Chengdu Hi-Tech Development Zone looks set to be a major growth engine in the electronics and information industry in the years to come, having developed tremendously in the past decade by focusing on industries and acting as an incubator with universities and research institutes.
With a major emphasis on the development of the software industry, the area is divided into a south and, more recently, west park. More than 16,000 companies are registered within the zone, including global brands such as Intel, Microsoft, Siemens, Nokia, Sony, Toyota and Carrefour.
The zone is recognised as being of significant national importance with Petro-China investing. Major industries in the zone include software, precision machinery manufacturing and engineering, IT and communications, and biomedical.
In 2009, the industrial value of the zone was 98 billion yuan (HK$116.54 billion), and an industrial output of 216 billion yuan.
Gross domestic product growth in Chengdu alone reached 16 per cent last year, and has outperformed the national average over the past three years. This year, the zone is aiming for 25 per cent GDP growth rate to 300 billion yuan, which would comprise 30 per cent of Chengdu's target.
Incentives, such as tax and human resources subsidies, are offered to attract businesses and enterprises to the zone in industries from IT to pharmaceutical, and manufacturing.