Guangzhou, China will be the venue for the 2017 Fortune Global Forum, according to Time Inc. Chief Content Officer and Fortune Editor-in-Chief, Alan Murray.

This is the fifth time the group would host the Fortune Global 500 in China since it began in 1995.

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Alan noted that Guangzhou is a perfect venue for the forum, highlighting its historical experience and current standing in the trade market.

"Guangzhou, the third largest city in China, is perfectly suited for next year's gathering," he said. "It has more than 2000 years of history in global trade and already serves as home for investments for more than half the Global 500."

The forum brings together CEOs in different fields with the goal of exploring globalization and digitization as a tool for business.

"The two trends (globalization and digitization) are deeply entwined; they are irreversible; and if properly guided they are still the best routes for prosperity for the broadest number of people," he added.

Murray encouraged big companies to perfect the two areas else the two would overtime outdo them. He said he is optimistic that the annual gathering would create a platform for plans.

The attendance is limited to the Fortune Global 500 Company CEOs only. However, upon request, one can be invited to the forum.

Vice Mayor of the People's Government of Guangzhou Cai Chaolin has assured Fortune of the city's commitment to ensuring a successful forum.

"Choosing our city to host the 2017 Fortune Global Forum is a recognition Of Guangzhou's distinctive progress and promise as a hub of globalization and international exchanges," said Cai.

The forum would be held late in November or early December in 2017.

Tagschina, Fortune Global 500, Guangzhou, Fortune, Alan Murray