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71 Deals Worth More Than 227.1 Billion Yuan Signed at the WCIFIT

By RAN ZHENGICHONGQING|Jul 24,2022

Chongqing-On July 22, 71 deals worth more than 227.1 billion yuan (about 33 billion U.S. dollars) were signed at the Fourth Western China International Fair for Investment and Trade (WCIFIT) on Friday in Chongqing, covering intelligent networked new energy vehicles (NEV), information technology, biomedicine, and other fields.

The signing ceremony of major cooperation agreements on the 4th WCIFIT.

The signing ceremony of major cooperation agreements on the 4th WCIFIT. (iChongqing file photo)

Nine deals were worth over 10 billion yuan, six values exceeded five billion yuan, and seven deals were worth more than three billion yuan. Among all industries, the manufacturing industry has played a leading role, and NEV became a magnet for investment in the signing.

The average investment was 3.4 billion yuan, with investors mainly coming from state-owned enterprises, Fortune 500 companies, and well-known private companies.

Specifically, this involves seven foreign enterprises, such as Singapore Lion City Capital, Avenue Capital Group, and Yick Lee International, 11 state-owned enterprises, such as SPIC and China Energy, as well as seven of the Fortune Global 500 and four of the Chinese Fortune 500, including Dongfeng Motor, Geely Automobile, Lalamove, Tuopu Group, HITHIUM, Transfer Group, Mckintey Group, Xinfadi Market, and other well-known enterprises.

Furthermore, as a co-builder of the Chengdu-Chongqing Economic Circle, Sichuan province also inked five significant projects at the Fourth WCIFIT. The investment value hits 4.2 billion yuan.

In recent years, the WCIFIT has become an open platform to promote regional cooperation and foreign trade exchanges. Its brand radiation has constantly been expanding. More and more high-quality projects inside and outside the city have reached cooperation consensus and signed and transformed here.

The fair, themed “Joining Hands with the West for a Brighter Future,” aims to enhance cooperation and opening-up efforts in western China. It was followed by conferences and forums focused on extensive consultations. Mexico serves as the guest country, and Sichuan Province and Ningxia Hui Autonomous Region are the guest provinces. Joint contributions shared benefits and development with more than 1,200 companies from 26 countries.

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