Chongqing - As reported by the Chongqing Municipal Development and Reform Commission on October 16, Chongqing’s 1,192 key construction projects achieved an investment of 361.14 billion yuan (approx. USD 50.71 billion) from January to September 2024, reaching 79.5% of the annual target and reflecting steady progress on key initiatives.
Chongqing's key projects drive 361.14 billion yuan in investment in the first three quarters of 2024. (Graphic/Zheng Ran)
"Chongqing's modernization of its industrial system saw significant progress with investments reaching 97.12 billion yuan, achieving 92.1% of the annual target. The city has strongly emphasized key sectors such as manufacturing, science and technology innovation, and modern service industries," said a spokesperson from the Chongqing Municipal Development and Reform Commission.
In the manufacturing sector, key projects saw investments of 69.71 billion yuan, reaching 93.7% of the target. Highlights include the Compal Electronics smart screen terminal project in Chongqing Liangjiang New Area, where the first plant is completed and production line equipment is being installed. Additionally, the 12-inch integrated circuit processing facility at Chongqing Hi-Tech Industrial Development Zone has completed the roofing of its main plant.
The intelligent production line of Chongqing Dong-ju Metal Products Co., Ltd. (Photo/Rongchang District)
Science and technology innovation also made strides, with 4.85 billion yuan invested, marking 81% progress. Highlights include Chongqing University Science Center and the Sinopec Chongqing Shale Gas Production Research Center, both of which have seen over 80% completion.
Chongqing University Science Center focuses on building nine key innovation areas, including advanced manufacturing, intelligent energy, low-carbon technology, advanced materials, electronic devices, artificial intelligence, and frontier sciences. It is positioning itself as a leading hub for basic research and innovation in western China.
In modern services, investments totaled 19.25 billion yuan, with major projects such as the Weituo Logistics Park in Hechuan District and China Communications Construction Company (CCCC) Cold Chain Smart Industrial Park in Shapingba District making notable advancements. The CCCC Cold Chain Smart Industrial Park is Southwest China's first green smart cold chain project featuring ultra-low temperature storage facilities.
Chongqing continues prioritizing transportation infrastructure, completing investments of 106.07 billion yuan in its inland open highland projects. One of the standout achievements was opening the Sichuan-Chongqing section of the Chongqing-Kunming high-speed railway in September.
26.33 billion yuan was invested in rail transportation projects, including major developments in transportation hubs such as Chongqing East Railway Station and Yongchuan South Station. Construction of Chongqing Jiangbei International Airport's T3B terminal and the fourth runway also progressed, with a successful test flight completed on the runway.
Port and shipping infrastructure also saw progress, with 2.94 billion yuan invested. The Chongqing Port Main-city-port Area Cuntan International Cruise Home-port Port Project is now at 53.3% completion and is currently installing port machinery.
The design drawings of Cuntan International Cruise Center. (Graphic/Chongqing Cuntan International Cruise Terminal Development Co., Ltd)
Furthermore, the new urbanization initiatives in Chongqing are progressing rapidly, with investments totaling 115.78 billion yuan. The construction of urban roads, bridges, and tunnels has been a significant focus, with 13.12 billion yuan already invested, reaching 101.4% of the annual target three months ahead of schedule.
The city's urban renewal projects, including the renovation of 1,835 old communities and 41.86 million square meters of urban space, are also advancing, with a 100% start rate for 2024 projects.