Tianhe district secured the 8th spot in the list of China's most valuable urban areas for venture capital in 2024.

The list was revealed by CV Info, a top financial service technology firm in China's private equity investment sector, at the recent Zhongguancun Forum in Beijing.

Focusing on the regional venture capital atmosphere and the quality of regional development, the evaluation system includes 10 specific indicators such as GDP, number of new enterprises, and growth rate of new enterprises, among others.

The modern and towering Tianhe district. [Photo by Su Junjie/Guangzhou Daily]

In 2024, Tianhe recorded a GDP of 661.47 billion yuan ($90.51 billion), leading Guangzhou city for 18 consecutive years.

The district saw the establishment of 105,000 new enterprises in the same year, contributing to a total of 600,000 businesses. Additionally, it welcomed 1,810 new enterprises above the designated size, surpassing 10,000 in total, securing the top spot in both new and overall figures within the city.

In contrast to conventional indicators utilized for evaluating the quality of regional development, the system integrates the proportion of social welfare expenditures – such as education and healthcare – into the overall regional expenditure framework, aiming to enhance the quality of life for residents.

Data reveals that Tianhe has established 45 new primary and secondary schools and kindergartens in the past five years, adding over 40,000 new public school places for basic education.

Furthermore, high-quality medical projects like the Sun Yat-sen University Medical Oncology Scientific Center have been constructed, raising the average life expectancy to 83.23 years. Elderly care services such as community health centers have covered all streets in the district.