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CHENGDU’S ONE BELT ONE ROAD INITIATIVES
The First Finance Daily recently wrote an interesting articles on Chengdu’s efforts in developing its “One Belt One Road Initiatives” (OBOR) and we summarise the main points with added commentary.
“Historically, Chengdu was the starting point of the “South Silk Road” and the central supply route of the “North Silk Road.” The “South Silk Road”, connected China, to India, Iran and Eastern Europe and now forms an integral part of the OBOR.
Chengdu which is a burgeoning Western China business and investment centre was ranked 2nd within the Tier 2 cities for foreign investment. Its economic fundamentals were sound with its 2014 GDP valued at RMB one trillion ($USD 160 billion), fixed investment assets totaled RMB 662 billion and foreign investments exceeded $USD 10.016 billion.
Chengdu has also has been deemed the first choice for multinational companies in formulating their western China investments. As at mid-2015, 268 of the Fortune Global 500 companies have developed branches and/or businesses within Chengdu.
Chengdu’s primary industry advantages reside within the information software, architecture, building materials and advanced manufacturing industries. Furthermore Chengdu has developed a very competitive cost base and exported its manufactured products, such as automobiles to Eastern China and now overseas.
Accordingly to develop its OBOR capabilities Chengdu is developing its inland free trade zones, including the High Tech Zone, The Tianfu New Area and The Chengdu New Airport Economic Zone.
Furthermore Chengdu has recently become a key connection point within the Silk Road Belt of the Bangladesh-China-India-Myanmar (BCIM) economic corridor and The Yangtze River Economic Belt.
Investinchengdu.com advocates “Chengdu’s pivotal role within China OBOR initiatives and the South Silk Road business corridor. Chengdu whose business character has been developed for over 2,300 years understands how to communicate and develop friendly trade relations with its neighbouring sister cities.
Chengdu which is a burgeoning Western China business and investment centre, was ranked 2nd within the Tier 2 cities for foreign investment. Its economic fundamentals were sound with its 2014 GDP valued at RMB one trillion ($USD 160 billion), fixed investment assets totalled RMB 662 billion and foreign investments exceeded $USD 10.016 billion.
Chengdu also has a technically strong and educated workforce of over 3.54 million professionals, plus a well skilled industrial labor pool, who do not command the larger salaries of the Tier 1 Eastern cities. Chengdu also has a thriving research and development and innovation focus, and is home to over 50 universities, 30 national level research institutes and a large number of research laboratories. Universities such as the Sichuan University and The University of Electronic Science and Technology of China, have been instrumental in developing their STEM (science, technology, engineering and mathematics) abilities.
Indeed with the opening of the Chengdu Poland, Europe railway network, products are reaching China and Europe and vice versa within 12 days and Shuangliu International Airport receiving 42 million passengers annually, all the above factors cement Chengdu’s pivotal role along the one belt one road land corridor.
Indeed, those knowledgeable and talented professionals, start-ups and growing and innovative enterprises who take the 1st steps to venture out and discover Chengdu will reap significant socio economic benefits within a two to three year cycle.
See for yourself this miracle and hope to see you one day in Chengdu.
Information source: First Finance Daily 16/10/2015
Disclaimer: The above article has been summarized and translated from The First Finance Daily and added commentary provided by investinchengdu.com.