Chongqing - China will intensify efforts to attract and utilize foreign investment, according to a government work report submitted on March 5 to the national legislature for deliberation.
Recently, the delegation of over ten world giant enterprises, including Rockwell Automation, BD, and Medtronic, visited Chongqing, showing great interest in investing in the booming city.
On March 1, the first government-enterprise symposium of the China-Italy Chamber of Commerce (CICC) was also held in Chongqing Liangjiang New Area, where 190 Fortune 500 enterprises were settled, accounting for above 50% of Chongqing.
The government-enterprise symposium of the China-Italy Chamber of Commerce (CICC) was held in Liangjiang New Area. (Photo/Ran Yulin)
In February, the giant Chinese enterprises Huawei, CRRC, China Unicom, and CASIC came to Chongqing, expressing their strong will to strengthen cooperation with Chongqing.
All the signs imply that Chongqing is attracting attention both at home and abroad and that more and more renowned enterprises are choosing to invest here.
Chongqing to bring in more Fortune 500 companies
“Chongqing is the key industry base in China. We have a lot of potential partners here.,” said Dai Pengfei, the vice president of Rockwell Automation China. “This is why we must come to Chongqing this time.”
Rockwell Automation, an American provider of industrial automation, is good at solving the problems like excessive production capacity in the manufacturing industry. This can lead to further cooperation with Chongqing, as the city has a plan promoting the integration of the real economy with the internet, big data, and artificial intelligence to develop the smart industry.
Chongqing has an outstanding location advantage, a strong industrial foundation, and great potential for future development. This is an important reason many foreign enterprises visit Chongqing and conduct research.
According to the vice president of Medtronic China Deng Jian, Chongqing impressed him greatly, and he has more expectations of the city’s development.
“We will have further cooperation with Chongqing Investment Promotion Bureau this year,” said Wei Xiaolong, the general manager of the Chongqing branch of Cushman & Wakefield, a global commercial real estate services firm.
Wei said the company would innovate the investment promotion and expand the channel for Chongqing to bring in more Fortune 500 and potential giants.
Representatives of multinational corporations visit Western China (Chongqing) Science City. (Photo/Chongqing Investment Promotion Bureau)
Aiming to bring in 450 projects above 1 billion yuan
In fact, Chongqing has issued some other moves to attract investment this year.
This January, the Chongqing Municipal Commission of Commerce launched overseas business trip plans, gathering numbers of Chongqing enterprises and driving the enterprises to expand their business overseas.
In February, Chongqing Investment Promotion Bureau organized districts like Liangjiang New Area, Western China (Chongqing) Science City to visit Japan’s enterprises like Mitsubishi Electric, Nippon Denso, etc., aiming to strengthen the cooperation on intelligent connected new energy vehicles, high-end equipment, and biological medicine.
As introduced by a related person from Chongqing Investment Promotion Bureau, Chongqing aims to bring in 450 projects above 1 billion yuan (about 140 million US dollars), with paid-in investment totaling 465 billion yuan (about 67 billion US dollars). The project operation rate will reach 60%.