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People's Daily Online>>China Business

Chengdu tech park welcomes influx of firms

By Huang Zhiling (China Daily)

10:05, December 16, 2011

CHENGDU - Philips (China) Investment Co Ltd announced plans on Thursday to invest more than 25 million euros ($32 million) in the next four years to build a plant to make light-emitting diodes in the Chengdu High-tech Industrial Development Zone.

It was the latest in a stream of technological investment that has flown into this Southwestern Chinese city, once perhaps best known for panda bears and spicy cuisine.

"In the future, we will build a second regional headquarters and make more investments in the central and western regions," said Patrick Kung, chief executive officer of Philips Greater China.

Philips (China) Investment Co Ltd is the latest technological company to follow Intel Corp, a maker of computer chips and other components, which announced plans in August 2003 to invest $375 million to build a chip-assembly and testing plant in the Chengdu High-Tech Industrial Development Zone.

Intel continued to spend money there after its plant started production in September 2005. The same year, it announced plans to build a microprocessor-assembly and testing center and a state-of-the-art training and conference center at the site.

The expansion brought Intel's total investment in Chengdu to $525 million.

Seeing the success of that expansion, more technology companies have turned their eyes to Sichuan.

On Oct 17, Siemens AG, a giant electronic and electrical-engineering company, announced it had chosen the Chengdu high-tech zone as a base for automated manufacturing and research (R&D)and development.

When it begins operations in the first half of 2012, the base will be the third R&D center for the company's industrial automation business.

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