Guangzhou, which is known as a "city of commerce for the millennium," is making great efforts to promote the development of digital economy, artificial intelligence, 5G, industrial internet, and the Internet of Things (IoT), with an aim to inject new vitality for economic growth in the years ahead.

Lu Zhiqiang, deputy head of the Guangzhou publicity department, said that Guangzhou has great potential in developing its digital economy as the city lies in the forefront of China's reform and opening up.

"Developing AI, 5G, industrial internet, and IoT would further showcase a new look in Guangzhou and help boost the city's economic development," Lu said.

Chen Jianrong, deputy director of the Guangzhou development and reform commission, said that relevant departments in Guangzhou will further improve the investment climate for the development of the city's digital economy, AI, and internet industries by further simplifying procedures for local new and high-tech companies in the coming months.

Guangzhou's innovative science industry has witnessed sustainable growth in recent years, said Lin Huanxu, chief engineer of the Guangzhou bureau of science and technology. The number of new and high-tech companies in Guangzhou had grown from 1,919 in 2015 to more than 12,000 by the end of 2019.

According to Hu Zhigang, chief engineer from the Guangzhou bureau of industry and information technology, Guangzhou had a total of 227 internet companies above designated size by the end of 2019, and that the internet industry generated 176.6 billion yuan ($25.14 billion) in revenue last year.

Yang Xiaohui, an official with the Pazhou administrative committee in Guangzhou's Haizhu district, said that his committee is seeking to attract more special talents to settle in the district's Pazhou Pilot Zone for AI and Digital Economy in the future.

The zone has made the development of the AI, 5G, industrial internet, and IoT industries a priority in the next few years, Yang said.