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Foreign Enterprises Respond Optimistic about Chongqing Q1 Result

By VIVIAN YANICHONGQING|Apr 28,2021

Chongqing– Foreign-funded enterprises are very optimistic about Chongqing. In the first quarter of 2021, the city’s stock foreign-invested enterprises increased their capital by USD 898 million, a year-on-year increase of 162.57%, and their share increased by 32.63 percentage points year-on-year.

Statistics show that, in the first quarter, Chongqing’s contractual foreign investment was US$1.199 billion, a year-on-year increase of 48.32%; its actual utilization of foreign capital was USD 1.835 billion, a year-on-year increase of 35.91%; 57 foreign-invested enterprises were newly established, a year-on-year increase of 3.64%; foreign direct investment (FDI) was US$325 million, an increase of 63.73% year-on-year, which was 19.97 percentage points higher than the overall national growth rate.

Meanwhile, the key districts and counties and opening-up platforms have an obvious effect in supporting foreign investment. Statistics show that there are 19 districts and counties in the city, and seven national-level open platforms contribute to the FDI.

Specifically, Yubei District, Banan District, Jiulongpo District, etc., are among the top districts and counties. FDI from opening-up platforms, including Liangjiang New District and Chongqing High-tech Zone, accounted for 64% of the city’s total FDI, and its share increased by nine percentage points year-on-year.

“Foreign investment in Chongqing from countries along the Belt and Road is also increasing,” said the relevant person in charge of the Municipal Commission of Commerce.

Chongqing actively expands its circle of friends on the new land-sea channel, fully integrates into the agreement of Regional Comprehensive Economic Partnership, and seizes a series of important strategic opportunities. 

In the first quarter, the FDI of countries along the Belt and Road reached US$306 million, a year-on-year increase of 92.74%, accounting for 94.03%.

Next, Chongqing will continuously build the upgrading of the whole-process service system for foreign investment and establish and improve its Foreign Investment Administrative Service Steward system. This is to gradually encourage the formation of a vertical and horizontal linkage of foreign investment promotion.

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