Guangzhou is a famed global business center in South China. Photos provided to China Daily

With all its achievements in the 11th Five-Year Plan (2006-2010), the South China metropolis of Guangzhou is now seeking to partner with more businesses from home and abroad.

And the city has a particular interest in those who will help further transform its industrial structure, assist in development of a regional financial hub, bring independent innovation, boost urban infrastructure and public facilities, as well aid the development of creative industries.

"The endeavors aim to help the city make major breakthroughs in strategic infrastructure, leading industries and development," noted a senior official.

"The advances are expected to enhance the city's core competitiveness, cultural soft power and international influence across the board over the 12th Five-Year Plan (2011-2015)."

It has revealed an ambitious target to build itself into a national pivotal city.

"With all the development in the past five years and the urban facelift for the 2010 Asian Games, Guangzhou has unprecedented business opportunities and more outstanding advantages for investors," he said.

The city will continue efforts to speed up expansion of its international airport along with harbors, rail hubs and international information in the coming five years, making it even more convenient for investors to share in the city's geographical advantages, according to the official.

Guangzhou lies at the center of the Pearl River Delta region, a very short distance from both Hong Kong and Macao, and serves as a business entrepot for investors from Beijing, Shanghai, Singapore, Taipei and Tokyo.

Its traffic network includes Guangzhou Baiyun International Airport, Guangzhou Port and railway stations that all help link the city with the rest of the world.

Guangzhou Baiyun International Airport handled 40 million passengers in 2010, while Guangzhou Port had cargo throughput totaling 400 million tons and 12 million containers, according to official statistics.

The official said that the city will further expand development in the city's downtown and the eastern sector along with the new district of Nansha while improving its various State-level development zones.

Thanks to efforts and incentives to attract top-notch professionals from home and abroad, Guangzhou has pooled abundant human resources, he said.

"Guangzhou will make greater effort to promote international practices and improve financial services during the 12th Five-Year Plan to fortify its reputation," he said.

Guangzhou topped the Forbes list of "Best Commercial Cities on the Chinese Mainland" in 2010.

Hefty financial support of up to 4 billion yuan annually from 2011 to 2015 is earmarked for its strategic industries, with awards of up to 50 million yuan each to new investors who base their regional headquarters in the city, he added.

Guangzhou's GDP grew 13.2 percent annually from 2006 to 2010, with the total reaching 1.0748 trillion yuan last year, trailing only Shanghai and Beijing nationwide.

Spending on R&D comprised 2.4 percent of its GDP, while high-tech industries generated 38.5 percent of its gross industrial output and patents totaled 15,000 last year.

The city had 174 investment projects funded by global top 500 enterprises by the end of 2010. Its imports and exports surpassed $100 billion last year.

(China Daily 11/02/2011 page15)