Strongest turnout in history expected for forum

One of the benefits that the Fortune Global Forum brings to Chengdu comes in the form of substantial improvement to city infrastructure. Provided to China Daily

Attendance of top CEOs, officials, heads of state confirmed, Yang Feiyue reports

More than 600 participants have confirmed their attendance at the 2013 Fortune Global Forum, said Wu Hongjian, a senior official of the State Council Information Office, on May 30.

Wu said President Xi Jinping will send his regards to the forum, which is to be held from June 6 to 8 in Chengdu, Sichuan province, and Premier Li Keqiang will hold a discussion session with some of the forum's participants in Beijing.

In addition, Vice-Premier Zhang Gaoli will deliver a keynote speech at the forum, Wu said.

The 2013 Fortune Global Forum has reached full capacity, and this year is shaping up to be the strongest turnout in the event's history, said Andy Serwer, managing editor of Fortune.

Participants will include the CEOs of many Fortune Global 500 companies and other business leaders as well as former government officials, heads of state and economic experts. Many are drawn to the event by China's rising influence and rapid development.

More and more Chinese companies are on the Fortune 500. There were 76 Chinese companies on the 2012 list, whereas there were only 10 in 1999, Serwer said.

"The list for 2013 won't come out until a few weeks later, but the number of Chinese Fortune Global 500 companies is expected to surpass 76," Serwer said.

Major issues

This year, the forum will focus on such issues as sustainable development, technological innovation, the global financial crisis and economic recovery, Serwer said. It will also help to draw more global attention to China, he said.

The forum has helped boost Chengdu's economic strength as the city gears itself up to host the event, city officials said.

According to the city government, Chengdu has upgraded its transportation and logistics systems over the past year.

The city has expanded its connections with Europe and other parts of the world over land and in the air, including a freight railway that ends in Lodz, Poland.

At present, the Chengdu Shuangliu International Airport is serving 58 international airlines, making the city China's fourth-largest international aviation hub.

Moreover, Chengdu is going to announce the opening of a non-stop flight to San Francisco during the Fortune Forum, officials said.

The improved public infrastructure has made Chengdu the most popular investment destination in western China. Its actually utilized foreign capital in 2012 totaled $8.59 billion, ranking the highest among all cities in western China.

There are 31 Fortune Global 500 companies that have set up operations in Chengdu since 2012, bringing the total number up to 238 and greatly boosting the city's economic development.

Growing strength

Chengdu's GDP last year totaled nearly 814 billion yuan ($130 billion), making the inland city the third-largest economy among China's provincial capitals or similarly sized cities.

It was only 390.1 billion yuan in 2008, the year when the world slipped into financial crisis.

But Chengdu managed to achieve rapid economic expansion annually over the past five years despite global economic turmoil and slower growth nationwide.

The city's total trade volume with foreign countries reached $47.54 billion in 2012, up 25.5 percent compared to the year before.

Per capita disposable income rose 13.6 percent to 27,194 yuan, outpacing inflation, which was 3 percent last year, according to official figures.

The gap between rural and urban incomes has also narrowed gradually in the last decade. Rural incomes were at 37.6 percent the level of urban incomes in 2002, and by last year, that figure had risen to 41.5 percent.

Roughly 35 percent of Chengdu's 14 million residents are rural, and their average net income per capita grew by 14.1 percent to 11,301 yuan in 2012.

The local authorities have also pushed ahead with many public welfare projects, such as free bus rides and more than 50,000 government-subsidized apartments.

"We will use the Fortune Forum as an opportunity to upgrade our social conditions, enhance environmental protection, improve public education and make the city more modernized," said a government official.

Contact the writer through yangfeiyue@chinadaily.com.cn