Seeing Chongqing's unique logistical advantages and supporting policies, the Fortune 500 and logistics giant Maersk settled in Raffles City Chongqing on June 28, planning to create a new business organization to help develop Chongqing's modern service industry.
The signing ceremony between the People's Government of Chongqing Yuzhong District and A.P. Moller-Maersk. (iChongqing file photo)
Maersk was founded in 1904 and headquartered in Copenhagen, Denmark, and its Logistics branch serves as the world's largest container transportation company. In addition to the shipping business, it also involves one-stop services such as air transportation, land transportation, warehousing and distribution, customs affairs, and supply chain management.
As early as 2004, Maersk launched a shipping business in Chongqing and set up a representative office. However, this time is a further expansion of the original industry sector. The new organization will manage the integrated shipping supply chain in Greater China and related services such as internal import and export documents, electronic booking, online customer service, and financial processing in Maersk worldwide.
"Raffles City Chongqing is an important carrier of Yuzhong District's opening-up. We chose to settle here because we are optimistic about the potential of Yuzhong as a pioneering area for inland opening up highlands," said a representative from Maersk.
The economic density of the Yuzhong District ranks at the forefront of the national key city. It has become the advanced headquarters economy of the upper reaches of the Yangtze River, having the most active commerce and comprehensive building economy.
DTZ, a world-renowned real estate consulting firm, is the sole agent for this siting project of Maersk.
"The central consideration of Maersk is Chongqing's location advantage, especially in the logistics and shipping sector. Chongqing has the Chongqing-Xinjiang-Europe international railway, the New International Land-Sea Trade Corridor (ILSTC), and the Yangtze River golden waterway, which has outstanding advantages," said Wei Xiaolong, general manager of DTZ's Chongqing office.
On June 2, Maersk's shipping containers departed from Chongqing Tuanjiecun Station to Vientiane in Laos via the ILSTC. Maersk, the shipping giant, has opted for a cross-border rail option with no sea transportation, which is a sign of the ILSTC's appeal to global logistics companies.
Another reason for Maersk's interest in Chongqing is the city's industrial transformation and upgrading. In recent years, Chongqing's office market has shifted from manufacturing to tertiary industry, dominated by modern services.
In addition, talent policy is also an essential factor. "All district and county governments in Chongqing attach great importance to cooperating with key universities at home and abroad to cultivate professional talents," Wei added. Chongqing has also introduced many supporting policies, such as preferential subsidies for high-end talents and a green channel for their children to attend school and get medical treatment.
The data shows that 312 Fortune 500 enterprises settled in Chongqing. Deloitte, CapitaLand, Liberty Insurance, and 1000 foreign-invested market entities choose Yuzhong District, Chongqing. The investment sources are from 40 countries and regions such as Japan, the United States, and the United Kingdom.
Yuzhong District has also launched an exclusive policy package to empower the economy. Multinational companies and extensive domestic and foreign enterprises set up comprehensive, regional, and functional headquarters in the Yuzhong District. Enterprises that comply with the national Western Development Strategy policy are subject to corporate income tax at a reduced rate of 15%. For newly introduced and recognized world top 500, national top 500 and unicorn enterprises will be given a one-time settlement subsidy of up to 2 million yuan (about 0.3 million U.S. dollars).
Maersk's new business organization will be running in the year's second half and will employ more than 800 people in the early stages. "After Maersk settles in Chongqing, it will empower Chongqing's function of sea and outbound channels, to improve Chongqing's open economy, logistics, and industry," said a representative from the Chongqing Municipal Commission of Commerce.
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