CHENGDU, China--(BUSINESS WIRE)--Chengdu has long had an international reputation as a highly livable city. In recent years, Chengdu has also cultivated a business-friendly environment aligned with international standards, making the city fertile soil for enterprise development, especially in the tech sector. XGIMI Technology, a Chengdu-based leading provider of multi-functional smart projectors and laser TVs in China, attributed part of its success to Chengdu’s favorable environment, helping the firm to grow and in 2018 surpass global giants Epson and Sony in the Chinese projector market for the first time.
According to data on China’s projector market in the first half of 2020 released by IDC, XGIMI ranked first in terms of shipments and sales, with a market share of 22%. Five XGMI models feature in the top ten projectors by shipments and sales.
Zhong Bo, Chairman of XGIMI Technology, first embarked on the road to become an entrepreneur with a mission to “create a business that changes the world.” Born and raised in Sichuan province, when Zhong established XGIMI Technology in 2013, he chose Chengdu as its home.
“Chengdu has three major advantages. First, Chengdu is positioned as an international city in western China and offers a business environment conducive to enterprise development. Second, the city’s high concentration of universities aids talent recruitment. The third advantage is Chengdu’s highly developed manufacturing sector, especially in the IT hardware sector.”
Chengdu High-tech Zone (CDHT) where XGIMI Technology is based is a hotspot for innovation in the city. Since XGIMI was established in CDHT’s Tianfu Software Park, the company has received considerable support, including rent reduction, favorable policies, and publicity.
Zhong says Chengdu offers a great environment for entrepreneurship, which has given birth to waves of new businesses that are highly competitive and innovative. “Chengdu’s entrepreneurial environment is the first attraction for young people seeking to start a business, as one can find many like-minded partners here. Secondly, the city offers favorable policies for entrepreneurship, drawing young people to Chengdu to realize their dreams.”
Zhong says that Chengdu’s business environment has continued to get better and better since he launched his company. The city is also striving to improve enterprise-oriented services across the business lifecycle and internationalize standards. By making Chengdu more convenient for business and employee’s everyday lives, the city has become a hotbed for entrepreneurship, especially in high-tech fields.
As XGMI continues its journey, the city it calls home is also accelerating its march to become a truly global city, empowering enterprises, and serving as a springboard to tap new markets and deploy resources around the world. For Chengdu and the companies based in this thriving city, a bright global future awaits.