Guangzhou vows to further commit itself to opening to the outside world, which is in the genes and blood of the city, said a senior city official Wednesday.

"The opening of the 2017 Fortune Global Forum helps the city elevate its opening-up to a new level," said Liu Yuelun, chairman of the Guangzhou Committee of the Chinese People's Political Consultative Conference (CPPCC).

"Recently, many multinational corporations and Fortune 500 companies, such as Foxconn, General Electric and Cisco, have increased their investments in Guangzhou, especially in high technology industries, including artificial intelligence, biomedicine, new energy and new materials."

"Guangzhou has also attracted more international talent to set up businesses here as the city has a comfortable environment and reasonable housing prices," he added.

The ways of investment are also becoming more diversified, with resources such as talent, capital and equipment from different origins.

"The city will pursue a development path driven by quality, efficiency and innovation, instead of prioritizing the scale and speed of its economic development," he said.

"The high-quality service, market and business environment of Guangzhou makes it quite easy for multinational companies to do business here."