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Viewing report
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Chengdu Economic and Technological Development Zone
China Knowledge Press, June 2011, Pages: 25
Chengdu Economic and Technological Development Zone (Chengdu ETDZ) rated “A” by China Knowledge in a research report published today. The area was established in July 1990 and approved by the State Council in February 2000 as a state-level development zone.
The zone is located in the Longquanyi district 12.5 km from Chengdu’s downtown area. This zone has a well-developed transportation network. It is 14.5 km away from Hong’an Railway Station and 28 km from Shuangliu International Airport, which ranked sixth in terms of passenger and freight throughput in 2009. The Chengdu-Chongqing and Chengdu-Nanchong expressways run through the zone from east to west.
In 2009, Chengdu ETDZ’s GDP was RMB 26.89 billion, reflecting an increase of 22.95% year on year, accounting for 6% of the city’s total. The value-added industrial output of the park amounted to RMB 15.48 billion, up 30.51% year on year. The zone’s pillar industries are automobiles and auto parts, machinery, electronic information, new building materials, pharmaceuticals and food processing.
Representative enterprises include FAW-Toyota Motor, FAW-Volkswagen Motor Geely Motor, Japan’s Cobelco Construction Machinery, Germany’s Herrenknecht and BHP.
The automobile industry is the most important industry. Chengdu will produce an estimated 500,000 cars per year by 2012 and 800,000 per year by 2017. Sichuan FAW Toyota Motor Co Ltd (SFTM), a joint vehicle production company established by Toyota and China FAW Group Corp in China in 2005, has an overall annual production capacity of 23,000 units.
In 2008, it invested RMB 3.6 billion in building a new factory. Upon completion of the new factory in 2010, SFTM is expected to have an increased annual production capacity of 30,000 units.
FAW-Volkswagen Motor Co Ltd, a joint company established by Volkswagen and FAW, started the construction of a EUR550-million vehicle plant in Chengdu ETDZ in May 2009. The output capacity of this plant will initially be 150,000 vehicles per year but will grow to 350,000. It will generate an estimated RMB 40 billion in annual sales revenue when complete.
In addition to the automobile industry, there are about 200 machinery and electronic enterprises located in or around Chengdu ETDZ. Building an automobile industrial chain is an important development goal of the zone. Currently, the zone has six automakers, and a large number of standard workshops for auto parts are under construction.
In 2009, the utilized FDI of the zone reached US$251 million, accounting for 9% of Chengdu’s total. The total export value of the zone amounted to US$223 million, rising 29.74% year on year and accounting for 2% of the city’s total.
The latest figures show the first half of 2010, the export value rose 33.59% to US$176.48 million. In the first three quarters of 2010, value-added industrial output of the zone amounted to RMB 18.9 billion, up 77.03% year on year, while the gloss industrial output hit RMB 46.26 billion, increased by 64.22%. The utilized FDI fell 68.56% to US$78.86 million.
Industrial parks rated A have above-average investor appeal. Basic conditions are adequate, but improvements are still needed in some areas. There are 50 single A rated industrial parks among 254 rated by China Knowledge since 2003. This class of industrial parks that are mainly found in the Northeastern, Western and Central China, benefits from these regions’ lower labor cost.
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