Forum to be boon for IT sector in host city

Intel displays its chip expertise at an electronic information expo in Chengdu. The selection of the city to host the 2013 Fortune Global Forum is expected to create many opportunities for local IT enterprises. Provided to China Daily

The electronic information industry is likely to be the first to see a windfall from the Fortune Global Forum, said Xiang Qihan, CEO of Yonyou Software Co Ltd, a major producer of management software in the Asian-Pacific region.

"I believe the forum will help more and more financial giants get to know Chengdu and provide stronger momentum to the electronic information industry in the city," Xiang said.

At present, the industry has reached an advanced level in Chengdu, and it is currently the eighth largest in scale nationwide. The city's IT enterprises collectively ranked fourth in tax contribution among comparable industrial clusters in other cities and sixth in investment value.

More than 20 manufacturers of IT products have formed a cluster in Chengdu's High-Tech Comprehensive Bonded Zone, including Foxconn, Intel, Dell and Lenovo.

Local enterprises have adjusted their product mix and sharpened their competitiveness to make inroads into the international market, which has led to rapid growth in total foreign trade.

Investment is flowing both ways. Intel dedicated more than $600 million to building one of the largest chip-packaging and testing centers on the planet. One out of every two computers around the world has a chip made in Chengdu.

According to official statistics, electronic information processing and trade business has become a major driving force behind export growth in Sichuan province.

In 2012, the export volume of Chengdu's high-tech zone hit $15.57 billion, an annual increase of 59.9 percent that accounted for 62 percent of Sichuan's total foreign trade growth for the year.

The coming decade create great opportunities for Chengdu since it is a crucial period in the nation's western development strategy, said Li Guangjin, vice-chairman of the Sichuan Federation of Industry and Commerce.

It is necessary to use the forum to attract more investment from outside to Chengdu if the city wants to promote its global image and influence, Li said.

He stressed that companies should capitalize on the forum to promote their brands, learn about new innovations and advanced management strategies, and find the technology or talent they need.

"There are bound to be new challenges to our existing management concepts or mode when large multinationals move in, but we should stay positive and learn from them to better prepare ourselves for going global," Li said.

yangfeiyue@chinadaily.com.cn