Guangzhou Academy of Social Sciences and the Social Sciences Academic Press jointly released the Guangzhou Blue Book: Guangzhou Innovation-oriented City Development Report 2016. The report points out that in the past two years, Guangzhou has ranked among the top at the innovation rankings. The knowledge-intensive service sector enjoyed a good development momentum and the potential of rapid growth.

 

Guangzhou ranked the 9^th place of the Chinese Mainland Most Innovative Cities ranked by ForbesChina; and the 1^st of the 24 cities (except Beijing and Shanghai) in terms of the intelligent capital and innovation dimensions and the 2^nd in terms of the technology readiness level dimension in the Cities of Opportunity 2016 published by PwC.

 

The blue book points out that Guangzhou enjoyed 14.2% and 12.4% growth of the added value of the financial industry and the information transmission software and information technology service industry in 2015, 5.8 percentage points and 4 percentage points higher than that of the regional GDP of Guangzhou. The newly registered domestic-funded market entities of the knowledge-intensive service industry (excluding the farmers cooperatives) reached 50,500, up 35.6% year-on-year, 24.3 percentage points higher than that of the all kinds of newly registered domestic-funded market entities of Guangzhou. The fixed investment in the knowledge-intensive service industry reached RMB58.57 billion, up 33.7% year-on-year, 23.1 percentage points higher than that of the investment in the fixed assets of the whole society. The contractual foreign investment in the knowledge-intensive service industry reached US$3.88 billion, up 38.2% year-on-year, 34.2 percentage points higher than that of the contractual foreign investment of the city.

 

Source: Translated from Invest Guangzhou, August 4, 2016