Innovative enterprises flock to Chengdu

Relaxed and open environment proves pivotal incentive for high-tech businesses

With inclusiveness and innovation as part of its character, Chengdu is embracing enormous development opportunities.

As a shining star among the "new first-tier" cities, the capital of Sichuan province has become a magnet for entrepreneurs, with a slew of innovative businesses and cutting-edge research achievements emerging.

Among the innovations is a rollable concept smartphone, which was displayed by cellphone manufacturer Oppo at the Mobile World Congress in Shanghai in late February. It was developed in cooperation with XpowerIt Tech, a high-tech company based in Chengdu Hi-Tech Industrial Development Zone.

Adopting RiCharge wireless air charging technology provided by XpowerIt Tech, the innovative phone can be charged even after it is taken up to some 10 centimeters away from the charging pad. It is expected to be one of the earliest with the technological feature to realize mass production, industry insiders said.

In other cases, RiCharge enables wireless charging up to around 50 cm away from the central hub. With a relay added, the range can be extended to around 1 meter, according to XpowerIt Tech.

In addition to charging smartphones, the technology can also be applied to wearable devices such as wireless headsets and smartbands, according to Ouyang Qinghan, deputy general manager of the company.

XpowerIt Tech is a technological solution provider specializing in mid-and long-range wireless power transfer. It focuses on the fields of consumer electronics and industrial equipment. Its targeted markets include industrial manufacturing, intelligent home fixtures and fittings, smart wearable devices, intelligent transport and medical equipment, the deputy general manager said.

Five years ago, the company's founders returned from overseas to China to start their business. They chose Chengdu as their business headquarters because of the city's entrepreneur-friendly environment and policies. In the first year the company settled in the city's high-tech industrial zone, it received government financial support.

Chengdu has been developing a new economy in recent years, providing a new engine for the city's growth. That gave a host of opportunities to innovation-driven businesses in the city, Ouyang said.

"Chengdu gives entrepreneurs a strong sense of belonging," he said. "The city is attracting a growing number of professionals from other regions, who have become new-generation Chengdu residents."

In addition to a boom in innovation in recent years, the changes also include improvement in the surroundings where residents live. With Chengdu's park city initiative advancing, residents' satisfaction of working and living improved, he added.

Another typical innovative company based in Chengdu, Jouav, was listed on the Science and Technology Innovation Board on the Shanghai Stock Exchange on Feb 10, raising more than 507 million yuan ($78.4 million), and becoming the country's first publicly traded business focusing on unmanned aircraft systems.

The fund will be spent on manufacturing and research and development facilities to expand the company's production of industrial unmanned aerial vehicles, optimize its product portfolio and improve its R&D and innovation capacities, according to the company.

Jouav developed its first vertical takeoff and landing UAV in Chengdu in 2015.

The company has accumulated expertise and comprehensive strength in flight control and avionics, design and the manufacture of aircraft platforms, and integration, taking up more than 50 percent of the market share in its market segments. Its distribution and service network has reached more than 1,300 clients, covering businesses, institutions and research centers in the fields of geomatics and spatial information technology, inspection, security monitoring and emergency response.

"Innovation in UAV products and technologies requires concentrated efforts, craftsmanship and long-term accumulation of data," said Ren Bin, founder and CEO of Jouav. "Chengdu has an established aviation industry foundation and the city's openness and inclusiveness are conducive to the development of the industrial UAV sector."

The city's business environment satisfies sci-tech companies' needs for innovation resources along the industrial chain, Ren noted.

Jouav received government support via a series of policies, ranging from land use and professional recruitment to project construction, he added.

Spurred on by new technologies including 5G, artificial intelligence and big data, the company will immerse itself into the market segment of industrial UAVs and explore more application scenarios. It is committed to becoming a world-leading industrial UAV system and service provider, according to the CEO.

There are many more innovative businesses like XpowerIt Tech and Jouav.

Government data shows that in 2020, the number of new business incubators in Chengdu reached 62, and more than 6,000 enterprises were involved in the high-tech industry, which generated over 1 trillion yuan ($154.7 billion) in combined business revenue.

Behind the flourishing high-tech businesses are Chengdu's openness, favorable policies and convenient services. In recent years, nearly 420,000 young people who have a bachelor's degree or above have come to Chengdu for work.

In 2010, it was recognized as one of the most appealing Chinese cities in the eyes of foreigners, according to survey findings released by the Foreign Talent Research Center affiliated with the Ministry of Industry and Information Technology.

In the same year, Chengdu was also listed as one of the most favored cities by computer programmers in China and among the most attractive Chinese cities in terms of career prospects and living conditions, local media reported.

The authorities will initiate a program to encourage young people to innovate and start their businesses during the 14th Five-Year Plan period (2021-25), according to the city's development plan.

In the plan, Chengdu will prioritize fostering and attracting professionals, and increase efforts to create a business environment that is friendly to young entrepreneurs and innovators, local officials said.