Chongqing - On November 3, over 630 business leaders from 56 countries and regions gathered in Chongqing for the Global Chongqing Entrepreneurs Conference. The event facilitated the signing of 64 cooperation projects, worth 56.7 billion yuan (about 7.96 billion U.S. dollars), focusing on sectors like new energy vehicles, smart manufacturing, AI, and electronic information.
So Ching Tung, Chairman of the HKCPPCC (Provincial) Members Association Limited, praised Chongqing entrepreneurs for their resilience and innovation. He highlighted the city's leading role in the global motorcycle industry, new energy vehicle transformation, and electronics production. Chongqing's automotive industry ranks among China's top three, while its laptop production remains globally competitive.
So emphasized that Chongqing has become a strategic hub for Hong Kong entrepreneurs to access inland markets. In 2024, trade between the two cities exceeded 57.5 billion yuan, with 19 Hong Kong-listed companies now based in Chongqing, making it a key player in the Belt and Road initiative and the Yangtze River Economic Belt.
So also proposed increasing industrial collaboration, citing Hong Kong's ranking as the world's freest economy. From 2023 to mid-2025, Hong Kong helped over 1,300 companies expand, attracting more than HK$160 billion in foreign investment. Hong Kong's role as a superconnector will help Chongqing expand its international financing and market reach.
Zhang Xinghai, Chairman of Seres Group, highlighted the importance of the private sector. Private enterprises comprise 97.8% of the city's businesses, contributing 61.6% of GDP and 47.8% of tax revenue. These enterprises also play a major role in creating jobs and driving economic growth.
Zhang also discussed the growing role of Chongqing's private tech sector, with these companies representing 99.5% of the city's technology enterprises. Seres Group, for instance, leads in smart manufacturing, having built three fully automated super factories. With over 300,000 vehicles sold in the first three quarters of this year, Seres continues to lead in the new energy vehicle sector.
Yan Shu, Executive President of the German Chongqing Chamber of Commerce, shared how his company has leveraged the overseas Chinese network to support Chongqing's development. Yan's initiatives include a nationwide smart elderly care platform and the Chongqing Overseas Chinese Business Park. The business park has already facilitated several investment projects, including one for a high-tech automotive wiring factory, which is expected to generate over 2 billion yuan in annual output by next year.
Yan also discussed his role in establishing the Belt and Road International Vocational Skills Certification Center in Chongqing, which trains professionals for Belt and Road co-building countries. He also helped strengthen bilateral relations by creating the Malaysia-China Business Chamber in Chongqing.
The conference offers a platform for dialogue among Chongqing entrepreneurs from around the world. According to official data, about 482,300 Chongqing entrepreneurs operate outside the municipality in other parts of China and more than 18,000 overseas, with their businesses spanning 84 countries across five continents. Over the past three years, 932 Chongqing entrepreneurs have returned to invest in their hometown, with a total investment of 97.9 billion yuan(about 13.74 billion U.S. dollars).