Guangzhou authorities said that city aspires to become a trade hub, home to young entrepreneurs and the regional base for Fortune 500 enterprises in the near future.

Guangzhou has been reducing the cost of operating a business or start-up, and has been accelerating moves to make administrative and public services more efficient, Cai Chaolin, a standing member of the CPC Guangzhou Committee, said.

Cai is also on the executive committee for the Fortune Global Forum to be hosted in Guangzhou December 6-8.

City authorities have been touring China and gateway cities around the world to invite more enterprises to join the December event.

Highlighting the benefits of the Nansha (Guanghzhou Area) Piloted Free Trade Zone, located 40 minutes drive from the city center is one of the key points of the roadshow's stop in Shanghai.

The zone is to become a shipping, diamond trading and automobile imports and exports center, taking advantage of its location and its position as a pilot free trade zone. By the end of June 2017, the number of enterprises established in the Nansha Free Trade Zone had increased by 30,221 since April 2015, according to the 2017 Fortune Global Forum executive committee.