On the basis of statistical data collected since 2006, this paper analyzes the economic transformation achievement made by Guangzhou Municipality through service industry development, cultivating the strategic leading industry, enhancing the capability of independent innovation, accelerating the implementation of "Double Transfer" strategy, building the high-speed network system and other ways, identifies the main problems during the process of transformation and upgrading, and offers advices and countermeasures for Guangzhou to further realize the industrial transformation by taking the opportunity of being constructed to be a national central city and national innovative city, and building the Sino-Singapore Guangzhou Knowledge City and Nansha New District. <<