Chongqing - Southwest China's Chongqing has seen a twofold increase in investment and contracted projects related to the Belt and Road Initiative (BRI) over the past ten years, according to a press conference on September 22. 

The year 2023 marks the 10th anniversary of the BRI, while Chongqing's involvement spans multiple sectors, including manufacturing, energy, and transportation, with 188 investments and 390 contracted projects on record. 

Several landmark initiatives, including the Seres Indonesia automobile plant, highlight Chongqing's robust foreign investment landscape, where private firms contribute 80% of the funding.

Data shows that the BRI has provided an expansive platform for Chongqing enterprises to venture abroad for investment and cooperation opportunities, where private firms play a pivotal role in Chongqing's business economy, accounting for nearly 50% of the city's foreign trade and 80% of its foreign investment.

Chongqing enterprises visited Malaysia for investment cooperation on July 18, 2023. (Photo/Chongqing Municipal Commission of Commerce)

55 overseas warehouses in 23 countries 

Chongqing Municipal Commission of Commerce has been actively aiding local firms in expanding their international market reach through various measures. One platform is "Chongqing Trade with World," which fosters global connections.

The Commission has arranged numerous exhibitions and trade promotion events to showcase Chongqing's export commodities. These efforts are geared towards market cultivation in Europe, the United States, Japan, South Korea, and ASEAN countries. In addition, enterprises are being encouraged to venture into emerging markets like Central Asia, South America, and Africa.

In the first eight months of 2023, Chongqing has organized nearly 50 government trade missions. This has enabled over 500 companies to participate in nearly 100 overseas exhibitions, resulting in trade orders exceeding five billion yuan. 

Furthermore, strengthening the international marketing network is also of prime importance. This is achieved by leveraging the overseas warehouses to boost the competitiveness of Chongqing's private firms on the international stage. 

Chongqing has established a network of 55 overseas warehouses in 23 countries and regions.