A think tank for Longfeng Street is established at the conference. [Photo/WeChat account: gzhzfb]

Longfeng Street high-quality development conference held in Haizhu district, Guangzhou on Feb 28. The meeting set the primary development goal for Longfeng Street, which is to strive for a 7.5 percent annual GDP growth rate in five major industries.

In 2023, Longfeng Street achieved significant results: the added value of the service industry increased by 8.7 percent year-on-year, and the added value of the construction industry increased by 9.5 percent annually. Thirty enterprises, each with a main business revenue exceeding 20 million yuan ($2.74 million), have been newly incorporated, securing the top ranking among the streets within the western section of Haizhu's old town area.

In 2024, Longfeng Street will intensify efforts to promote investment attraction in major industrial parks, supporting innovative vitality in the industrial chain. Additionally, there will be a focus on the progress of the cooperation demonstration area with China Shipbuilding Corporation and the development of the second phase of the Taikoo Wharf.

Phase II of the Taikoo Wharf project is expected to commence operations in 2025, with a total investment of 20.23 billion yuan. This will increase commercial capacity, improve overall positioning, and promote shifting consumption patterns towards guided continuous consumption.

Phase II of the Taikoo Wharf project is expected to be operational by 2025. [Photo/WeChat account: gzhzfb]