Chongqing - The 7th China International Import Expo (CIIE) officially opened in Shanghai on November 5, with Chongqing sending a delegation of over 650 enterprises to participate. With more than 2,900 registered attendees and over 80 procurement intentions, the Chongqing delegation has grown significantly, surpassing last year’s numbers.
A visitor learns about a bronchoscope robot at the exhibition area of Intuitive Fosun during the seventh China International Import Expo (CIIE) in East China's Shanghai, November 5, 2024. (Photo/Zhang Cheng, Xinhua)
A notable feature of this year's Chongqing delegation is hosting two investment promotion events during the Expo for the first time. Traditionally, Chongqing has held a single cooperation forum to introduce its business environment and growth potential. This year, however, the city has added a second event explicitly focused on attracting investment, aimed at pinpointing specific projects with businesses from Europe, the United States, and other key markets.
Scene from Chongqing's promotion event at the 7th China International Import Expo. (Photo/Yang Jun)
According to officials from the Chongqing Municipal Commission of Commerce, the new event complements the traditional forum by targeting investment opportunities with a more specific, project-focused approach. This strategy seeks to maximize the CIIE's impact and further enhance Chongqing’s appeal as an investment destination.
At the recent investment promotion conference in Shanghai, Zhang Yongwu, Director of the Chongqing Municipal Commission of Commerce, emphasized Chongqing’s economic and industrial momentum. With a GDP exceeding 3 trillion yuan (about 418.6 billion U.S. dollars) in 2023 and a 6% growth rate in the first nine months of 2024, the city is on track to reach 4 trillion yuan (about 558 billion U.S. dollars) by 2027.
Known as "China's Automotive Capital," Chongqing is home to over 20 car manufacturers and 1,100 auto parts companies, positioning it as a leading manufacturing and financial growth player, where financial services now contribute nearly 10% to the city's GDP. Zhang noted that Chongqing’s focus on high-quality development in manufacturing, modern services, and finance provides a strong foundation for innovation and investment.
On September 13, 2024, at the Customs Supervision Operation Site at Luohuang Port, Jiangjin District, Chongqing, a freight vessel carrying foreign trade containers approaches the port, ready for unloading. (Photo/Qi Lansen)
Additionally, Chongqing is strategically leveraging its geographic position to enhance global trade connections. Major transport routes, including the China-Europe Railway Express and the New International Land-Sea Trade Corridor (ILSTC), support the city as a trade gateway across Asia, Europe, and beyond. This international connectivity is further bolstered by Chongqing’s designation as one of China's five International Consumption Centers and the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, strengthening its appeal for global partnerships.
Chongqing's foreign trade volume grew from 70 million U.S. dollars in 1980 to 101.56 billion U.S. dollars in 2023, with an annual growth rate of 18.4%. From January to September 2024, actual use of foreign investment increased by 61.1%, ranking among the top in China.
Chongqing is fostering a world-class business environment through targeted reforms to streamline administrative processes and enhance efficiency. Key initiatives, such as the “Enterprise Service Specialists” program, have provided tailored support to thousands of businesses.
Additionally, specific districts and counties are highlighting their unique advantages to attract international investments. For instance, Jiangjin District’s logistical strengths as the intersection of the China-Europe Railway Express and the Yangtze River Golden Waterway and a major hub on the ILSTC position it as a promising investment destination.
On October 10, 2024, at the Changan Auto Factory in Liangjiang New Area, Chongqing, workers were busy welding as production ramps up to fulfill orders. (Photo/Wang Jiaxi)
The city’s efforts have already garnered substantial interest, with the signing of 18 significant projects worth nearly 30 billion yuan (about 4.19 billion U.S. dollars) at the Expo, covering sectors like technology, healthcare, and manufacturing. Notable companies, including Ford and SW International, have expressed confidence in Chongqing's future. Ford, for example, has established its most extensive overseas manufacturing base in Chongqing, reinforcing the city’s role as a major industrial hub.
With its business-friendly reforms, strategic initiatives, and established industry strengths, Chongqing is poised for continued growth as a prime global trade and investment destination.
(Yang Jun, a reporter from Chongqing Daily, contributed the Chinese version of this report.)
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