The first Chongqing Global Investment Promotion was held at the China Intelligence Valley (Chongqing) Science Park on July 5. It covers emerging industries such as electronic information, automotive, material, biomedicine, modern service industry, modern agriculture, and key development fields, including infrastructure construction.
Chongqing highly values investment promotion and is confident in catalyzing an exemplary city of opening-up in inland China. Although lasting for only 45 minutes, the promotion offered valuable information with several highlights. Advanced manufacturing industries, involving electronic information, automotive, material, equipment, and medicine, were worthy "leading roles."
Prof. Hermann Simon, a renowned economist said, "I think Chongqing is an appealing investment destination. In this globally influential Chinese city, you can get satisfying services."
To build a high-quality foreign investment hub, a sound "soft environment" is one of the core strengths a city should have.
Optimizing business environment
In the second half of 2021, the first year of the 14th Five-Year Plan period (2021-2015), Chongqing demonstrated its ambition for wider opening-up and innovation-driven industrial upgrading with the event.
Helped by high-quality investment promotion, Chongqing can celebrate steady and quality economic development.
In this year's municipal government work report, "investment promotion" was proposed to intensify industrial and supply chains-related investment attraction, step up efforts for effective investment, and stimulate legislation in this field.
On July 1, Regulations on Optimizing the Business Environment in Chongqing came into force, an effort by Sichuan and Chongqing in cooperative legislation. According to the results released by the World Bank's consultation and evaluation at the beginning of 2021, Chongqing's business environment indicators exceed the world average. In particular, the indicators for property registration, contract execution, and bankruptcy handling have reached the level of developed economies.
China (Chongqing) Pilot Free Trade Zone. (Chongqing file photo)
Abundant investment opportunities
In the next five years, Chongqing will be in great demand of investment in traditional and new infrastructure construction, among which transportation alone needs 500 billion yuan (about 77.3 billion U.S. dollars).
Meanwhile, industrial upgrading, technological and scientific innovation, and digital empowerment can give rise to numerous investment opportunities. For instance, the scale of industrial investment is expected to exceed 1.5 trillion yuan.
Chongqing enjoys favorable national policies, including Western Development Strategy, Chengdu-Chongqing economic circle, the pilot free trade zone, and the comprehensive innovation reform pilot zone. It will award enterprises based on their contributions to economic development.
Chongqing celebrates a promising future in constructing an exemplary city of opening-up in inland China and high-quality development.