Inland city set to become major economic engine

By Li Jiabao (China Daily) Updated: 2013-01-18 10:55

The western metropolis is buzzing with new construction, including an increasing concentration of high-tech companies, global giants such as Dell Inc and Cisco Systems Inc.

New airport, road and rail connections link the city to both the rest of China and internationally.

Future economic incentives, including those aimed at providing a low-cost business environment, will prove critical in attracting investment to the city.

Inland city set to become major economic engine

Tianfu Life Science Park in Chengdu, capital of Sichuan province. [Photo / China Daily]

Vice-Premier Li Keqiang said during the China-Arab States Economic and Trade Forum in September that China was further opening up to the West, by building a group of forerunning cities, which will spearhead the country's expansion into international markets.

Wu Bangguo, chairman of the Standing Committee of the National People's Congress, said during the Western China International Economy and Trade Fair in September that the country's western region is becoming its "new powerhouse" for economic growth.

Economic growth in the western region has been outpacing that in the eastern part of the country since 2007.

The first nine months of 2012 saw GDP expand by 12.4 percent in the western region, against 9.1 percent growth in the eastern area, according to the National Development and Reform Commission.

And Chengdu's GDP in 2012 was expected to have reached 800 billion yuan, an increase of more than 13 percent from the previous year.

It's Chengdu that is expected to become the center of that western boom, as high-tech industries particularly are developed into industrial clusters in the inland city.

"Chengdu has attracted and built up a group of advanced manufacturing sectors such as IT, the automobile and the aircraft industries, which will help it enjoy strong development," said Sheng Yi, deputy head of Sichuan Academy of Social Sciences.

Guo Yuanxi, a professor from Southwestern University of Finance and Economics, added that the city should further promote high-end manufacturing, which will boost exports and ultimately serve as its engine of economic growth.

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