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Chengdu Hi-tech Zone to invest US$730 million by 2020 to attract global talents

Adrian M. Reodique | Feb. 10, 2017
The zone will reinforce its cooperation with global innovation hubs such as the Silicon Valley, Tel Aviv, and Sophie Antipolis.

Chengdu Hi-tech Zone, hailed as the Silicon Valley of western China, will be investing approximately US$730 million from now to the end of 2020 in a bid to recruit global talents.

The zone will also inject another US$1.46 billion to increase the competitiveness of its scientific and technological innovation system.

Spurred by the Chinese economy's long-term and sustained growth and China's continuous increase in investment in high and new technology segment, a rising amount of international talent is flocking to the central cities of China.

Besides that, the level of development of Chengdu Hi-tech Zone stands shoulder to shoulder with those in the Chinese coastal region. According the latest data, Chengdu Hi-tech Zone has GDP per capita exceeding US$30,000 in 2016. It has also attracted a total of 12,700 science and technology companies and an accumulated 83,000 companies, of which more than a thousand are foreign funded enterprises and 115 are Fortune Global 500 companies. 

According to Gan Lijun, in charge of the human resources department at Chengdu Hi-tech Zone, the zone this year will continue to strengthen its cooperation with global innovation hubs such as the Silicon Valley, Tel Aviv, and Sophie Antipolis.

In particular, the zone will boost its efforts to establish an offshore overseas talent base, create mass entrepreneurship spaces and offshore incubators with overseas pre-incubation functionality, and strengthen exchanges with international educational institutions like Harvard University and Stanford University.  The move aims to "emphatically promote reform on the science and technology supply side and attract talent from across the globe," said Gan.

As part of its efforts to support the growth of new economies, the Chinese central government has upgraded the city of Chengdu to the status of 'national central city' and tasked it to become the 'science and technology centre of western China'. The Chengdu Hi-tech Zone is key to enabling the city to realise that vision.  

 

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