Chengdu ranks first in financial competitiveness in Western China, according to the third CDI China Financial Center Index report released by the Shenzhen Comprehensive Development Research Institute, an independent research advisory body.

The report evaluated 29 Chinese cities in terms of its financial competitiveness. Chengdu rises had risen from19th to 9th in the rankings since the second report of 2010, which represents the biggest jump for all cities in the country.

Rising comprehensive competitiveness

According to the index, Chengdu, Chongqing, Xi’an and Kunming are considered the four regional financial centers in Western China.

The city has boosted its financial industrial performance and financial institution strength. It maintains an excellent financial ecological environment. Chengdu is the only city in Western China to rank in the top 10 list.

Adhering to the outline of the West China Financial Center Construction Program (2010—2012), the plan developed Chengdu into a regional financial center and a key hub for the western region.

Chengdu has outlined functional zones, promoted resources gathering and accelerated financial innovations.

Competitive specialized services

The external environment for the local sector is coined as the financial ecological environment. The index interprets the financial competitiveness of a city, which consists of hiring talented people and its business atmosphere.

In terms of the financial talent environment, Chengdu ranks above average in the education field in Western China. The city has four universities recognized under the 211 Program.

In regards to its business environment, Chengdu ranks first in the western region.

Chengdu maintains the highest per capita GDP, local CPA professionals, insurance agencies, endowment insurance coverage, medical insurance coverage, along with total imports and exports volume in Western China.

Chengdu holds advantages in its specialized services. By 2009, Chengdu could boast of the largest number of practicing lawyers and certified public accountants in the region .