The Guangdong-Hong Kong-Macao Greater Bay Area Private Enterprise Science and Technology Innovation Summit and the Achievements Matchmaking Conference undertaken by the All-China Federation of Industry and Commerce (ACFIC) and the People’s Government of Guangdong Province were held on Oct 11 in Guangzhou.

Guangzhou Private Science and Technology Park is given the title of “ACFIC private enterprise science and technology innovation demonstration base” on Oct 11. [Photo/Chinanews.com]

The summit marks an important measure by the ACFIC and Guangdong provincial government for supporting and guiding the agglomeration of innovative private economy resources in the GBA to Guangzhou and the city’s Baiyun district.

At the summit, the ACFIC approved “Opinions on Supporting the Reform and Innovative Development of Guangzhou Private Science and Technology Park”, awarded the park the title of “ACFIC private enterprise science and technology innovation demonstration base” and confirmed its leading role in promoting the high-quality development of advanced manufacturing, facilitating the transformation of scientific and technological innovation achievements and pushing forward the improvement of the business environment for private economies.

In order to support the reform and innovation of the park, the Guangdong Provincial Committee of the Communist Party of China (CPC) issued and implemented a plan in June. The Deepening Reforms Commission of the CPC Guangzhou Municipal Committee, Guangzhou Municipal Industry and Information Technology Bureau and Guangzhou Federation of Industry and Commerce released supp orting policies, and the local government of Baiyun district formulated detailed measures.

According to the government of Baiyun district, since 2021, Guangzhou Private Science and Technology Park has achieved a series of accomplishments thanks to favorable policies in the district. The planning area of the park has been expanded to 38 square kilometers, and a development pattern integrating one innovation core area and three industrial parks has been formed.

With the settlement of a number of scientific and technological projects, including research institutes, incubation and innovation centers, industrial parks and leading enterprises, the overall innovation capability of Baiyun district has been greatly elevated.

Six listed companies, including Glodon, a budding software company, and Germany’s Knorr-Bremse, a global market leader for braking systems and a supplier of rail and commercial vehicles, have settled in Baiyun district.

Eleven projects with a total investment of about 15 billion yuan ($2.35 billion) cover a number of cutting-edge sci-tech industries, such as new-generation information technology, artificial intelligence, ultra-high definition, rail transit, biomedicine, equipment manufacturing and new materials.

As a core area for the development of the GBA, Baiyun district attracted and implemented 128 projects with a total investment of more than 89.09 billion yuan in the first three quarters of 2021.