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Chongqing Development and Reform Commission and CDB Chongqing Sign a Strategic Cooperation Agreement

By VIVIAN YANICHONGQING|Nov 02,2020

Chongqing Development and Reform Commission and China Development Bank (CDB) Chongqing Branch signed the Cooperation Agreement on Driving Construction of Chengdu-Chongqing Economic Circle and Fueling Coordinated Development of One Area and Two Clusters on October 26.

Chongqing Development and Reform Commission and China Development Bank Chongqing Branch sign the Cooperation Agreement on Driving Construction of Chengdu-Chongqing Economic Circle and Fueling Coordinated Development of One Area and Two Clusters, October 26, 2020. (Photo from Chongqing Development and Reform Commission)

Chengdu and Chongqing are planning to further enhance the strategic collaboration around the 14th Five-Year Plan, the construction of the Chengdu-Chongqing economic circle, and the innovation of financing and investment models. They will maximize the advantages of the Chongqing Development and Reform Commission in organization and coordination, and that of the CDB Chongqing Branch in middle- and long-term investment and financing, as well as integrated banking services.

With such efforts, they will be able to drive the construction of the Chengdu-Chongqing economic circle and promote the shaping of the Dual Circulation pattern efficiently and effectively.

In recent years, CDB Chongqing Branch has actively helped development finance play its role. It responded to major development strategies of the city, by investing over 180 billion yuan since 2017 in infrastructure construction, including the Yangtze River protection, poverty alleviation, and other key areas.

CDB Chongqing Branch also has made meaningful explorations and creative attempts to innovate the financing models of infrastructure projects, paving a new way for Chongqing’s reform of investment and financing systems.

Helped by this agreement, Chengdu and Chongqing will further deepen partnerships, expand cooperation fields, and put relevant measures or projects into action. The agreement is also to help the two sides integrate smoothly into the new development pattern, and support Chongqing to successfully conclude the 13th Five-Year Plan and start the 14th Five-Year Plan.

Besides, the two sides will drive the One Area and Two Clusters to maximize strengths, highlight features, and realize coordinated development. Furthermore, they will grow the Chengdu-Chongqing economic circle into a center of economic development and scientific and technological innovation, a new leading area of reform and opening-up, and a premium place to live, which has national influences. The cooperation between Chengdu and Chongqing will establish an important growth pole and a new power source to lead the country’s high-quality development.

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