Sichuan: investors look to ‘land of abundance’

21/06/2018

The government has significant development plans for Chengdu, the capital of the growing Sichuan region. By 2022, the region won’t be defined by pandas and hotpots, but by one trillion yuan in investment.

 

Since ancient times, Sichuan has been called the land of abundance. The region been a production base since the imperial age. Its fertile land, temperate climate, unique food and breathtaking scenery have helped generate a culture dedicated to art, the pursuit of beauty and a life philosophy based on enjoying life.

In a recent Sichuan Daily editorial, the latest data concerning the Economic Development Zone (ZES) of Chengdu were reported . According to estimates issued by the Ministry of Commerce of the People’s Republic of China, the main SESZAN ZES is currently in 12th place at the national level. It’s a notable leap forward in light of the fact that, historically, the cities along the coast,  including Shanghai , Nanjing or Hangzhou, have been the main economic locomotive of the Dragon.

But insiders are aware that Chengdu has long been one of the most important cultural and economic centers in the country, and has historically played a key role in the evolution and progress of the Middle Country.

Now the city represents the new frontier of China — even more than bustling the capital Beijing or the technology hotbed of Shenzhen. Chengdu and the entire Sichuan area, along with the nearby Chongqing Autonomous Municipality, represent a dynamic production cluster, gateway to China and crucial corridor of the ” Belt and road Initiative .”

Although it’s known around the world for its abundance of pandas and spicy cuisine, Chengdu is also one of the richest or most populous cities in China. Home to 10.6 million people, it is the sixth largest city by population and eighth in terms of GDP.

 

Although it’s known around the world for its abundance of pandas and spicy cuisine, Chengdu is also one of the richest or most populous cities in China.

 

Excluding the “Four Autonomous Municipalities,” Chengdu has the fourth largest GDP. Its international airport is one of the busiest in the People’s Republic. In 2017, a thousand trains have reached Europe from the city.

The central government sees an even more economically auspicious future for Chengdu: Officials have predicted it will attract more that 280 thousand technology entrepreneurs in the next five years.

According to the Milken Institute, Chegdu’s ZSE comes in first for commercial volume and importance among all those of Southwest China. Examining factors such as employment growth, foreign investment and high value-add industries, the institute has positioned Shanghai and Tianjin significantly lower than the panda-rich city.

 

The central government sees an even more economically auspicious future for Chengdu: Officials have predicted it will attract more that 280 thousand technology entrepreneurs in the next five years.

 

By 2022 it’s expected that its electronic information sector will be worth 1 trillion yuan.  Future growth areas include biomedicine, automotive equipment, intelligent manufacturing, rail transport, energy efficiency, environmental protection and cultural creativity, each with an expected annual output value of 100 billion yuan.

The annual revenues of e-commerce transactions will amount to more than 2.2 trillion yuan by 2022, according to city forecasts, and all the big companies in Chengdu will have e-commerce services integrated into their business models.

With such a bright prognosis, many analysts believe it’s an ideal time to invest in the “land of abundance.”

 

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