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Foreign Companies' Business and Involvement in Chongqing

By RUI HU|Sep 25,2019

By Rui Hu, Editor

The 14th Annual Meeting of the Chongqing Mayor’s International Economic Advisory Council (CMIA) will be held at Yuelai International Convention Center on September 27 and 28. Since the establishment of the annual meeting, Chongqing has welcomed a wave of Fortune Global 500 and famous multinational companies, which bring more opportunities to the city and improve the Chongqing people’s quality of life.

Steve Clark, CEO of Suez Environnement

Assist Chongqing in environmental protection

Suez Environnement, as a Fortune Global 500 company, concerns about Chongqing’s development and is an initiator of the annual meeting mechanism.

The world-renowned expert in the water actively supports the city in sewage treatment. In 2017, Suez Environnement signed a 4-million-euro agreement with Chongqing to improve the water environment in Yuelai Eco-City with digital sewage treatment technologies.

This is the first case that the company applies its technologies in China’s ecological field.

In the same year, Chongqing Energy Anwen Power Plant Pithead Coal Power Plant Expansion Project Unit 4 began power generation.

This is the first cooperative project in the power supply industry based on the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI). Chongqing Energy Investment Group and Singapore’s Sembcorp (China) Holding established a joint venture to complete it.

Chang`an and Ford are ready for the following CMIA

Bring the modern service industry to the world

“Deloitte will set its foothold in Chongqing to serve China and even the entire Asia-Pacific region,” said Philip Tsai, Vice Chairman of Deloitte Global and Chairman of Deloitte China during the 2019 Smart China Expo.

Deloitte, as one of the Big Four accounting firms, is also a member of the CMIA. Since the fifth annual meeting, the firm has been responsible for specific subjects.

Deloitte settled down in Chongqing in 2009 and later established its Global Delivery Center here. After ten years of growth, it now enjoys over 3,000 employees in the city and makes excellent contributions to Chongqing’s financial development.

PricewaterhouseCoopers (PwC) and KPMG came to Chongqing successively. In September 2019, Ernst & Young Hua Ming LLP Chongqing Branch opened.

Multinational companies serve Chongqing people on all fronts

Few people know that Yonghui Superstore commonly seen in Chongqing is backed by Jardine Matheson, a member of CMIA.

At the Belt and Road Forum for Interconnected Land-Sea Development held in June 2019, David Hsu, Chairman of Jardine Matheson (China), said the Group came to Chongqing 15 years ago, and half of its investment in mainland China flew to Chongqing, making the city the largest investee in this region. Next, Jardine Matheson would grow with Chongqing to further improve people’s quality of life.

Chongqing Tiandi is a famous real estate project in Yuzhong District. Its developer, Shui On Land, also plays its role in CMIA. Attracted by Chongqing Tiandi, Yuzhong District now enjoys a raft of high-end real estate projects.

Hongkong Land, CapitaLand, and other multinational companies streamed to Chongqing to construct high-quality buildings, including shopping malls.

Chongqing is one of the automobile manufacturing bases in China. Some local joint ventures in the industry are also in the team of CMIA.

Changan Ford Automobile, a joint venture between Changan Automobile and Ford Motor Company, is one of them. Ford Taurus has been the designated vehicle of several sessions of CMIA annual meeting. Another example is Changan Suzuki Automobile, jointly founded by Changan Automobile, Suzuki and Nissho Iwai Corporation. Suzuki Alivio is used as a taxi in Chongqing. Jardine Matheson’s Zungfu Vehicles set up Mercedes-Benz 4S shops in the city, offering diversified options for local people to buy luxury vehicles.

With Chongqing opening to the world, the city will grow closer to other countries and regions.

Source: Chongqing Daily
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