Society

Chengdu became regional leader in foreign investments

(chinadaily.com.cn)
Updated: 2011-05-10 16:38

Chengdu, already named the world's fastest-growing city by Forbes magazine, this year wants to add more than 10 Fortune 500 companies to its base where 189 Fortune 500 companies have already been settled. The city welcomed 12 Fortune 500 companies in 2010 alone to boost its regional ranking to No 1 in actually utilized foreign capital.

On May 3, Chengdu Economic Daily reported that Chengdu ranked No 1 among midwestern China cities in actually utilized foreign capital, achieving $6.41 billion in the first quarter of this year, up by 43.2 percent from the same period in 2010.

During the first quarter of 2011, Chengdu Economic Daily reported that Chengdu’s electronic industry investments reached $7.31 billion, up by 75.4 percent over the same period last year. Total production capacity for computers is expected to reach 100 million units by October, when Chengdu's computer productivity will account for some 20 percent of total global production, the newspaper reported.

Chengdu this year is accelerating efforts to recruit new foreign investments to its industrial park. The city recently signed cooperation agreements with New Sichuan Innovation Technology Park, and has attracted projects such as the New Hope Group's headquarters and Wanke Group's western headquarter. Hong Kong Services Park in Jinjiang District attracted investments from Sun Hung Kai and Hongkong Land Holdings Ltd. Taiwan Strait Investment Group disclosed plans to build a "Taiwan Genesis" Culture Creative Park in the eastern part of Chengdu. Netherlands International Group is considering building an "EU Industry Park" in the city.

Last year, Chengdu’s total imports and exports reached $24.678 billion, a year-on-year increase of 38.15 percent, among which exports totaled $13.874 billion, up by 32.1 percent. Thus, Chengdu ranked No 1 in exports among China’s 18 Midwestern cities, while the growth rate in exports was 1 percent higher than the country’s overall growth rate.

According to the city's Municipal Bureau of Commerce, Chengdu was home to 2,356 enterprises that actually involved in import business in 2010, 127 more than in 2009. 300 enterprises each reported more than $10 million in exports, increasing by 138 . In 2010, 30 enterprises each reported at least $50 million in exports (seven more enterprises than in 2009). Fifteen enterprises each reported more than $100 million in exports (three more than in 2009).

Exports of the city's State-owned enterprises totaled $3.517 billion, exports of collective enterprises reached $156 million, and exports of private enterprises totaled $6.983 million.

In addition to high-tech products and electronics, the city also is a base for enterprises providing pharmaceutical products, agricultural products and footwear. Asia, Europe and North America were Chengdu's main export markets with exports totaling $11.898 billion, a year-on-year increase of 24.04 percent, accounting for 85.76 percent of the city's exports. There also was a sharp increase in exports to emerging markets such as Africa and Latin America.