China's emerging western region has become increasingly attractive to global investors, with money flowing into high-end industries rather than old factories that might have been relocated from coastal areas, the mayor of Chengdu said on Thursday.
President Xi Jinping promised to protect the lawful rights and interests of investors as hundreds of businessmen gathered in the western city of Chengdu.
China will maintain stable and healthy economic growth and accelerate opening-up to solve problems that hinder development, Vice-Premier Zhang Gaoli said.
PC giant Dell launched its new global operations site in Chengdu, capital of Southwest China's Sichuan province, on Thursday.
This is the fourth time that the Fortune Global Forum has set up stage in China, after Shanghai (1999), Hong Kong (2001) and Beijing (2005). Fortune's choices offer a clue on how the world's attention quietly shifted to China.
China's economy will become twice as big as that of the United States and larger than both the US and the EU combined within just 17 years.
Chinese Premier Li Keqiang called on multinational companies to seize opportunities arising from China's economic restructuring.
Chengdu will allow visitors from 45 countries, who have a third country visa and valid air ticket, to stay visa-free for 72 hours.
Volvo's participation in the forum will be greater than that of other car companies that had previously partnered with the event's organizing committee.
"Our vision is to integrate the city with the world and let the world know Chengdu. We'll try our best to facilitate the forum's ‘Fortune effect' and ‘a(chǎn)mplifying effect', and lift the international level of the city to a new high," Huang Xinchu, Party chief of Chengdu said.
Chengdu's growth is a crucial part of China's transition from an export-oriented economy to one based on consumption and knowledge, economists in Europe said.
Chinese consumption, largely driven by the middle class, will account for $6.2 trillion, just under a quarter of the $26 trillion of additional global consumption.
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