The Nansha district of Guangzhou, China, has the potential to become a "city where dreams are realized," said a politician in the world's second-largest economy.
Guangzhou is one of the 11 cities that form the Greater Bay Area. The area registered a gross domestic product of $1.6 trillion in 2017 and is home to major transport nodes.
Cai Chaolin, the party secretary of the Communist Party of China's Nansha committee, said the Greater Bay Area has the potential to become a major economic and business hub in the world. Nansha, situated in the heart of that region, is poised to benefit.
Speaking at the opening of the CNBC East Tech West conference, Cai said there are a number of initiatives to attract technology companies and talent to Nansha.
Nansha is now home to a number of firms in the artificial intelligence space, such as self-driving car start-up Pony.ai, said Cai, whose speech in Chinese was translated by CNBC.
The party secretary also spoke about an initiative that now allows companies based in certain locations outside Nansha to complete the formalities for business registration in one day. In addition, the city also is focused on attracting needed talent.
"Nansha is a city where dreams are realized. It is a city of opportunity, a city to start a business and a very dynamic city," Cai said.