China's coastal province of Guangdong is a major economic powerhouse and becoming a leader in innovation and technology in the country, according to Chen Anming, deputy secretary-general of Guangdong's provincial government.
"Guangdong right now is not only the largest provincial economy in the country but also the province with the most technological capabilities," Chen said at the opening ceremony of CNBC's East Tech West conference which kicked off in the Nansha district in Guangdong province on Monday.
In 2018 alone, more than 270 billion yuan ($38.5 billion) was spent on research and development in technology and innovation, he said.
"Today, we have some of the brightest tech disruptors and industry experts here at the event. I hope the guests today can use the platform to exchange knowledge, engage in discussions and enhance the innovation in the Greater Bay Area," Chen said, according to CNBC's translation of his remarks in Mandarin.
The Guangdong-Hong Kong-Macau Greater Bay Area is made up of nine Chinese cities in Guangdong province and two special administrative territories, Hong Kong and Macau.
He said he hopes delegates can "create a better future by sharing insights, building relationships, setting up collaborations, sharing opportunities with each other."
The party secretary of the Communist Party of China's Nansha committee, Cai Chaolin, said there are tremendous business opportunities in Nansha right now.
He said the development of infrastructure in the past year has increased international opportunities for businesses. As examples, he said specialized technology schools and programs have been established in the region and the Guangzhou-Shenzhen-Hong Kong high-speed rail has connected Nansha to Hong Kong.
He also reiterated that the Nansha district has boosted efficiency in all aspects for businesses, and that "registering for a new company only takes ten minutes," he said in Mandarin, according to CNBC's translation.