Chongqing — According to the Chongqing Municipal Commission of Commerce on July 30, the actual use of foreign capital in Chongqing in the first half of this year was USD 4.82 billion, a year-on-year increase of 20.1%. Newly established foreign-invested enterprises increased by 34.9% year-on-year, among which high-tech enterprises accounted for nearly 30%.
Chongqing is standing out as a major destination for foreign investment in China’s central and western regions. (iChongqing file photo)
Since the beginning of this year, Chongqing has successively introduced 12 policies and measures to stabilize foreign trade and foreign investment, and 25 policies to utilize foreign capital, pay attention to the protection of legitimate rights and interests of foreign investment, and continue to improve the foreign investment environment. According to the Ministry of Commerce, more than 90% of key foreign-invested enterprises are optimistic about their development prospects in Chongqing.
The rapid development of Chongqing's service industry has also contributed to the high-quality development of foreign capital in the city. According to statistics, in the first half of the year, Chongqing's service industry accounts for 70% of the city's total foreign direct investment. Especially the high-tech service industry is more favored by foreign investment. In the first half of the year, the foreign direct investment by the high-tech service industry increased by 36.7% year on year.
By seizing a series of important strategic opportunities such as the Regional Comprehensive Economic Partnership (RCEP), the members of the RCEP agreement have seen a substantial increase in foreign direct investment in Chongqing. And foreign direct investment in countries and regions along the Belt and Road accounted for more than 80%. Among them, ASEAN increased by 171.4% year-on-year, accounting for an increase of 19.9% compared with the same period last year.
Chongqing Municipal Commission of Commerce stated that the next step will be to focus on key areas, key projects, improve working mechanisms, continue to consolidate the foundation for the recovery of foreign investment, and promote the high-quality development of the business economy.