By Mikkel Larsen, Yiling Wang, iChongqing
Chongqing sits at the junction of the International Land-Sea Trade Corridor, as well as the Belt and Road Initiative and the Yangtze River Economic Belt and therefore is in an advantageous position to attract foreign investments and enterprises. Chongqing is rapidly becoming a central hub for international trade and logistics, serving as an anchor point for Chongqing's opening up the world and also for the opening up of Western inland China.
According to statistics from the Chongqing Municipal Commission of Commerce, foreign capital investment in Chongqing has exceeded 10 billion USD for six consecutive years, and Chongqing is now a global production hub for laptop computers, cellphones, and cars. However, Chongqing is more than just a production base. The city's rapid development has fueled the city's economy and changed the city's skyline. Yet, no single project has had as significant an impact as the Raffles City Chongqing Project.
CapitaLand, the company behind the Raffles City Project, has been in Chongqing for more than ten years, and in China for more than 25 years. While the Raffles City Chongqing isn't the first in China, it is the single most substantial investment by CapitaLand in China. The Raffles City Chongqing project aims to bring in residential buildings, among them, the tallest purely residential tower in China, as well as offices, hotels, serviced apartments, and a shopping mall and transport hub.
However, the Raffles City Chongqing project is not only about the project itself, because for the Raffles City project to flourish the surrounding areas must also thrive. That is why, in collaboration with the Yuzhong local government, CapitaLand have visited Singapore, Hong Kong, and Shanghai to attract new businesses not only to the project itself but also to establish themselves in Chongqing and inspire economic development in the area.
The Raffles City Chongqing project is designed to be a complete project that puts everything within reach of the tenants, residents, and visitors. In this episode of A New Corridor for New Energy, we met with General Manager, Vincent Wong, to discuss the development and scale of the project as well as its impact on Chongqing and especially Yuzhong District at the confluence of the two rivers.