Guangzhou's Tianhe district ranked third on the list of China's top 100 most innovative districts in 2024, which was released by the market research firm CCID Consulting on March 28.

It is also the fourth time the district has placed among the top three on the list.

Tianhe district is teeming with highrises. [Photo/WeChat account: gztzth]

By the end of 2023, the number of high-tech enterprises in Tianhe reached 2,367, and the added value of digital economy core industries accounted for 22.2 percent of its GDP.

Among the more than 1,300 member units of the Guangzhou Data Exchange, over 100 are from Tianhe; and of the 1,400 trading objects, 315 are owned by Tianhe enterprises. Both numbers lead all districts and counties nationwide.

The district now has 40 national-level incubators and 45 unicorn and future unicorn enterprises, accounting for over 20 percent of Guangzhou's total. There were also 12 new "little giant" enterprises and two cross-industry industrial internet platforms established last year. 

A unicorn enterprise refers to a startup valued at more than $1 billion within 10 years of its establishment, while "little giants" are those specializing in niche industries that apply cutting-edge technologies and have very strong growth potential.