From AFP, via ABS-CBN Interactive (thanks to Peking Duck):
Cheap labor and lower start-up costs are luring foreign companies to Chengdu, helping to revitalize an ancient city in western China determined to close the gap with the more prosperous east.
Chengdu, China’s western cultural and economic capital for centuries, has engineered a partial revival by raking in record foreign investment over the last six years, and vaunts the presence of 78 blue-chip companies.
Motorola, IBM, Intel, Coca Cola and Toyota have led the charge of top brands that together have poured hundreds of millions in new factories, with Swedish retail giant Ikea and German software giant SAP set to be the newest arrivals. [Full text]
