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China's Chongqing Signs Agreements Worth RMB 33 Billion at CIIE

By YUTING CHEN|Nov 06,2023

Chongqing - The 6th China International Import Expo (CIIE) Chongqing Investment and Trade Cooperation Dialogue was successfully held in Shanghai on November 5. 

A total of 34 investment and trade projects 

Nearly 100 representatives from 75 Fortune Global 500 companies, renowned multinational corporations, and business associations, including Ford Motor China, Mitsubishi Electric, Tesla, CapitaLand Investment, SIKA Group, and the Japan-China Economic Association, participated in the event.

During the cooperation dialogue, 58 units and enterprises reached a consensus and signed 34 cooperation agreements on-site, with a total value of RMB 33 billion (approximately USD 4.53 billion). 

These agreements encompass 27 investment projects with a total investment of RMB 28.2 billion (approximately USD 3.87 billion) in various fields, including advanced manufacturing, pharmaceuticals, biotechnology, new energy, new materials, commerce, and trade. 

Additionally, there are seven trade projects with a total trade value of RMB 4.8 billion (approximately USD 659.1 million), covering automotive and its components, minerals, agricultural products, and more.

The 6th China International Import Expo (CIIE) Chongqing Investment and Trade Cooperation Dialogue was held in Shanghai on November 5. (Photo/Li Yukun)

Food procurement agreement with HK tech company

Liu Gengliang, Vice President of Business Development and Strategy for Ford Motor China, said that Chongqing, as the only municipality directly under the Central Government in western China, possesses unique advantages and has consistently worked to create a more favorable business environment for companies. 

"Chongqing has a strong technological presence in the automotive sector, particularly in terms of automotive talent," said Liu. As a result, Ford has long been committed to Chongqing, which has become one of Ford's most important global production bases. In the future, Ford will continue to collaborate with Chongqing to enhance the modernization of the city's automotive industry.

"We have signed a 100 million USD frozen food procurement agreement with Hong Kong Mallee Tech for the next year," said Mu Zhenhua, Deputy General Manager of Chongqing Yuzhong Business Development Co. Ltd. "We will also proceed to procure beef, mutton, pork, chicken feet, seafood, fruit juice, dairy products, and more from South America, Australia, Northern Europe, and countries involved in the Belt and Road Initiative."

Mu said that their company has participated in three consecutive CIIE editions, allowing them to establish deep cooperative relationships with nearly 100 leading meat wholesale and processing enterprises. 

In the future, the company will continue to leverage the CIIE platform to expand high-quality supply resources, accelerate the establishment of a global cloud warehouse, and support the construction of  Chongqing as an international consumption center city.

Cross-border e-commerce and domestic trade project

Jiang Hua, Director of Modern Service Industry Bureau at Chongqing Liangjiang New Area Administration Committee in Chongqing, emphasized that the CIIE is a significant platform for promoting high-quality development and a high-quality lifestyle. As a pioneer in Chongqing's openness, Liangjiang New Area actively participates in each CIIE to expand channels for global cooperation.

During this cooperation dialogue, Liangjiang New Area signed an agreement for a cross-border e-commerce and domestic trade project. The project is primarily centered on jewelry products, which will be sold globally through internet platforms. By next year, this project is expected to achieve sales of four billion yuan.

"Liangjiang New Area will continue to leverage its geographical advantages and platforms like the CIIE to deepen all-around cooperation with international markets, including countries involved in the Belt and Road Initiative, and contribute to Chongqing's development as an inland open highland," Jiang stated.

The CIIE provides a window into China's openness to international cooperation and a platform for domestic and international collaboration. 

Chongqing hosts investment promotion activities during the CIIE every year to expand trade cooperation with other countries and regions globally, enhance mutual understanding, increase two-way investments, and promote Chongqing's development advantages and investment opportunities.


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