industries like information technology, biological health, new materials, etc. Also, a variety of professional incubators will be built to support those innovative industries and the amount of maker spaces will reach 150 in 2018.
Due to increased investment in technology research and development, the number of high-tech companies in the city increased from 1,253 in 2011 to 4,740 in 2016, according to authority.
A number of large high-tech players such as Cisco Systems, General Electric and Foxconn Technology Group have signed agreements to build innovative businesses in Guangzhou last year.
The investment of science and technology jumped from 5 billion yuan in 2015 to 8 billion yuan in 2016. Guangzhou will pump 10.8 billion yuan ($1.6 billion) into science and technology in 2017.