Guangzhou proved popular at the 2017 annual meeting of the China Development Forum, China's preeminent platform for dialogue between China's senior leadership and representatives from leading global businesses, international organizations, and academics, which was held in Beijing from March 18 to 20.

The 2017 annual meeting of the China Development Forum, China's preeminent platform for dialogue between China's senior leadership and representatives from leading global businesses, takes place in Beijing on March 18. [Photo by Li Xin/Xinhua]

Guangzhou Mayor Wen Guohui attended the three-day forum and held discussions with more than 30 companies from both China and overseas.

The high level of "opening-up" and efforts made to boost technological innovation as well as the partnerships between Guangzhou's government and multinational giants, all contribute to Guangzhou's booming economy, according to Ren Xuefeng, Party chief of Guangzhou.

In recent years, more multinational companies have chosen Guangzhou as a base for opportunities in China. In 2016, 1,757 foreign-invested companies in Guangzhou were set up, registering year-on-year growth of 23 percent.

A total of 288 of the Fortune Global 500 companies had operations in Guangzhou by the end of 2016, including Cisco Systems (China), which invested 20 billion yuan ($2.90 billion) in the Cisco (Guangzhou) Smart City project, which aims to build the largest platform for internet R&D and intelligent operations outside of its headquarters in the United States.

In addition, Sakai Display Products Corp, a subsidiary of the world's largest electronics contractor Foxconn Technology Group, announced the start of construction work on the world's largest 8k-resolution panel factory in Guangzhou, capital of Guangdong province in early March.

Guangzhou is now vigorously developing strategic emerging industries including new-generation information technologies, artificial intelligence and bio-pharmaceuticals, promoting the city as a comprehensive hub for international shipping, aviation and scientific and technological innovation, according to Ren.

Guangzhou is scheduled to host the Global Fortune Forum 2017 in early December, displaying its powerful and prominent role on the world stage. Guangzhou keeps opening its door to multinational giants, deepening cooperation and building partnerships with mutual benefits.

After meeting with senior executives from global giants such as Apple, Tesla, Nestle and McKinsey, Wen expressed his view that Guangzhou has long integrated local advantages into the global economic system, positioning Guangzhou's economy for tech-powered development.

Many participants attending the forum noted Guangzhou's improving business climate and natural environment, competitive operating and living costs, and its plentiful supply of skilled labor, technologies and capital.

It's really no wonder that Guangzhou, a vibrant economic powerhouse, has attracted so many multinational corporations.

Premier Li Keqiang talks at a meeting held for representatives of overseas companies during the China Development Forum held in Beijing on March 20. [Wu Zhiyi / China Daily]