Tianfu New Area a New Draw in Southwest China

Tianfu New Area in Sichuan province is shaping up to be a major economic driver in southwestern China, attracting the interest of AmCham China members. Encompassing the cities of Chengdu, Meishan and Ziyang, Tianfu New Area was approved in October last year and will focus on manufacturing, high technology, and modern service industries.

To explore the possibilities, AmCham China arranged a member delegation that attended a promotional event for the development zone Jan. 22-23, including a private roundtable with Sichuan Vice Governor Wang Ning. The delegation also heard Governor Wei Hong present the comparative advantages and supporting policies in detail, including financial, taxation, land, investment approval, pricing, and talent attraction.

Akamai, Carlyle, Oshkosh and Terex were among those who joined the delegation. Jack Ou, Project Manager of Government Relations and Market Development for Terex, said: ‘Since Tianfu New Area is located south Chengdu and covers more than 1,000 square kilometers, its catchment area includes more than 240 million people. Some stated-owned enterprises, such as CITIC, CRCC, CREC, have already entered and we can see the great potential in this new area.”

Tianfu New Area is the 11th national level New Area approved by the State Council. The GDP of Sichuan province ranked 8th in China in 2014, with Chengdu making up one-third of the total. In terms of foreign investment utilization, Sichuan is the No. 1 in central and western China. Chengdu will also become the third Chinese city with two airports after Beijing and Shanghai, with the new airport located in Tianfu New Area.