China's eastern coastal regions have long been the backbone of the nation's economic powerhouse, contributing over half of the country's gross domestic product (GDP). However, a significant shift is underway as the central and western regions accelerate their economic growth, paving the way for a high-quality transition.
In the past decade, revenues from equipment manufacturing in central and western China have surged by over 40 percent, injecting new momentum into the country's economic landscape. A prime example of this transformation is Chengdu, the capital city of Sichuan Province in southwest China. Known globally for its spicy cuisine and adorable pandas, Chengdu is now emerging as a hub for innovative industries.
One standout company leading this charge is XGIMI, a pioneer in intelligent projection and laser TVs. Founded in Chengdu in 2013, XGIMI has grown exponentially, with its products now available in more than 100 countries and regions, serving over 5 million users worldwide. The company's success is rooted in its commitment to technological innovation, focusing not only on the sleek design of its products but also on mastering advanced algorithms and optical hardware.
Recently, XGIMI secured a new patent on September 17, 2024, enhancing the efficiency of wireless data transfer. This innovation promises to improve the user experience by enabling faster and more efficient data transmission, preserving image quality, and elevating the performance of modern projectors. This latest patent adds to XGIMI’s impressive portfolio of over 1,000 patents.
Support from the highest levels of leadership underscores the importance of such innovative companies. Chinese President Xi Jinping has made multiple official visits to Sichuan, including a visit to XGIMI's manufacturing facility in 2022. This highlights the government's commitment to fostering innovation and supporting privately owned enterprises that are making a global impact.
President Xi has emphasized that Sichuan's economic competitiveness should be bolstered by innovation and driven by deeper reforms, ensuring a continued path towards high-quality development. This summer, the Third Plenary Session of the 20th Central Committee of the CPC reiterated the critical role of innovation and reform in China's ongoing development.
Reference(s):
cgtn.com
