Chengdu Consolidates Its Position as the Leading City in Western China

CHENGDU, China, Nov. 29, 2016 /PRNewswire/ -- The 16th Western China International Fair (WCIF) was held in Chengdu, Sichuan province, China from November 3-14. Chengdu, a fast growing metropolis in western China, is again drawing wide attention globally. The city will play a wider, deeper and more dynamic role on the world stage, as it continues its evolution in becoming one of China's leading cities. The event's tagline "Western China, Opportunities for the World" accurately reflects Chengdu's ascendance as a city of increasing importance, not only in China, but also globally.

Chengdu Consolidates Its Position as the Leading City in Western China
Chengdu Consolidates Its Position as the Leading City in Western China

At present, Chengdu is home to 278 of the Fortune Global 500 companies, including 201 foreign businesses that have chosen Chengdu as a base for their Chinese operations. Chengdu is also the selected location within China for more than 6,650 foreign-invested companies. In 2015 alone, Chengdu benefited from US$10 billion in foreign direct investment (FDI). In the first nine months of 2016, the city's government signed deals for 224 major projects (including existing projects that needed additional capital), representing a total investment valued at 242.9 billion yuan (approx. US$36.8 billion). The investment included 18 large-scale projects where the funding in each individually exceeded 3 billion yuan. With its unique set of characteristics, Chengdu has become a popular investment destination and an ideal business venue for investors worldwide.

Chengdu played host to an increasing number of major events of global importance, including the WCIF, the 22nd World Route Development Forum, the third G20 Finance Ministers and Central Bank Governors Meeting, 2016 China (Chengdu) Global Innovation and Entrepreneurship Fair, 2015 Airport Cities Asia Pacific Conference & Exhibition, the 12th World Chinese Entrepreneurs Convention and 2013 Fortune Global Forum. The long list of international events that chose Chengdu as the venue demonstrates the level to which the city has become an attractive location for an event or for the home of one's business in China. As of November 15, the city had hosted 505 large conferences and exhibitions so far for the year, including 122 international events, achieving 97.1 per cent of its annual target. The aggregate exhibition area reached 3.183 million square meters, up 10.7 per cent year on year and fulfilling 96.5 per cent of its annual target. Total revenue from the conference and exhibition industry stood at 71,210 million yuan, up 12.8 per cent year on year and achieving 91.4 per cent of its annual target. Direct revenue totaled 8,210 million yuan, up 12.7 per cent year on year and meeting 90.7 per cent of its annual target, while overall revenue reached 69,710 million yuan, up 12.8 per cent year on year and meeting 91.5 per cent of its annual target. The number of visitors tallied at 87.8 million, up 3 per cent year on year, while 4,430 temporary jobs were created, up 10.7 per cent year on year.

Chengdu is evolving into one of China's leading cities, becoming not only a regional economic hub, but also a center for science and technology, cultural creativity, foreign contact and all modes of transportation in western China. Looking forward, the city expects to play an increasingly important role in global resource integration and competition as well as in global city rankings and as an industrial ecosystem. All signs point to Chengdu becoming one of the leading Chinese cities in terms of comprehensive strength and economic power. 

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Source: China Council For the Promotion of International Trade Chengdu Sub-council