The 3^rd Youth Venture Competition of Guangzhou has been launched. On November 5, about 500 people, including representatives from the Youth League Committees of more than 30 universities and colleges in Guangzhou, mentors for business launch of young people, leaders of venture capital investment organizations and incubation bases and college students, attended the launching ceremony held at Creative Street of Huanghuagang Science Park, Yuexiu District. Ouyang Weimin, member of the Standing Committee of the CPC Guangzhou Committee and deputy mayor of Guangzhou, attended the ceremony and said that, in the coming five years, the government of Guangzhou will invest RMB1.1 billion to encourage the business launch activities of young people. He said that Guangzhou topped Forbes China’s List of Best Cities for Business in the past two years and the government departments will continue to make joint efforts to create a better business environment. He hoped that Guangzhou will cultivate more young entrepreneurs in the future.