New policies to boost Chengdu's service industry

Chengdu has carried out three policies continuously to promote the development of its high-end service sector, according to a press conference held by the Information Office of Chengdu on Jan 16.

The city will develop 8 high-end service industries, including financial service industry, science and technology service industry and information service industry, said Zhang Jinquan, vice director of the Chengdu Municipal Bureau of Commerce.

Chengdu also formulated six measures to attract transnational corporations to set up headquarters in the city.

"The finaicial reward given to an enterprise that establishes its headquarter in Chengdu can measure up to 500 billion yuan ($ 82.6 billion)," Zhang said.

In addition, the city will take a package of measures to finance and subsidize the commerial real estate economy.

Designated by the State Council as the commercial and trade center in Southwest China, Chengdu provides direct services to over 100 million population.

"The development of service sector will help Chengdu build itself from a regional hub into an economic engine in western China," Zhang said.

Statistics show the added value of Chengdu's service sector in 2013 may reach 452 billion yuan in 2013, up over 8.5%. The e-business sales volume in 2013 may surpass 400 billion yuan.