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Foreign Investment Gold Rush: Chongqing Unveils $15.5 Billion in Business Opportunities

By YUTING CHEN|Jun 08,2024

Chongqing— On June 6, To attract foreign investment, Chongqing showcased over $15.5 billion in business opportunities at the Foreign Investment Projects Promoting Chongqing SOEs Reform Projects Promotion & Signing Event. The event highlighted 37 major projects for international cooperation, demonstrating the city's commercial potential.

The 37 announced projects cover new material research and manufacturing sectors, commercial asset revitalization, and financial capital innovation.

Notable projects include urban operations in the Huangjuewandu, Jiangbeizui, and Chaotianmen areas, which highlight Chongqing's commitment to expanding openness and deepening cooperation with foreign enterprises.

The scene of the signing ceremony. (Photo/Shangyou News)

The event attracted over 70 well-known foreign enterprises, business associations, and consular institutions from 13 countries and regions, signing projects exceeding $1 billion in foreign investment.

A highlight of the event was the strategic cooperation agreement between Chongqing’s State-Owned Assets Supervision and Administration Commission (SASAC) and GLP China Holdings Limited. The agreement includes creating a foreign investment fund to facilitate market-driven interactions between state-owned enterprises and foreign capital in finance, technology, and the real economy.

Since the beginning of this year, Chongqing’s state-owned enterprises have been establishing a tripartite cooperation mechanism among central, private, and foreign enterprises. 

Zeng Jinghua, Director and Party Secretary of the Chongqing SASAC, emphasized that Chongqing will continue implementing the “Four Arrivals” service mechanism, including prompt response, timely assistance, delivering on promises, and providing comprehensive services. 

This approach aims to ease foreign investors' concerns in Chongqing and foster a business environment marked by openness, inclusiveness, equality, and mutual benefit.

Chongqing's state-owned enterprises have established nearly 100 branches worldwide and trade with over 70 countries. With over 5 billion yuan in foreign investment, these enterprises have formed strong international partnerships in manufacturing, commerce, logistics, and finance.

Iconic collaborations, some spanning up to 40 years, such as with Qingling Motors, Sino-French Water, Sanfeng Environment, and Chongqing Cummins Engine Company (CCEC), have yielded significant economic and social benefits.

As of now, Chongqing has over 7,000 foreign-funded enterprises, including 319 Fortune 500 companies. In 2023, Chongqing's total foreign trade volume reached 713.7 billion yuan, and the city's automobile production rose to the second highest in China.


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