Foreign companies finding Chengdu more 'open-door'

The decision to hold this year's 2013 Fortune Global Forum in Chengdu has piqued the interest of many foreign companies that had previously been shy about investing in the Sichuan capital.

"It is much more open-door than before," Yong Zhao, head of the British Chamber of Commerce in Chengdu, told British newspaper The Daily Telegraph.

"It does not have to be a joint venture any more. You have a local government that is more than willing to help. It is enthusiastic."

British investment in Chengdu has historically been small relative to that of France and Germany. "The truth is that the UK has been too cautious, and we have been left behind," Zhao said.

"China will get better if more British companies come in," she said. Zhao also noted that the increasing demand for finan-cial services, quality education and medical care have already created great opportunities for British companies.

Herve Lambelin, a representative of the French Chamber of Commerce in Chengdu, told an European news agency that local governments have shown a more active and open attitude toward foreign investment.

"Compared with coastal regions, the city government shows a more welcoming attitude and has offered many favorable policies," Lambelin said.

In Chengdu, foreign companies can gain access to local consumers without establishing a joint venture.

"At present, Chengdu still needs a large quantity of foreign capital to come in, and the timing couldn't be better for foreign businesses to make full use of local favorable policies to gain a foothold," Lambelin said.

It is easy to find quality employees that will work at a more competitive rate relative to coastal areas, he said.

Lately, more Chengdu natives who studied abroad are starting to come back to settle down and work.

Astrid Schroter at the German Chamber of Commerce in China said Chengdu will still continue to attract investment from multinational companies.

yangfeiyue@chinadaily.com.cn

(China Daily 06/05/2013 page18)