Chengdu gains from Fortune Global Forum

Asked why Chengdu was chosen as the host for Fortune Global Forum, Fortune magazine's Manager Editor Andy Serwer said it was because the city "represents so many trends".

Serwer said Chengdu is the "perfect" city for the forum, which will put Chengdu in the world spotlight.

The forum, organized by Fortune magazine, is being held in the capital of Sichuan province from Thursday to Saturday. This will be the fourth time since its debut in 1995 that the forum has been held in China and the first time it has been held in a southwest city.

More than 600 state leaders, CEOs of world-class companies and economists from around the world have registered for this year's event under the theme "China's New Future".

The city will enrich the forum, as it is pertinent to its theme and this year's core topics: sustainable development, innovation and technology.

The city's good infrastructure, convenient transport links and logistic systems, comparatively low labor costs and efficient administration system have attracted 238 companies out of the world's top 500 to the city. Chengdu's GDP was 800 billion yuan ($127 billion) in 2012, accounting for one third of Sichuan province's economy and 8 percent of western China's GDP.

Despite this, the city is still confronting many pressing challenges, such as the upgrading its industrial structure and environmental protection. Only when these problems are solved, can Chengdu's growth be sustainable.

The city is not alone in facing these problems, as they exist throughout China and many other emerging economies. Hopefully, the forum will not only raise Chengdu's reputation as a hospitable host with huge growth potential, it will also, with its international views, expertise and resources, offer suggestions for ways in which the city, China and other developing countries can translate their potential into sustainable development that improves people's lives.