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Chongqing's Changshou Secures Significant Investment in New Materials Industry

By JINGGU, JIANG|Jul 01,2024

Chongqing - Over 200 entrepreneurs gathered to contribute their expertise and efforts to building a world-class industrial cluster for new materials in Chongqing, China on June 28.

The Central State-Owned Enterprises (SOEs) and Chongqing (Changshou) Development Partnership Event in Changshou District witnessed the signing of 46 projects with a total investment worth RMB 40.6 billion (about USD 5.57 Billion). 

These projects cover various fields, including silicon-based new materials, natural gas new materials, new energy equipment, digital health, and productive service industries. Among them, 14 projects regarding the SOEs totaled an investment of RMB 14.6 billion. 

On June 28, the Central Enterprises and Chongqing (Changshou) Development Partnership Event was held in Changshou District. (Photo provided by the organizer)

Additionally, a ceremony for the commencement and production of significant projects was held. Ten projects are commencing construction with an investment of approximately RMB 12.3 billion. Furthermore, 15 projects were put into operation with a total investment of around RMB 10.2 billion. It is expected that after reaching full production, these projects will generate an additional output value of RMB 26.1 billion.

A key project signing ceremony took place, with a total of 46 projects signed. (Photo provided by the organizer)

Changshou District is a modernized new city in the eastern part of Chongqing. It serves as a crucial land transportation hub in Chongqing and an important port city in the upper reaches of the Yangtze River. It is also a significant steel and integrated chemical industry base in the western region. 

Changshou Economic and Technological Development Zone, a national-level development zone, ranks third in western China and first in Chongqing in terms of comprehensive development level. In recent years, Changshou District has accelerated the construction of a globally influential new materials hub, with the annual output value of new materials accounting for over 25% of the city's total.

Changshou District has a long-standing connection with central enterprises. It is home to the Shizitan Power Station, China's first independently designed and constructed cascade hydropower project. Additionally, it hosts Sinopec Sichuan Vinylon Works, the largest and internationally renowned natural gas chemical enterprise in China. Currently, one-third of the industrial output value in Changshou District comes from central enterprises located in Changshou District. Additionally, these central enterprises provide tens of thousands of job opportunities to local residents annually.


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