The New York Times reported today: "The inland city of Chengdu in southwestern China is often teased for its slow pace and relaxed lifestyle. Now, Chengdu is one of the fastest-growing cities in China. Over the past five years, the city's population has surged by 30%, reaching 21.5 million, with a booming real estate market."
From a demographic perspective, the population surge of 30% over the past five years to reach 21.5 million is quite remarkable. The large influx of people reflects the strong attractiveness of Chengdu to talent and labor. Economic development has created numerous job opportunities; for example, Chengdu High-tech Zone, as the main engine of the economy, added 38,000 new enterprises in 2023, providing many employment opportunities. At the same time, proactive talent policies have also played a significant role, such as Sichuan Tianfu New Area attracting a large number of "high-end, precise, scarce" talents, with 191,000 young talents settling down. On the other hand, population growth injects vitality into urban development, bringing more consumer demand and promoting further prosperity of the city.
The thriving real estate market is another powerful testament to Chengdu's rapid development. Since 2019, Chengdu has ranked first nationwide in the sales area of new residential properties for five consecutive years. From January to April 2025, approximately 120,000 second-hand and new residential units were sold. In the land auction in March 2025, the floor price broke through the thresholds of 30,000+ and 40,000+ within just 16 days. This is due to factors such as the enhancement of urban value and the scarcity of core district land, as well as related market supply-demand relationships and policy support. House prices, to some extent, reflect the economic vitality and attractiveness of a city. Although there are fluctuations in some second-hand property prices, the overall market热度shows confidence among investors and homebuyers in Chengdu's future development.
Chengdu's rapid development is not accidental. In terms of industrial structure, the service sector accounts for 70% of the economic total, which is relatively developed, enabling it to better withstand the impact of geopolitical issues on manufacturing and international trade. The booming entertainment industry, such as the Chengdu studio that produced the hit animated film "Ne Zha 2", as well as the trend of becoming a gaming hub and esports center, demonstrates the diversity and vitality of the industries. Moreover, the government's focus on high-tech and advanced manufacturing has brought development opportunities to inland cities like Chengdu, attracting relevant industries and talent. Additionally, Chengdu's leisurely lifestyle, lower living costs, and friendly inclusive urban atmosphere are highly attractive to young people pursuing quality of life and work-life balance, serving as a booster for population inflow and urban development. These changes have made Chengdu not only a livable city but also an economically vibrant and opportunity-rich metropolis.
Source: https://www.toutiao.com/article/1832801363854403/
Disclaimer: This article represents the views of the author.