Sichuan megac­ity to un­dergo in­dus­trial over­haul in com­ing years

China Daily (Hong Kong) - - ADVERTORIAL - By ZHUAN TI zhuanti@chi­nadaily.com.cn

Chengdu, cap­i­tal of South­west China’s Sichuan province, is ready to in­crease the scale of its man­u­fac­tur­ing in­dustr y to 2 tril­lion yuan ($294 bil­lion) by 2022, ac­cord­ing to an of­fi­cial re­port.

Chengdu will strengthen fi­nan­cial sup­port for its in­dus­trial de­vel­op­ment by set­ting up a fund as large as 100 bil­lion yuan, so as to guide in­vestors and so­cial cap­i­tal.

Ear­lier this month, the city re­leased the plan to es­tab­lish it­self as a na­tional hub city, say­ing ad­vanced man­u­fac­tur­ing would con­trib­ute more than half of the city’s in­dus­trial sec­tor.

Elec­tronic in­for­ma­tion is a key sec­tor among the city’s ad­vanced man­u­fac­tur­ing. Its main busi­ness rev­enue was ex­pected to reach 1.2 tril­lion yuan by 2022 with an­nual growth of about 16 per­cent, in­clud­ing fields of cir­cuitry, new-type dis­play, in­for­ma­tion safety, soft­ware, in­tel­li­gent ter­mi­nals, net­work com­mu­ni­ca­tion, ap­plied elec­tron­ics and the in­ter­net of things.

An in­ter­na­tional au­to­mo­bile cen­ter will also be es­tab­lished to pro­duce new en­ergy, light and in­tel­li­gent cars.

Its strength in aero­space, rail tran­sit, en­ergy con­ser­va­tion and en­vi­ron­men­tal pro­tec­tion, new ma­te­ri­als and new en­ergy will drive fu­ture eco­nomic growth, ac­cord­ing to lo­cal of­fi­cials.

The city is also eye­ing cut­ting-edge in­dus­tries in­clud­ing ar­ti­fi­cial in­tel­li­gence, vir­tual re­al­ity, sen­sory con­trol and ad­di­tive man­u­fac­tur­ing, in or­der to im­prove its com­pet­i­tive­ness in the global mar­ket by march­ing into a mid-to-high-end era.

In t h e m o d e r n f i n a n c e in­dus­try, func­tions of the as­set mar­ket, wealth man­age­ment, ac­count­ing, ven­tures’ fi­nanc­ing and new fi­nance will be en­hanced, the re­port said.

L o c a l o ff i c i a l s s a i d t h e y ex­pect the added value of the fi­nan­cial in­dus­try to ex­ceed 250 bil­lion yuan by 2022, ac­count­ing for 12 per­cent of the city’s GDP.

The lo­cal gov­ern­ment en­cour­aged fi­nan­cial in­sti­tu­tions to set up branches, set­tle­ment cen­ters and as­set man­age­ment cen­ters in the city to gather more cap­i­tal.

By 2020, the di­rect fi­nanc­ing rate of en­ter­prises is ex­pected to reach more than 60 per­cent.

To boost tech­no­log­i­cal func- tions in western China, the city has planned to de­velop high-tech ser­vice in­dus­tries by sup­port­ing the co-con­struc­tion of tech­no­log­i­cally in­no­va­tive al­liances and in­dus­trial as­so­ci­a­tions be­tween uni­ver­si­ties and other or­ga­ni­za­tions.

The city’s au­thor­i­ties aim to in­tro­duce 10 e-com­merce en­ter­prises this year and 50 by 2022.

A mod­ern agri­cul­tural demon­stra­tion zone will be con­structed with an op­ti­mized pro­duc tion, op­er­a­tion and in­dus­trial sys­tem.

L o c a l o ff i c i a l s s a i d t h e y ex­pect the city’s to­tal pro­duc­tion of agri­cul­ture to sur­pass 89.9 bil­lion yuan in 2017.

Agri­cul­ture will be linked with ru­ral and lux­ury tourism, with an em­pha­sis on coun­try­side land­scapes, folk cus­toms and fash­ion­able func­tions.

PRO­VIDED TO CHINA DAILY

Rail tran­sit is one of Chengdu’s lead­ing in­dus­tries.

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