Caixin
Dec 23, 2019 10:35 AM

Promising Cooperation in New Economy among the People’s Republic of China, the Republic of Korea and Japan

The Trilateral Summit Meeting Will Kick off in the Most Suitable City for New Economic in China

The 8th Trilateral Summit Meeting among the People’s Republic of China, the Republic of Korea and Japan will be held in Chengdu, China on this 24th, during which the Outlook for the Cooperation among the People’s Republic of China, the Republic of Korea and Japan in the Next Decade will be issued. High level leaders of the three countries will put forward new cooperation initiatives and ideas in the sectors of technology innovation, cultivate more cooperation highlights and growth forces, and promote a deeper and further cooperation among the three countries. It is expected that new economic fields including electronic information and big data will become one of the priorities in the future development directions. By complementing each other's advantages, the three countries shall have a promising prospect for cooperation.

It is worth attention that Chengdu is a vital junction of China's “Belt and Road Initiative” and Yangtze River Economic Belt. As the pioneer city in China which proposed the development of new economy, the growth rate of GDP in Chengdu has been exceeding 8% in 11 consecutive quarters since 2017, the number of new economic enterprises has reached 350,000 with an average annual increase of nearly 50,000, among which 6 enterprises have reached the unicorn standard and 67 enterprises have reached the quasi-unicorn standard. The annual financing volume of new economy enterprises has increased more than three times, from 4 billion yuan to 17 billion yuan. Chengdu has become the "most suitable city for new economic development" with its new economic vitality index ranking third in China.

Chengdu attracts many talents of electronic information and big data, according to a research report released today. The report reveals a key reason of Chengdu's long-term economic stability: Chengdu enjoys an inclusive and open business environment and attractive talent policy, which contributes to the vigorous development of new economy with new jobs springing up and a large number of talents pouring into Chengdu.

The 8th Trilateral Summit Meeting among the People’s Republic of China, the Republic of Korea and Japan is of great significance to the prosperity and stability of East Asia economy and even the world economy, and will also help boost global economic confidence and create bright prospects for new growth of the world economy.

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