Expo 2024 Chengdu Main Venue Photo: Courtesy of Chengdu Eastern New Area

As a Sichuan Airlines flight made its maiden journey from Chengdu to Madrid on April 27, this new route - connecting China's southwestern region to the Iberian Peninsula - became a significant milestone for the Chengdu Eastern New Area, an outstanding example of urban redevelopment in China.

As the forefront of Chengdu's international gateway hub, the new area has capitalized on the Chengdu Tianfu International Airport over the past five years. It continues to deepen industry-finance collaboration and refine its international business environment, transforming from an inland region into a magnet for foreign investment and a new hub for global connectivity.

Tech-driven development 

The takeoff and landing data of the airport reflects the accelerating global connectivity driven by the new area. With the launch of the Chengdu-Madrid air route, the new area has entered a new phase of development in its multimodal transport system, integrating freighter aircraft, passenger aircraft belly cargo, and trucking services.

Official data from the new area shows that the number of foreign trade companies has surged from two to 28 since its establishment five years ago, with total trade volume skyrocketing from 626 million yuan ($86.87 million) to 4.06 billion yuan. Retail sales have climbed to 2.36 billion yuan, underscoring the Air Silk Road's spillover effects.

Currently, the new area has seen a 40 percent year-on-year increase in registered market entities and an 86 percent growth in registered capital compared to its initial establishment period. The area has consistently upheld a regulatory approach that balances "strength" with "compassion" - effectively safeguarding normal business operations while ­maintaining a business-friendly environment.

This new area also exemplifies the deep integration of smart logistics and digital trade. The local smart bureau has built an e-query platform powered by DeepSeek's AI model, which delivers a 98 percent instant-response rate for high-frequency queries while slashing cross-border filing time by 80 percent.

In addition, e-commerce firms can now receive e-licenses within hours of submission, enabling faster responses to European orders. Meanwhile, the one-stop service center has assisted 1,010 enterprises, resolved 2,510 issues, and helped businesses cut costs by 16 million yuan - factors that have attracted more multinationals to establish regional headquarters in the new area.

The globalization of the innovation ecosystem is reshaping the pace of global tech collaboration through "China's innovation speed." Currently, 27 innovation platforms serve as a ­transnational technology transfer hub, while local official data shows that the incubation program has nurtured 48 high-tech enterprises to date, facilitating their participation in 76 government-funded science projects with secured funding totaling 80.7 million yuan.

In the field of intellectual property, the new area has established a comprehensive service system and implemented a patent fast-track "green channel," reducing invention patent authorization cycles to just three months.

A view of the Chengdu Eastern New Area Photo: Courtesy of Chengdu Eastern New Area

Integration of finance and industry

A deep integration of finance and industry is injecting strong momentum into the new area's economic development.

On March 27, the Chengdu Jiaozi Zhongying Fund was officially launched as Sichuan's first national-level sci-tech innovation co-development mother fund. With a total scale of 5 billion yuan, it has established an innovative model combining bank capital, local state-owned capital, and private capital.

Official data shows that the new area is now home to 25 financial ­institutions and 91 market entities, ­spanning banks, insurance companies, funds, and financial holding companies. By the end of 2024, bank deposits reached 55.47 billion yuan, a 114.04 percent increase from the beginning, while loans surged to 49.46 billion yuan, marking an 865 percent growth.

The deep integration of finance and industry is particularly evident in the automotive supply chain. Within the specialized industrial park, an auto parts production line with an annual capacity of 60,000 units operates around the clock, directly supplying international automakers like Geely and Hyundai. Supporting this industrial network is the new area's comprehensive financial service ecosystem, which channels patient capital into technology innovation through partnerships with five state-owned banks and multiple insurance institutions.

Improved business environment  

The new area has been continuously optimizing business services and improving the business environment through innovative measures. For instance, the service station for the Jiajia industrial park has significantly reduced corporate time and labor costs through decentralized services and ­on-site support. The official operation of the specialized industrial park has further boosted the area's industrial upgrading, supplying products to renowned ­enterprises like Chengdu Dayun Automobile and Sichuan Hyundai Motor with an annual output value of approximately 70 million yuan.

Furthermore, the new area is enhancing smart development. On March 8, the area officially launched the e-query platform - an intelligent government Q&A platform powered by DeepSeek's AI model, creating a 24/7 smart service system. The platform resolves complex issues like business registration inquiries within two minutes, representing a tenfold efficiency improvement over traditional hotline services.

Regarding intellectual property protection, the sub-center has added 15 new IP public service items, offering 46 IP consultation services across eight categories for local enterprises and innovators. These initiatives not only enhance corporate innovation capabilities but also provide robust support for high-quality business development.

As more partners join its global network, this young area demonstrates the growing openness of China's inland regions. Through continued expansion of its international connections, the new area is advancing steadily along the path of high-quality development.