Tianhe CBD courts finance industry

Reporters attending the China-Russia Internet Media Forum experience paying their subway fare by swiping their smartphones or bank cards in Tianhe district, Guangzhou, Guangdong province on Oct 28, 2016. [Photo by Zhu Xinxing/chinadaily.com.cn]

The Central Business District in Guangzhou's Tianhe district is looking to maintain its rapid economic growth and enhance its influence on the Pearl River Delta and Southeast Asia through the financial industry.

Tianhe CBD produces one-eighth of the gross domestic product in the provincial capital of Guangdong.

As the most important CBD in South China, it has offices for 140 Fortune 500 companies and boasts annual merchandise sales of more than 1 trillion yuan ($154 billion) in dozens of shopping malls.

"A strong financial industry is the backbone for the CBD's development, providing professional services for the companies in the area and those in the Pearl River Delta and in Southeast Asia," Huang Deshu, deputy director of the CBD's administrative committee, told China Daily.

"The financial industry will be the new engine for the CBD's economic growth and we will introduce new business formats such as internet finance as the internet economy continues to thrive," he said.

To make space for the booming financial industry, the district is building Guangzhou International Financial City, covering 8 square kilometers, to bring in more financial companies and institutions from home and abroad.

Guangzhou Tianhe CBD is one of the country's three largest in terms of its aggregate economy－the other two being Beijing's Chaoyang district and Shanghai's Lujiazui district.

Similarly, the Tianhe CBD has a modern landscape with row upon row of skyscrapers. But it also has Huacheng Plaza, the biggest city park in China.

Covering 560,000 square meters, it is a pleasant journey to walk along the central avenue running through the Zhujiang New Town, with trees, grasslands, ponds and fountains.

Art and culture lovers will be excited to find Guangzhou Opera House, Guangzhou Library and Guangdong Museum beside the plaza.

At the end of the central avenue is eye-catching Canton Tower and Haixinsha, the main venue of the 2010 Asian Games.

The shopping malls in Tianhe CBD are also innovating to maintain growth while facing the challenges from e-commerce and to provide a better shopping experience.

For example, the Grandview Mall invested 680 million yuan on an indoor aquarium, where visitors can appreciate about 500 species of marine organisms, including white whales and a polar bear.

The aquarium has had nearly 1 million visits since it was opened in January, according to Mao Xiang, vice-president of Grandview Group.

"The aquarium is part of our efforts to transform from a shopping mall only to a complex combining commerce, culture and tourism," Mao told China Daily. "Facing the challenges from e-commerce, we need to upgrade the shopping experience."