China's Latest Economic Policies Open Up New Growth Opportunities for Chengdu's Exhibition Industry

CHENGDU, China, March 13, 2015 /PRNewswire/ -- China's Central Economic Working Conference that had convened at the end of 2014 announced that the country's economy has entered what is being termed in Chinese as the "new normal," signifying that the Chinese economy has shifted gears from the previous high speed to medium-to-high-speed growth. With this in mind, the beginning of the year marks a new starting point for the city of Chengdu, which, in turn, opens up a host of new opportunities for Chengdu's conference and exhibition industry.

New moves for an exhibition economy

In the coming year, Chengdu's exhibition industry can look forward to seizing a new round of development opportunities, in line with the central government's program of reforms with a focus on taking a more market-oriented approach, enhancing further globalization by attracting more international events and standardizing the procedures, all of which will make Chengdu a destination well known to event organizers worldwide and create a favorable environment for the further development of the city's exhibition industry.

Chengdu Municipal Bureau of Exhibitions director general Mu Tao said, "Under the new normal, the exhibition industry is also undergoing profound changes. We must adapt ourselves to the new normal and seize new opportunities in order to achieve new milestones. As the next step, we will further transform the mode of development, facilitating the transformation of the exhibition industry from simply a focus on the quantitative to a focus on qualitative changes, allowing the exhibition economy to play a primary role in boosting the development of the city's and the region's industry and trade." In 2015, Chengdu will host several major exhibition events that will create platforms for boosting trade cooperation and attracting investment, including Airport Cities Asia Pacific 2015, the 92nd China Food and Drinks Fair, the 6^thAsia Pacific International Conference on Natural Gas Vehicles Association & Exhibition, the 3^rd World 3D Printing Technology Industry Conference & Exhibition, the 5^th International Festival of Intangible Cultural Heritage China, the 2015 China Fashion Fair, 2015 China International Logistics Week and the 10^th China-EU Investment, Trade and Sci-tech Cooperation Fair.

In line with the government's latest guidelines, Chengdu's exhibition industry will continue the shift to a market-driven one, with the government entities that habitually hosted events moving that responsibility into the hands of private enterprise. Last November, the Chengdu Council of the China Council for the Promotion of International Trade (CCPIT-Chengdu) (Bureau of Expositions) and Chengdu Exhibition Economics & Development Research Institute jointly issued a directive entitled Rating and Evaluation Principles on Qualifications of Chengdu Exhibition and Display Projects and Enterprises (DB 510100/T 136-2014). As China's second and the central region's first local standard for the exhibition industry, the directive will play a positive role in further regulating the behaviors of the city's exhibition and signage companies, improving their level of service, boosting employment and accelerating the branding and standardization of the companies operating in the sector.