Guangzhou International

Pearl Bay undergoes great changes in past five years

Update: 2020-04-29 Source: chinadaily.com.cn

Nansha's Pearl Bay, which has been pushing forward development and construction to the standards of first-class cities at home and abroad, has welcomed a total of 31 projects in the last five years, with a total investment value of 83 billion yuan ($11.73 billion).

Pearl Bay has seen huge amounts of development thanks to the construction of the Nansha area, which lies within the Guangdong (China) Pilot Free Trade Zone as well as the Guangdong-Hong Kong-Macao Greater Bay Area.

As an important part of the Nansha FTZ, Pearl Bay has been constructing a demonstration zone for financial and commercial development, attaching great importance to the development of high-end service industries such as the headquarters economy and modern finance as well as scientific innovation.

It is expected that the area will be built into a world-leading central business district for the Greater Bay Area.

Several economic headquarters projects as well as financial projects invested in by companies such as China Communication Construction and Yuexiu International Financial Center have settled down at the east side of Lingshan Island.

The permanent site of the International Finance Forum (IFF) started its construction at Pearl Bay in November 2019, benefiting from its geographical advantages of being located in the central part of the Greater Bay Area.

IFF, also known as Finance 20, is a non-profit and non-official independent international organization headquartered in Beijing. It signed a strategic cooperation agreement with Guangzhou in November 2016 to hold an event in the city every year from 2017.

Zhou Linsheng, chairman of the Guangdong Society of Economic Reform, pointed out that Nansha has formed a broad development space for establishing a hub for advanced scientific research and technological innovation with global influence by developing its finance, port and headquarters economies.

In addition, supporting facilities covering various areas spanning education, medicine, sports, culture and entertainment have been built in the area, making it more livable.

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