China’s economic landscape is witnessing a dynamic shift as central and western regions accelerate towards high-quality development. Traditionally, the eastern coastal areas have been the powerhouse of the Chinese mainland’s growth, contributing over half of the country’s gross domestic product (GDP). However, the inland provinces are now emerging as new engines of economic vitality.
Over the past decade, revenues from equipment manufacturing in central and western China have surged by over 40 percent. This remarkable growth is fueling the country’s transition towards high-quality development, characterized by innovation and technological advancement.
Chengdu, the capital city of Sichuan Province in southwest China, exemplifies this transformation. Known for its spicy cuisine and the beloved giant pandas, Chengdu is also becoming a hub for emerging industries and technological innovation.
One of the city’s success stories is XGIMI, a company specializing in intelligent projectors and laser TVs. Founded in 2013, XGIMI has rapidly expanded its reach, with products now available in over 100 countries and regions, serving more than 5 million users worldwide. The company’s ascent underscores the region’s growing influence in the technology sector.
Technological innovation lies at the heart of XGIMI’s success. Beyond sleek designs, the company has mastered advanced algorithms and optical hardware, securing over 1,000 patents. On September 17, 2024, XGIMI obtained a new patent that enables more efficient wireless data transfer. This breakthrough promises to enhance user experiences by facilitating faster and more reliable data transmission, crucial in an era dominated by 5G and wireless connectivity.
The rise of companies like XGIMI reflects the strong support from China’s leadership for innovation-driven growth in the western regions. Chinese President Xi Jinping has made official visits to Sichuan in 2018 and 2022, highlighting the importance of the province in the nation’s development agenda. During his visit in 2022, President Xi toured XGIMI’s manufacturing facility, demonstrating commitment to fostering private enterprises that are competitive on a global scale.
President Xi has emphasized that Sichuan’s economic competitiveness should be enhanced through innovation and stimulated by deepening reforms to pursue high-quality development. This vision aligns with the outcomes of the Third Plenary Session of the 20th Central Committee of the Communist Party of China, which underscored the pivotal role of innovation and reform in the country’s progress.
As central and western China continue to invest in technology and innovation, regions like Chengdu are poised to contribute significantly to China’s sustainable economic growth. The synergy between government support and private enterprise innovation is creating a fertile ground for new industries to thrive, signaling a promising future for the nation’s inland provinces.
Reference(s):
cgtn.com
