Integrated into Belt and Road, city to draw more investment
Known as “the city of brocade” in ancient times, Chengdu, capital of Sichuan province, was once a major source of exquisite silk products along the Silk Road.
In present day, Chengdu has retained its historical role and gained a new mission as a key window for the opening-up of China’s western region.
It is now a vital hub along the Belt and Road, a comprehensive development plan for China to boost cooperation and economic growth with countries and regions along the routes.
Ivan Scalfarotto, Italy’s vice-minister of economic development, said Chengdu is a city of elegance, fashion, livability and vitality.
“Chengdu and Italy have many similarities, such as a diverse food culture and the desire for a good quality of life,” Scalfarotto said, adding that he hopes Italy can play a proactive role in the Belt and Road Initiative.
“The future development of China lies in its western areas, and Chengdu is one of the main driving forces for the growth,” he said. “Italy is willing to become a strategic partner of Chengdu in the fields of trade, investment and tourism.”
Italy signed a joint agreement with Chengdu on Aug 3 to build a cultural park in the city’s Tianfu New Area.
Chengdu is already home to the Sino-German Small and Mediumsized Enterprise Cooperation Park, Sino-French Ecological Park and China-South Korea Innovation and Entrepreneurship Park.
Covering about 670 hectares, the new park will see a series of joint projects between China and Italy in areas such as culture, environmental protection, medical care, agriculture and the aviation industry.
China and Italy will enhance cooperation in art, design and music, with events including Italian music festivals, operas and fashion shows.
Scalfarotto said the two sides could cooperate on common problems troubling mankind, such as aging populations and urbanization.
Italy’s exports to Sichuan grew 14.6 percent year-on-year in the first half of 2017.
To further tighten ties with Chengdu, Italy will also be a host country for the 2018 Western China International Fair, a platform for China to promote trade, investment and bilateral relations with foreign countries.
Other cooperation includes selecting Chengdu as the host city for the Fifth Sino-Italian Food Safety Dialogue in September.
Another example of Chengdu’s internationalization is its economic cooperation with Germany.
One of the significant achievements is the Sino-German Small and Medium-sized Enterprise Cooperation Park in Chengdu’s Pujiang county.
Covering about 30 square kilometers, the park is home to more than 50 enterprises in the precision machinery and related industries. It is one of the five demonstration zones for cooperation between China and Germany set by the Ministry of Industry and Information Technology.
Germany’s Bosch Group has built a new plant in the park, which can realize annual output value of 500 million yuan.
With a total investment of 180 million yuan, the plant produces advanced products such as packaging machinery, hand-held electronics and desktop power tools.
By 2020, the park is expected to attract more than 100 foreign enterprises with an output value of 10 billion yuan.
There are also other cooperative platforms in Chengdu between China and Germany, such as a 22-sqkm zone for industrial innovation in research and development, medical care, intelligent manufacturing and international trade; a 7-sq-km innovative upgrading demonstration zone; and a 58.8-sq-km park for the auto industry.
As Chengdu is advancing its integration into the Belt and Road Initiative, 278 Fortune 500 companies have made investments and 16 countries have established their consulates in the city.
Chengdu’s airport has opened 102 international and regional air routes linking to destinations around the world.
The Chengdu-Europe express rail has expanded to Kurt in Poland, Tilburg in the Netherlands and Nuremberg in Germany. It is set to make about 1,000 journeys this year. from other cities.