According to annual surveys conducted by the independent Milken Institute - a highly-respected independent economic thinktank based in California – cities in Western China are racing ahead in terms of economic performance.
Chengdu, Chongqing and Guiyang – all located in Western China – topped the table in a 2017 ranking of China’s best-performing big cities, above the likes of Beijing and Shanghai. In terms of jobs, wages, output and investment, the Western China region is shining bright, and is set to shine even brighter in the years to come.
RISE TO PROMINENCE
The spotlight was trained on the Western interior of China in the early 2000s, when the Chinese government sought to steer greater investment to the interior regions.
Over the years, the top-down push has resulted in numerous business-friendly policies which have created a dynamic landscape of varied and high value-added industries, high-quality labor markets and lower costs than the megacities – all attractive to investors.
The allure of China’s inland cities was further bolstered when Chinese President Xi Jinping launched and went all out to realizing the Belt and Road Initiative (BRI) in 2013.
The plan to connect Asia, Africa and Europe through land and sea routes, as well as through trade, investment and other areas, directly benefits the Western China region.
The Chengdu, Chongqing and Guiyang cities are aligned with the BRI route, and analysts say this is partly why the Western China cities fared so well – and will continue to do well - in the performance rankings.
NEW GENERATION CITIES
Today, the Western Chinese cities are already leaders in embracing technology and innovation to create better lives.
Take for instance the Chengdu Tianfu Software Park which is located in Chengdu, the science and technology heart of China. The park, known as the “Silicon Valley” of China, was crowned the “Leading Park in China Software and Information Service Industry” at the 2017 China Software conference.
It is a peaceful oasis where workers can cycle and rest in parks, while working for one of nearly 250 tenants which include big-name MNCS like IBM, SAP, NEC, GE, NCIS, Huawei and Alibaba.
In this climate of positivity, innovation and expansion, the region is more than ready to embrace the world of Professional AudioVisual (Pro-AV) and Integrated Experience solutions, which supports the advancements being made in every industry across Western China.