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Open Governance

Chengdu: Midwest’s No.1 in Executed Foreign Investment

  In 2010, Chengdu used $6.41-billion foreign investment, a 43.2% increase, ranking No.1 in midwest cities. On Jan. 30th, reporters learned form the Chengdu Information Office that last year, Chengdu newly added 12 of the world’s top 500 enterprises such as Nippon Steel, EDF, ANZ Bank and so on, amounting to a total 189 such enterprises which is the most among western cities.

  Hong Kong investment tops in contracted foreign capital, and the biggest investment amounts to $300-million.

  Attract more investment to the cooperative industrial park. A cooperation memorandum has been signed regarding the Singapore-Sichuan Tech Innovation Park. SHK, Hong Kong Land and other noted enterprises have been brought into the Jinjiang District Hong Kong Service Industry Park. Investment groups on both sides of the Taiwan Straits, Taiwan Pacific Construction Group, ING Group plans to build “Taiwan Culture and Creativity Park”, “Taiwan Business Modern Service Industry Park” and “EU Industrial Park” in Chengdu respectively.

  Projects of high and new technology, advanced manufacturing industry, headquarters economy, modern service industry, modern agriculture and other industries have won breakthroughs in attracting investment. Enterprises like Texas Instruments, Dell, Lenovo, Foxconn, Compal, Wistron and big projects like FAW-VW Chengdu finished automobile expansion and engine project, Volvo Chengdu base project, Alibaba and Ctrip have been successfully drawn in.

  The top five contracted foreign funds come from Hong Kong ($3,625,750,000), a YoY growth of 336.42%; Singapore ($663,630,000), a YoY growth of 520.45%; the United States ($95,790,000), a YoY growth of 99.1%; Japan ($83,880,000) and Taiwan ($83,180,000). The biggest three newly approved foreign-funded projects are: Yanlord Land (Chengdu), $300-million; Texas Instrument Semiconductor Manufacturing (Chengdu), $190-million; Chengdu XiTeng Real Estate Development Company, $100-billion.

  Total import and export value approaches $24.7-billion, and growth methods of export have changed.

  In 2010, the import and export value of Chengdu amounted to $24.678-billion, a 38.15% growth. The export value was $13.874-billion, a 32.1% growth, taking up 73.62% of Sichuan’s total export value and ranking No.1 among 18 midwest cities. The increase rate was one percentage point higher than the national increase rate. The increased export value was $3.376-billion, accounting for 72.2% of Sichuan’s total increased export value.

  The growth methods of export have changed. Chengdu now has 2356 enterprises with actual import and export performance, 127 enterprises more than that of 2009. There are 300 enterprises with over 10-million dollar export value, 138 enterprises added; 30 enterprises with over 50-million dollar export value, 7 added and 15 enterprises with over 100-million dollar export value, 3 added. The export value of state-owned enterprises was $3.517-billion, collective enterprises was $156-million, private enterprises was $6.983-billion, and foreign-funded enterprises was $3.219-billion. Export markets are mainly Asian, European and North American markets.

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