Chongqing – Yubei District is integrating itself into the international market at a faster pace. In the first quarter of 2021, the district’s total import and export volume reached 45.18 billion yuan (about 7.1 billion U.S. dollars), up 66.7% year on year.
“Yubei District can effectively integrate itself into the international market because its adherence to opening-up and continuous improvement of the business environment gives rise to a suitable soil for both domestic and international markets,” said a responsible official at Yubei District Commission of Commerce.
By building the airport international trade demonstration park, Yubei District is currently implementing the package of encouraging policies and integrated comprehensive services in the park to facilitate the settlement of international trade enterprises there.
Through building the black fungus international logistics park, the district has attracted famous international logistics enterprises, such as Shenzhen Easttop Supply Chain Management Co., Ltd. and Shenzhen Baoneng Investment Group Co., Ltd., and created a demonstration site for multimodal transport.
In an effort to continuously deepen international cooperation and exchanges, the district has organized the event of Yubei District Entrepreneurs’ Visit to Africa and successively conducted economic and trade exchanges with countries along the Belt and Road, such as Ethiopia, South Africa, and Belarus. As a result, agreements have been signed on the settlement of such projects as the Ethiopian cafe, the Belarusian-style town, and the imported Belarusian commodity center.
There are more than 900 foreign-funded enterprises across the district, accounting for about one-sixth of the municipality’s total, according to the responsible official at Yubei District Commission of Commerce. In 2020, the whole district utilized 2.45 billion U. S. dollars of foreign investment, exceeding one-fifth of the municipality’s total.
At present, products “made in Yubei” have begun to go global. For example, Shenzhen Transsion Holdings Co., Ltd., the king of mobile phones in Africa, has built a factory and achieved volume production in the district. The company’s global sales network has covered more than 70 countries and regions, including Nigeria, Kenya, Tanzania, Ethiopia, Egypt, India, Pakistan, Indonesia, Vietnam, Bangladesh, and the United Arab Emirates (Dubai). So far, the annual export volume of its mobile phones has reached 8 billion yuan.
Moreover, commodities “made in Yubei,” such as the light trucks of Chongqing Yuanchuang Automotive Assembling System Co., Ltd. and the motorcycles of Chongqing YinXiang Motorcycle (Group) Co., Ltd., are also exported to Vietnam and other places; the silk of Chongqing Sunfeel Industrial (Group) Co., Ltd. has become the rage at the market in Vietnam, India and other countries along the Belt and Road. According to statistics, in 2020, the total volume of Yubei District’s import and export trade reached 167.6 billion yuan, up 11.5%.
In December 2020, Yubei District registered the first foreign investment service center in Chongqing to offer “one-stop” services for foreign investment.
Since its inception, the Yubei District Foreign Investment Service Center has provided pre-investment consultation, investment approval agency and post-investment service guarantees for foreign-, Hong Kong-, Macao- and Taiwan-funded enterprises (including equity investment institutions), foreign business associations and diversity of investment intermediaries, according to the responsible official at Yubei District Commission of Commerce.
In addition, it has also assisted in the handling of complaints from foreign enterprises, smoothed the complaint channels for them, timely identified and coordinated to satisfy their reasonable demand, visited dozens of key foreign enterprises in the finance, service, manufacturing, warehousing, and transport industries, and sorted out and coordinated to solve their existing problems.
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