Chongqing- Chongqing attracts investment worth over USD 139 billion in 2021 first half based on emerging industries, upgrades, innovation, and develop the modern service industry and agriculture. During a press conference held on July 29th, the municipal government announced the latest investment figures in Chongqing.

Zhou Qing, deputy secretary-general of the Chongqing Municipal People’s Government and director of the Chongqing Municipal Investment Promotion Bureau, stated that the target for 2021 is attracting 1.6 trillion Yuan in contractual investment and 320 billion Yuan in place. In the first half of the year, 918.8 billion Yuan of contractual investment has been completed, and 187 billion Yuan actually in place, an increase of 55% and 85% year-on-year, accounting for 57% and 58% of the annual target.

The Third Western China International Fair For Investment and Trade held in Chongqing from May 20-23rd, 2021, saw 102 major projects signed, with a total contractual investment of 228.5 billion yuan. Investment events at the municipal level promoted 109 projects in 23 districts and counties, which attracted a total investment of 124.6 billion yuan. In total, new investment projects in the current period number in excess of 300.

Deputy Secretary-General of the Chongqing Municipal Government, Zhou Qing, delivers a speech at the First Global Investment Promotion Conference in Chongqing on July 5th 2021. (Photograph provided to iChongqing)

Strategy drives investment from enterprise

Investment promotions in Chongqing were mainly centered around the four key areas of expanding strategic emerging industries, consolidation and upgrades to pillar industries, enhanced innovation capabilities, and development in the modern service industry and agriculture. Key results according to industry category are detailed in the table below.

Chongqing has also vigorously implemented five major promotion projects for investment from leading enterprises. The city coordinated with over 300 leading enterprises, key supporting enterprises, unicorn enterprises, specialized new enterprises, and high-level innovation and entrepreneurial teams.

Investment target set for Q3

Zhou Qing pointed out that Q3 will be a golden period for investment promotion and project construction and that targets are to be set higher than for the last season. It will be necessary to complete 40% of the annual targets and strive for an overall contractual investment of 640 billion yuan, with 128 billion of funds to be in place. In the second half of 2021, Chongqing will make good use of important conferences such as the Smart China Expo, Shandong-Chongqing Cooperation Forum, and the Chongqing Talents Conference to promote investment.

A groundbreaking ceremony was held in Chongqing on June 9th, 2021.（Photograph taken by Fan Yijun)

At the same time, the cooperative investment will be promoted in the Chengdu-Chongqing Economic Circle, and greater support will be provided for investment aimed at districts and counties in the northeast and southeast of Chongqing.

Meanwhile, batches of private listed and unicorn companies will be invited to Chongqing for inspection and negotiations.

Zhou Qing emphasized that investment promotion is not about grabbing every last opportunity available. The key focus is to promote strategic emerging industries, pillar industries, innovation capabilities, modern service industries, and agriculture.