Chengdu gains from Fortune Global Forum

People-oriented urbanization is one thing Chengdu can learn from the forum. Neighboring small cities like Deyang, Suiyang, Zigong, Leshan and Meishan have already benefited from Chengdu's spillover effects in development, but this has led to a gigantic urban conglomeration with a lot of pressing problems that need addressing.

Urbanization should be a process supported by sustainable growth that can create jobs and prosperity, rather than a fast way to stimulate GDP growth.

A sustainable and vigorous Chengdu should promote competition and cooperation with nearby big cities such as Chongqing, Guiyang and Kunming through the catfish effect. This would help Chengdu make breakthroughs in pursuing a new growth model. Competition among cities reshapes their industrial structures and reallocates the factors of production.

The government's role is another topic that will be raised during the forum. The central government is streamlining the administration system and delegating more power to society and the market as it seeks to concentrate on its role as a public service provider. The forum can help local officials reflect on their responsibilities.

Local officials and business leaders can also learn from the success of the technological and business elites from around the world attending the forum and learn ways to turn knowledge into economic and industrial muscle.

Having more than 20 universities, which are strong in electronics, telecommunications, finance studies, laws and human arts, Chengdu has special research and talent advantages that it can leverage in the country's bid to establish an innovation-driven economy.

The ideas, experiences and visions shared at the forum will provide food for thought for economic policymakers, government officials and entrepreneurs at a time when China's economy is slowing down and the future of the country hinges on successful economic restructuring and transformation.

The author is a writer with China Daily. E-mail: liyang@chinadaily.com.cn