E-commerce to focus on retail, cross-border trade, service sector, commerce bureau says
Transformed over two decades from China's biggest base for heavy industry in the western region, Chengdu is now thriving with a modern economy built on high-technology industries.
Chengdu plans to launch more high-tech enterprises over the next three years to drive the city's economy and innovative strengths amid China's industrial upgrading.
With transactions thriving - particularly online - between international markets and China's western region, Chengdu is boosting its logistics services to meet the demand of a red-hot e-commerce boom in the city.
As the fires of entrepreneurship burn in western China, the Chengdu Federation of Industry and Commerce is expanding a program that will help its member chambers of commerce do more to support 240,000 private-sector enterprises in the city.
Chengdu Diao Pharmaceutical Group Co, the biggest pharmaceutical company in western China by revenue, is expanding its presence in Europe as it pursues a stronger foothold in a tough market that's had limited access to traditional Chinese medicine.
With car sales rising in China's vast western region, Chengdu appears to have developed a new revenue source with which automobile makers can expand their factories and gain an edge over the fierce competition taking place in the country's eastern region.
Fortune magazine Managing Editor Andy Serwer found Chengdu "a dynamic magnet for multinational companies", but the capital of Sichuan province has also had a strong pull on foreign political leaders recently.
After touring three scenic cities in China, Michelle Obama, the first lady of the United States, said Chengdu was her favorite.
Obama visited China from March 20 to 26, along with her mother and two daughters.
Chengdu aims to further open up its educational programs as it is "aiming higher toward good education with a global focus", said Huang Xinchu, the city's Party chief.
The latest proof that Chengdu is gaining fame with multinationals is its listing as a recommended global investment destination by the Financial Times FDI Altas.
The Chengdu Municipal Bureau of Expositions signed a framework agreement with the International Association of Exhibitions and Events last week, which means the bureau is now an IAEE member.
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