Life of GuangZhou - Guangzhou Ranked the '5th Strongest Regional Center City in China'

Tianhe CBD in eastern downtown Guangzhou. (file photo)

Guangzhou is ranked the '5th Strongest Regional Center City in China', according to the "Report on Consolidating Guangzhou's position as A Regional Center" by the Guangzhou Academy of Social Sciences, Yangcheng Evening News reports.

Guangzhou's GDP was more than 800 billion yuan in 2008, ranking 3rd in the major cities of China. However, such GDP performance did not help the city enter the top three of the country's regional centers. Low internationalization level, weak creativity for technology and undeveloped finance become the bottle-neck of the city's development.

Actually Guangzhou still has a long way to catch up with the regional centers in some developed countries like New York and Tokyo. Guangzhou's economic output is only 1/5 and 1/8 of these two foreign cities.

Guangzhou's outlay in technology development ranks 3rd in China in 2008 while still gains a low proportion in the GDP. Though Guangzhou is an important trading city of China. Its total imports and exports are only 1/9 of that of Hong Kong.

The report tells that, Guangzhou is to build itself up as "five centers" within to strengthen its power in the country with the Commodity Trading Center, Asian Modern Logistic Center, Regional Education Center, South China Financial Center and South China Technology Creativity Center.