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Shanghai's companies will invest US$2b in 17 projects in Chengdu
By Zhang Fengming |
December 18, 2012, Tuesday
|
Print Edition
Print Edition
SHANGHAI'S advanced manufacturing and service companies will invest 12.4 billion yuan (US$2 billion) in 17 projects in Chengdu as the capital of Sichuan Province aims to grow a sustainable and environmentally-friendly economy.
The projects, covering bio-pharmaceutical, information technology, auto, logistics and organic agriculture, were among deals signed in Shanghai yesterday with the Chengdu city government.
"Chengdu is not targeting interior cities as competitors," said Chengdu Mayor Ge Honglin. "We are looking at coastal cities in order to help the people in Chengdu enjoy a better living standard and social benefits."
Ge is leading a delegation of senior Chengdu officials to Beijing, Shanghai and Shenzhen on a three-day mission to sign a total of 50 deals worth 42.2 billion yuan. Today Chengdu is set to sign 16 deals worth 11.7 billion yuan in Shenzhen.
Chengdu is at the forefront of the central government's campaign to hasten the development of economies in the interior areas of the country.
Not resting on its laurels, Chengdu aims to attract more projects in advanced modern manufacturing, officials said. So far, 229 of the Fortune 500 global companies have planned to invest in the city, a massive jump from 42 in 2002.
The city will host the 2013 Fortune Global Forum, which has been held in Shanghai, Hong Kong and Beijing.
Chengdu has 2 million registered professionals with special skills and management expertise, ranking the city fourth in the country and first in the west. Chengdu boasts a low 5 percent turnover rate for labor unlike Shanghai and Beijing.
During a seminar between corporate executives and Chengdu officials yesterday, companies praised the city's business-friendly administration and viewed it as a growth engine for the central and western regions.
Far-sighted foreign investors now incorporate Chengdu into their strategic plans for China. The city is already home to IT giants such as Intel, Dell and Lenovo. World-renowned automakers like Germany's Volkswagen, Japan's Toyota, Volvo, and China National Heavy Duty Truck manufacture their vehicles in the city.
To create more awareness of Chengdu's attractiveness among global companies and to reach out to the world, the city has teamed up with Shanghai Daily which has launched a Go Chengdu special coverage from late November.
The projects, covering bio-pharmaceutical, information technology, auto, logistics and organic agriculture, were among deals signed in Shanghai yesterday with the Chengdu city government.
"Chengdu is not targeting interior cities as competitors," said Chengdu Mayor Ge Honglin. "We are looking at coastal cities in order to help the people in Chengdu enjoy a better living standard and social benefits."
Ge is leading a delegation of senior Chengdu officials to Beijing, Shanghai and Shenzhen on a three-day mission to sign a total of 50 deals worth 42.2 billion yuan. Today Chengdu is set to sign 16 deals worth 11.7 billion yuan in Shenzhen.
Chengdu is at the forefront of the central government's campaign to hasten the development of economies in the interior areas of the country.
Not resting on its laurels, Chengdu aims to attract more projects in advanced modern manufacturing, officials said. So far, 229 of the Fortune 500 global companies have planned to invest in the city, a massive jump from 42 in 2002.
The city will host the 2013 Fortune Global Forum, which has been held in Shanghai, Hong Kong and Beijing.
Chengdu has 2 million registered professionals with special skills and management expertise, ranking the city fourth in the country and first in the west. Chengdu boasts a low 5 percent turnover rate for labor unlike Shanghai and Beijing.
During a seminar between corporate executives and Chengdu officials yesterday, companies praised the city's business-friendly administration and viewed it as a growth engine for the central and western regions.
Far-sighted foreign investors now incorporate Chengdu into their strategic plans for China. The city is already home to IT giants such as Intel, Dell and Lenovo. World-renowned automakers like Germany's Volkswagen, Japan's Toyota, Volvo, and China National Heavy Duty Truck manufacture their vehicles in the city.
To create more awareness of Chengdu's attractiveness among global companies and to reach out to the world, the city has teamed up with Shanghai Daily which has launched a Go Chengdu special coverage from late November.
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