More than 2,000 companies were set up in the Pazhou Pilot Zone of Haizhu district in the first quarter of 2021, bringing the total number of enterprises in the zone to in excess of 30,000, said Guo Mingfu, the director of Pazhou Pilot Zone’s Administrative Committee at a press conference held recently.

According to Guo, the revenue of Pazhou’s main businesses reached 71.3 billion yuan ($11 billion) in Q1, a year-on-year growth of 38.6 percent.  

Since its opening in 2015, Pazhou Pilot Zone has gradually become an important engine boosting Guangzhou’s economic development.  

According to Guangzhou’s strategic plan for AI and digital economy development issued in 2020, Pazhou is the core area for this development. The city has vowed to transform itself into a world leading digital economy demonstration zone.    

As for Haizhu, Pazhou Pilot Zone will be the main development focus that boosts the district’s construction as a modernized central urban area.

In the past five years, the zone has brought in 29 leading projects related to AI and digital economy, with estimated investment totaling 87.6 billion yuan. Last year, the zone saw over 4,000 new enterprises and its main operation income coming in at 269 billion yuan.