Guangzhou, capital of south China's Guangdong province, is making its mark due to its many advantages, including a high-quality and comfortable living environment, relatively low property prices and a business-friendly climate, said the city's vice-mayor Cai Chaolin.

Cai made his comments at this year's Guangzhou Annual Investment Conference, held at the Baiyun International Convention Center from Monday through Tuesday.

The vice-mayor also noted at the conference that a number of international companies, including Cisco, General Electric and Foxconn, have recently announced major projects in Guangzhou.

The city is also boosting international exchanges and will host a number of upcoming forums and conferences, including the Fortune Global Forum 2017, which will take place from Dec 6 to 8, World Routes 2018 and the IFF Annual Global Conference.

Guangzhou has attracted more than 20,000 foreign-invested companies over the last four decades, utilizing more than $80 billion of foreign investment, according to the city's commission of commerce.

As a pioneering city in China's process of reform and opening-up, Guangzhou has laid formidable social and industrial foundations during the past three decades, said Chen Feng, chairman of HNA Group, which owns Hainan Airlines.

The city is also blessed with a rich history and a unique cultural environment, he said, adding that the city also draws strength from its openness, market-oriented approach and the efficiency of its government.

NYSE-listed laboratory equipment maker Thermo Fisher Scientific Inc is opening a precision medicine lab in Guangzhou later this year as it implements the strategic cooperation agreement it signed last year with the city's government, said Gianluca Pettiti, president of the company's China operations.

The agreement covers sectors including environmental protection, food safety, pharmaceutical safety and compliance, and precision medicine.

Otis Elevator, one of the world's biggest elevator and escalator manufacturers by revenue, analyzes cities' supply chains and logistical capabilities when it decides where to do business, said Chu Guohua, director for escalator operations, Otis China area.

The Guangzhou city government has made long-term plans to meet the requirements of businesses.

Harley Seyedin, president of AmCham South China, said he envisions Guangzhou becoming a city where international companies choose to locate their regional headquarters.

His chamber is hosting Amcham's 2017 Asia-Pacific Business Summit in Guangzhou next month, which will be attended by more than 600 business and industry leaders, as well as media, academics, policy experts and top government officials from the US, China and from across the Asia-Pacific region.

liwenfang@chinadaily.com.cn