Zong Yi, CEO of Guangzhou-based PHNIX, introduces the innovative approach of his company during a meeting with national media representatives on July 20, 2015. [Photo provided to China Daily]

The city currently has two major targets in capital support to tech-innovative enterprises. By the year of 2017, its fiscal spending on science and technology sector will reach 10 billion yuan, twice the number of 2013. The total area of science and technology incubators in 2017 is also expected to double in comparison to four years ago, reaching 8 million square meters.

"The transformation of science and technology into realistic productive force has been a major weakness for Guangzhou," accepts Chen and points out that the city will work on the shortcomings.

Four local entrepreneurs including Zong Yi, CEO of PHNIX, shared their innovative philosophy during the exchange. Chen urges the media to give more patience and care for innovative enterprises in their early startup stage.