On the 16th December 2015, the China Daily and its Chengdu based reporter Li Yang provided a very broad outline of the Sichuan province’s 5 year plan in relation to fostering economic growth, further improving environmental protection and increasing per capita income. The provincial government acknowledged through “innovation” these metrics can be achieved and investinchengdu.com shares these sentiments.
The Sichuan economy which is valued at USD$458 Billion is considerably larger than various European sovereign countries, but its per capita income still lags below acceptable standards. A per capita income of USD$5,500.00 requires significant economic, educational and social efforts to improve but what is at the heart of these initiatives is “ innovation”.
Innovation has many varied meanings to many varied cultures, but at the heart of it lies the notion “of creating , engineering and implementing new ideas, procedures and techniques to solve our socio economic challenges”. Steve Jobs of Apple was one strongest drivers of innovation within last twenty five years and at the core of his philosophy was the notion of creating and reengineering. Jobs understood socio economic trends exceptional well and what was needed to further develop the “human story, our story”.
Likewise it is this innovation theme that has been wholeheartedly embraced by the Sichuan provincial and Chengdu Municipal governments. “ According to the provincial science and technology bureau, new technology contributed more than 50 percent of Sichuan's economic growth last year”, this is a phenomenal fact that cannot be ignored by corporations and individuals considering to enter these Western China economies.
Investinchengdu.com has regularly advocated that the advanced manufacturing, automotive after market, cultural , environmental protection , medical equipment and new materials industries will be key drivers of the innovation and economic viability paradigm. Corporations and individuals that possess a competitive and technological edge within these industries should seriously consider Chengdu as an attractive destination for there Western China and One Belt One Road investments.
Chengdu is the home to 4 million vehicles and with a growing automotive manufacturing centre (1 million vehicles produced annually) the automotive after market industry will become the new battleground. Vehicles need repairing and servicing and those corporations that can introduce superior repair and technological standards will reap the medium rewards.
The Chengdu and its local county governments have strongly encouraged advanced manufacturing standards to stimulate economic activity and also minimise environmental harm. The Hi Tech zone, The New Tianfu Area, French Sino, German Sino Parks and Zhixin county to name a few wholeheartedly encourage advanced manufacturing and have complimentary policies. Chengdu also has a very well educated and talented education pool who with the right guidance and support will further innovate already well advanced aproduct standards. We have also witnessed a reasonable amount of corporations within the medical manufacturing field entering Chengdu, and leveraging into its geographic and logistical in relation to Western china, the Yangtze River Economic Belt, and the newly created “one belt one road “ initiatives.
Environmental protection is a core concern for people all alike and those corporations and individuals that have the technological solutions should be “stepping up to the plate” as they say. We regularly hear of investors who lament in their inventions and who carry a notion of distrust towards investors alike. However within Chengdu and Sichuan this notion is not prevalent as in other jurisdictions. Chengdu has been regularly observed as “honest Chengdu“ and with further developments in their intellectual property standards these concerns should partially be allayed. Nevertheless environmental inventors have to realise that funding is essential to realise their product potential , but within Chengdu there exists the genuine characteristic of “being fair to one another” and one should also venture here before making concrete long term decisions.
The new materials industry is something that has been turning people minds to what other materials can we produce to thereafter leverage into our manufacturing processes. “Additive manufacturing”, “aggrebind”, “biomimics”, “gas filled panels”, “magnetocaloric” and “rammed earth “, are new technologies taking the world by storm. Indeed Chengdu is the “National Hi Tech Industrial Base for High Performance Fibres” and the Sichuan Jiaotong University, University of Electronic Science and Technology of China are “hotbeds “for these emerging materials. We again reiterate innovation is not a one man project, but requires collaboration between like minded professionals and within Chengdu we can regularly find them conversing on these topics.
Newslink - www.chinadaily.com.cn/china/2015-12/16/content_22727091.htm , please read this link for further discussion on the Sichuan 5 year plan
Disclaimer – The views advocated here are of investinchengdu.com.
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