Baiyun district in Guangzhou celebrated the groundbreaking of 62 major projects with a total investment exceeding 100 billion yuan ($14.01 billion) on Oct 29, marking a pivotal moment for the district's economic and industrial development.

The groundbreaking ceremony of Guangdong-Hong Kong-Macao Greater Bay Area Agricultural Produce Trading Center and Kingold Rungis Global Agri-food Trading Center. [Photo/WeChat account: gz_baiyunfabu]

The Guangdong-Hong Kong-Macao Greater Bay Area Agricultural Produce Trading Center, a provincial key project, broke ground. This modern agricultural trading hub, invested by Qiaoxin International Food Supply Chain, covering an area of approximately 133.33 hectares, aims to become a leading platform for the distribution of high-quality agricultural products. The first phase, spanning 35.13 hectares, will feature over 910,000 square meters of building space and is expected to generate an annual transaction amount exceeding 100 billion yuan, creating over 50,000 jobs.

The fourth quarter major project commencement ceremony took place at the same site. The 62 projects span various sectors, including modern urban agriculture, intelligent manufacturing, technological innovation, biomedicine, and commercial consumption. Private enterprises play a key role, accounting for 65 percent of the total industrial projects and receiving a total investment of 24 billion yuan.

Baiyun has already completed key projects worth 82.4 billion yuan in the first three quarters of 2024, with fixed asset investments surpassing 90 billion yuan, the second-highest in Guangzhou. The GDP of Baiyun reached 208.63 billion yuan, reflecting a 5.1 percent year-on-year growth rate.

A rendering of the Guangdong-Hong Kong-Macao Greater Bay Area Agricultural Produce Trading Center. [Photo/WeChat account: gz_baiyunfabu]