Tianhe district of Guangzhou recently unveiled plans for its modern commercial and financial expansion. The blueprint was revealed at the district's high-quality development conference.

Wang He, director of the Tianhe commerce bureau revealed its commitment to promoting the development of industries in the fields of commerce and finance, striving for excellence in constructing the district's "12126" modern industrial system.

In terms of modern commerce, Tianhe will focus on the main goal of "supply and demand circulation + consumer cycle + going global", strengthening the hub functions of the industrial supply chain.

It will deepen cooperation with top-tier platforms, creating an ecosystem of "government + internet platforms + industrial clusters" – aiming to nurture more than 10 high-quality leading enterprises.

Companies will receive up to 30 million yuan ($4.11 million) in support for trade circulation, business expansion overseas, and other areas, with the goal of driving total sales to over 1.3 trillion yuan.

Tianhe is committed to developing its modern commerce and finance industries. [Photo/WeChat account: tianhefabu]

The district will implement a combination of strategies including "trade-in, consumer vouchers, and promotional activities" to stimulate consumption.

Efforts will be made to achieve a growth rate of over 4 percent in total retail sales of consumer goods, surpassing 220 billion yuan in scale.

In the modern finance sector, Tianhe will focus on the main goal of "strengthening entities, optimizing services, and seeking innovation", striving to build a strong financial district.

Leveraging platforms such as the Guangzhou International Financial City and the Guangzhou Futures Exchange, it will aim to attract high-quality financial business entities, targeting a financial industry value-added of over 160 billion yuan and being home to more than 300 licensed financial institutions.

Moreover, a special fund of 20 million yuan will be established for government financing guarantee support.

The district will establish an innovative demonstration zone for digital yuan application scenarios. Exploration will also be conducted into cross-border financial pilot projects and data transmission.