Chengdu Residential

Asian Cities

2H 2017

 

City overview
Chengdu, the capital of Sichuan province, is China’s western economic centre. Benefitting from central government’s “Go West” policy launched in 2000, the city’s economy expanded greatly despite seeing a slowdown due to the global financial crisis and the Wenchuan Earthquake in 2008. Economic growth recovered thereafter then slowed in response to the nationwide economic slowdown from 2013 to 2015. Chengdu’s GDP increased by 8.2% year-on-year (YoY) to RMB611.1 billion in Q2/2017, 1.3 percentage points (ppts) higher than the national average. Meanwhile fixed asset investment (FAI) increased by 14.8% YoY to RMB480.4 billion. Investment in real estate development showed a moderate increase of 2.2% YoY to RMB135.5 billion.

Policies
One of the primary goals of the 2015 Central Economic Working Conference was the “destocking of real estate”, consequently, a series of preferential policies was announced in 2016 to boost demand.

 
 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

kamaco Two Exchange Square

+852 2842 4573

 

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