When the film Kung Fu Panda hit the market last year, the city of Chengdu, the main character's birthplace, suddenly became a household name throughout the world.

This world-renowned city participates annually in the China International Fair for Investment and Trade.

Next year, the Fortune Global Forum will be held in the sparkling southwestern city, capital of Sichuan province.

Chengdu's potential was further illustrated by renowned Chinese economist Mao Yushi, who said: "Costs in coastal areas have risen significantly, so economic centers have moved to central and western areas in China like Chengdu".

Statistics indicate that Chengdu has attracted more than 210 of the Fortune 500 companies to set up operations there. The city's actually utilized investment and trade value rank the highest in western China.

In 2011, the city's GDP hit 685.4 billion yuan; fixed-asset investment, 500.6 billion yuan, and tax revenue, 227 billion yuan. Over the past 10 years, its economic volume indices all ranked on top of the 12 capital cities in western China.

Wang Zhile, researcher of the Chinese Academy of International Trade and Economic Cooperation, said the influence of the Fortune Global Forum has boosted the image of its host cities in past years.

"Chengdu's development trend represents the country's pace because both are pushing to 'go global' and drive domestic markets along its road to turn rapid growth into sustainable development," he said.

Andy Serwer, Fortune magazine's managing editor, noted: "At a time when China is in the forefront of global business, Chengdu is the ideal location for the next Fortune Global Forum."

"Situated in the heart of China's rapidly growing western region, Chengdu has become a dynamic magnet for multinational companies, a center for higher education, and a leader in a diverse range of industries, from automotive and logistics to technology and services."

Contact the writers at liyu@chinadaily.com.cn and yangcheng@chinadaily.com.cn

(China Daily 09/10/2012 page8)