Chengdu: China’s Silicon Valley
Currently producing roughly one fifth of all computers in the world, Chengdu remains to be one of China’s best kept secrets. The city continues to be sporadically acknowledged in the same breath as the country’s other manufacturing hubs of Shenzhen and Guangzhou, yet has been growing at a faster rate for the past 5 years than any other major city center in China. Now specializing in high tech commodities, Chengdu is poised to become China’s own response to America’s Silicon Valley. With a combination of government support and a fertile business environment, the city’s high tech aspirations are centered on the Tianfu High Tech Industrial Park.
Beginning back in 2001 when Intel opened up one of the largest chip assembly and testing plants in the world, Chengdu has zipped past its once humble agriculture origins into the 21st century, managing to attract the likes of Texas Instrument, Motorola, Foxconn, and many others into the region. Through a combination of favourable corporate taxes and the offering of highly subsidized office spaces for domestic firms, the city’s IT field has managed to grow at a dazzling 40% per year. Providing both the infrastructure and human capital desired by international corporations, opportunity is abound in the city once known as “the Country of Heaven”. Once producing crops for the nation, Chengdu now has positioned itself to be the country’s main tech hub. Home to some of China’s best and brightest tech universities, the city’s potential appears to be limitless in the coming years!