As the only city designated to pilot the comprehensive expansion of its service industry, Guangzhou highlighted the achievements of its 13 innovative initiatives at the promotion conference on greater openness in the services sector on Sept 3.
These endeavors encompassed major projects such as the establishment of the ZF Technical Center Guangzhou.
Presently, Guangzhou's service sector has realized an added-value of 10.31 trillion yuan ($1.6 trillion) in the first half of 2023, constituting 73 percent of the city's GDP.
In addition to revitalizing its domestic industry, Guangzhou has garnered attention from global high-end service sectors. The city's lithium carbonate futures market witnessed a substantial first-day trading volume of 14.4 billion yuan.
Furthermore, the city has fostered deeper collaborations with the Guangdong-Hong Kong-Macao Greater Bay Area, which has propelled high-quality developmental strategies.
This bold endeavor is indicative of Guangzhou's robust path towards nurturing a thriving environment for its service industry, which will heighten the city's collaborative potential.
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