Chongqing and Chengdu seek for integrated development as the construction of the Chengdu-Chongqing economic circle begins.
Recently, six parties signed the Initiators’ Intention Agreement on the Development Fund of Chengdu-Chongqing Economic Circle at the Second Meeting of the Leading Group of Chongqing-Chengdu Economic Circle Construction Promoted by State-owned Assets Supervision and Administration Commissions of Sichuan Province and Chongqing. The six parties were Sichuan Development Holding Co., Ltd., Chongqing Yufu Holding Group Co., Ltd., Chongqing Land Group, Management Committee of Chongqing Hi-tech Industrial Development Zone, Sichuan Development Industry Led Equity Investment Fund Management Co., Ltd., and Chongqing Yufu Capital Private Equity Co., Ltd. They jointly initiated the Chengdu-Chongqing Economic Circle Development Fund (tentative) worth 30 billion yuan, marking the beginning of a new chapter of the in-depth cooperation between Sichuan and Chongqing in the finance and industry.
The Fund is a crucial part of the building of the western science city, international financial center, and science and technology innovation center. Also, it is a good start for capitals of the two places to carry out in-depth multi-faceted cooperation to serve industrial integration and promote sound communication between brilliant enterprises in this area.
The Fund is going to settle down in Chongqing Hi-tech Industrial Development Zone, and the first phase is estimated to value 10 billion yuan. It will be operated under a market-based mechanism and mainly invested in such strategic emerging manufacturing industries as an integrated circuit, smart manufacturing, new display, new materials, new energy, and biomedicine, strategic emerging service industries, including air travel and massive healthcare, as well as smart city and new infrastructure. As a result, the Fund can boost the coordinated economic development in Chengdu and Chongqing.