Ten companies, along with ten more business leaders, have been awarded for their growing role in innovation and business upgrading in Guangdong province, a longtime testing ground for China's reform and opening up, according to organizers.

The awards ceremony, which was organized by media groups of Guangdong Radio and Television Station and Yangcheng Evening News, was held on Wednesday in Guangzhou, the provincial capital.

According to the organizers, companies and business leaders being awarded are mostly engaged in information technology, modern logistics, Internet finance, high-end materials, biochemical and energy-saving sectors.

"They are playing an increased role in innovation, helping drive industrial upgrading and economic development," said Yao Jingyuan, a renowned economist.

A number of high-profile business people, including Ma Huateng, chief executive officer of Tencent Holdings Co Ltd, and Ding Lei, founder and CEO of Netease Inc, have been honored at previous events, which were initially launched 11 years ago.

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