Tianhe district of Guangzhou hosted 349 business enterprises in the services outsourcing sector in the period January to November, it was announced at a recent news conference in the city.

The businesses generated a total turnover topping $7.62 billion, representing a 6.66 percent year-on-year increase.

That revenue performance represented 41.57 percent of Guangzhou's overall turnover, making Tianhe the top-performing district in the city.

The district also posted a cultural services import and export value of $1.15 billion in the first 11 months of 2024, showing significant growth of 66.96 percent.

During the same period, the total value of foreign trade hit 64.4 billion yuan ($8.82 billion), up by 6.5 percent year-on-year.

The Tianhe central business district, a national digital service export base, exported goods worth $2.28 billion, up 32.22 percent year-on-year, with business spanning over 30 countries and regions.

A GAC Toyota flagship store in Tianhe. [Photo/WeChat account: tianhefabu]

HSBC Software Development (Guangdong), based in Tianhe, reported a total turnover of $1.5 billion in the services outsourcing sector from January to November this year, with an offshore service outsourcing turnover of $1.33 billion.

The company was selected as one of the top 10 leading national digital service enterprises in 2024.

Efforts were also made to promote key projects for foreign-invested businesses in Tianhe, with a cumulative investment of 950 million yuan.

Additionally, assistance was provided to the Swire Group of Hong Kong for their investment of 2.1 billion yuan in the Taikoo Hui Cultural Center project.

Elsewhere, the district's hosting of the 2024 Guangzhou-Hong Kong Financial Cooperation Promotion and the Tianhe Industry-Financing Matching Session of the 10th Guangzhou Annual Investment Conference attracted over 11,000 foreign-invested enterprises and 34 foreign banks to invest and operate in the district.