Chengdu Expected to Achieve 8.21 Billion Yuan in Revenue Directly Generated from the Exhibition Sector for Full Year 2016
29 Aug, 2016, 14:13 BST
CHENGDU, China, Aug. 29, 2016 /PRNewswire/ -- Chengdu is scheduled to be the host city for more than 520 major exhibition events for the whole year of 2016. The China Council for the Promotion of International Trade Chengdu Sub-Council (CCPIT Chengdu), the organization responsible for the promotion of Chengdu as a city for conventions and exhibitions, has calculated that the total area occupied by all of the events, when added together, amounts to 3.3 million square meters. Revenue directly generated from the exhibition sector is anticipated to grow 10 per cent year on year to reach 8.21 billion yuan (approx. US$1.23 billion). Indirect revenue is also expected to grow by a similar percentage, with expectations that the combination of direct and indirect revenue will reach 69.7 billion yuan (approx. US$10.5 billion).
The third G20 Finance Ministers and Central Bank Governors Meeting in 2016 was held in Chengdu on July 23-24, the first time that the G20 meeting was held in Western China. Finance ministers and central bank governors from different countries as well as more than 900 representatives from international organizations including the World Bank, the International Monetary Fund gathered together to discuss global economic development.
The event put Chengdu in the international spotlight and provided an opportunity for Chengdu to display its advantages across the board: the city has huge economic growth potential, good environment for business start-ups and innovation, unique city charm, rich hosting experience in international conferences as well as proactive support from the local government.
As the hosting city for the 2013 Fortune Global Forum and the 12th World Chinese Entrepreneurs Convention, Chengdu achieved an important milestone in terms of the construction of exhibition facilities and the overall development of the sector. Now, Chengdu's hosting of a variety of major exhibition events has further expanded its influence on the world stage.
For the first six months of 2016, Chengdu continued to enhance its stature within the exhibition sector, with 276 major exhibitions and conferences held across the city, including 44 international events. The exhibition area occupied by all of the events added up to 1.745 million square meters, up 21.7 percent year on year, while total exhibition revenue reached RMB39.6 billion (approx. US$5.9 billion), up 12.4 percent year on year. The events brought in 46.03 million attendees, with contracts covering 888 projects valued at RMB416.7 billion (approx. US$62.5 billion) signed.
Looking forward, Chengdu's municipal government plans to actively target certain market segments for development, in a move to help local businesses enhance their strength and competitiveness. The city will put in place favorable policies that will serve to attract leading exhibition organizers from both China and abroad into setting up branches in Chengdu, also encourage them to choose Chengdu for the hosting of their events. In addition, Chengdu will select exhibition organizers from the most successful international exhibitions and organize delegations of local companies who will participate in these events.
SOURCE China Council For the Promotion of International Trade Chengdu Sub-council