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CHENGDU’S FIVE KEY INDUSTRIES AND THE CRITICAL NEED FOR EXPERIENCED PROFESSIONALS
On the 28th January 2016, chengduinvest.gov.cn published an article in relation to Chengdu’s emerging growth industries, the critical need for experienced professionals to drive their evolution and we summarise the main points as follows.
“The Chengdu Municipal Government outlined various policies to support the development of five key industries, namely energy conservation and environmentally friendly equipment, shale gas, information security, aviation gas turbines and new energy vehicles. The policies will centralise on cluster development, improving land usage, infrastructure and technological developments and subsidy assistance.
However a major shortcoming was the lack of talented and technical professionals to drive these industries. Thereby the Municipal Government has developed various policies and financial incentives for enterprises and professionals to drive and stimulate these five growth industries. Professionals will be provided financial incentives to ease their integration into Chengdu and school subsidies for their children. Enterprises will also be rewarded when employing professionals within these developing key industries.
The policy also highly encourages enterprises to provide professionals with incentives, consider revenue sharing and stock options.
Furthermore it recommends industry, universities and government departments to collectively galvanise their efforts to encourage engineers with postgraduate and doctorate qualifications to help develop these five growth industries.
Investinchengdu.com agrees that these industries will play a key role in further developing the Chengdu, Sichuan and Western China economies over the medium to long term.
Sichuan which has China’s largest reservoir of shale gas, creates many business opportunities and the government has outlined a string of micro and technical policies for research, exploratory drilling and staged fracturing to name a few.
Energy conservation and environmentally friendly equipment are industries we have been advocating for a considerable period and which provides significant medium term economic advantages. Western China which is home to 400 million inhabitants has insurmountable needs for clean energy and environmental protection and it is only through collaboration between Chinese and foreign companies, and attracting knowledgeable and talented professionals, start ups and growing and innovative enterprises that these tasks can be achieved within a reasonable time frame.
New energy vehicles are indeed a very early infant industry and even though the intentions are spot on, as has proven in other jurisdiction consumers and businesses are yet to warm to this initiative. Nevertheless as they say early development is essential, but within the next ten years more new energy vehicles will be on our roads.
Finally, the most interesting aspect of this article is in relation to the market demands for technical strong and experienced professionals. Corporations are only a legal shell, but it is the technical professionals and managers who drive innovation and the development of new technologies.
The Chengdu Municipal Government has recently launched the “10 Clause Talent Program Policy” (forerunner of the “Chengdu Talent Plan”), which outlines various employment, financial and lifestyle incentives for foreign professionals to locate to Chengdu and further develop their careers.
Thereby “If one has the technical capabilities, the urge to learn, broaden their careers and create new start ups and technologies then Chengdu is the perfect breeding ground”.
With many direct flights to Chengdu, it is only a matter of time that we all discover the socio economic miracle story of Chengdu.
Disclaimer: The above article and its major points have been extracted from the above mentioned web link. The original article is over 3,909 characters and we wanted to articulate the major message and growth opportunities.