Financing channels provide support

Guangzhou is strengthening its support for innovation with diverse financing channels and a business-friendly environment.

"In 2016 alone, Guangzhou's financial investment in science and technology was 11.3 billion yuan ($1.71 billion), double the figure in 2012, with 80 percent of the investment going to companies," said Lin Huanxu, chief engineer with the Guangzhou science technology and innovation commission.

Guangzhou has founded the largest credit risk compensation system for science and technology industries nationwide. It can provide a total credit line of up to 9 billion yuan, which ranks No 1 among all the major cities in China.