Chongqing - For Eurasian companies looking to expand production and diversify supply chains, southwest China's Chongqing is offering new opportunities. On November 12, 28 cooperation projects worth more than 20 billion yuan (about 3 billion U.S. dollars) were signed during a visit by Eurasian businesses to the city.

The event of the Chongqing Visit by Eurasian Enterprises kicked off in Chongqing on November 12, 2026. (Photo/Hualong Net)

At a results briefing on November 13, Quan Wei, deputy secretary-general of the Chongqing Municipal People's Government, said the event had attracted more than 260 overseas guests from 29 countries and regions, representing 195 foreign-invested enterprises and institutions. Nearly half of the participating companies were Fortune Global 500 companies, industry leaders or specialized market leaders known as "hidden champions," while more than 70% sent executives at vice-president level or above.

The event also released three business resources: a list of 180 industrial investment opportunities worth 480 billion yuan; a service handbook covering logistics, cross-border financing and intellectual property protection for Chongqing companies expanding overseas; and a catalogue featuring approximately 500 products from 311 local companies. Together, the materials are intended to help international investors identify opportunities in Chongqing while supporting local businesses seeking markets across Europe and Asia.

Chongqing, a major manufacturing center in western China, has industrial output exceeding 3 trillion yuan and covers all 31 manufacturing categories recognized in China's industrial classification system. Its automotive, electronics, and advanced materials industries are among the sectors targeted for international cooperation.

Chip investment moves toward commercial production

French-Italian chipmaker STMicroelectronics is advancing its eight-inch silicon carbide wafer manufacturing project in Chongqing, according to Elizabeth Pei Jinlin, vice president of STMicroelectronics.

Representatives of Eurasian companies attend the Chongqing Visit by Eurasian Enterprise event in Chongqing. (Photo/Zheng Ran)

The facility moved from project launch in 2023 to initial production in 2025 in 19 months. "For STMicroelectronics, the Chongqing project is not just an advanced manufacturing facility, but an important part of our 'in China, for China' strategy," Pei said.

Silicon carbide semiconductors are used in power electronics, including electric vehicles and industrial equipment, where energy efficiency and performance are important.

Pei identified intelligent mobility, industrial robotics and AI infrastructure as areas of growing demand. Chongqing's automotive industry, including manufacturers Changan and Seres, offers opportunities to collaborate on power management, sensing, and control technologies, she said.

German businesses explore local production

German electric mobility startup XYTE mobility is also considering manufacturing in Chongqing.

Founder Wolfgang Ziebart said the company is developing a new type of three-wheeled vehicle designed to improve the safety of urban mobility.

The company is preparing to invest in China, with Chongqing its preferred manufacturing location.

Ziebart pointed to the city's established automotive and motorcycle industries, extensive supplier network and availability of skilled manufacturing workers. Rather than producing every component itself, XYTE mobility plans to work with local suppliers.

Germany's specialized manufacturers are also looking for partnerships with Chongqing companies.

Michael Heilig, regional chairman for Southern Germany BVMW, said German firms bring strengths in engineering, precision manufacturing and specialized technologies, while China offers industrial capacity and rapid commercialization.

"Trust is not something that can be established by command. It needs to be built gradually," Heilig said, emphasizing the importance of long-term relationships between businesses.

He noted that many German small and medium-sized companies are family-owned enterprises focused on long-term development rather than quarterly financial results.

Railway links support cross-border supply chains

Transport connections are another part of the cooperation.

Zhu Keping, Asia-Pacific vice president of German logistics company Hellmann Worldwide Logistics, described how the company developed a rail-based import service for Porsche vehicles using the China-Europe Railway Express through Chongqing.

More than 26,000 vehicles have been transported to Chongqing through the arrangement, with local customs clearance, inspection and distribution services supporting deliveries to surrounding provinces.

Zhu said the service had reduced delivery times and inland distribution costs while helping address the imbalance between outbound and return freight on the railway network.

He also described a supply-chain arrangement for a major American electric vehicle manufacturer. Automotive components produced in Malaysia are transported through Southeast Asia to Chongqing, then shipped by rail to Hamburg, Germany, for final delivery to an assembly plant in Berlin.

The example illustrates the use of rail transport as an additional option when conventional maritime routes face disruption.

Zhu said rail-based multimodal transport provides companies with another way to manage delivery times, costs, and supply-chain reliability.

Investment cooperation extends beyond manufacturing

The conference also introduced new services to support cross-border investment and business expansion.

Business representatives from China and Eurasian countries participate in the industrial matchmaking session of the Chongqing Visit by Eurasian Enterprise. (Photo/Zheng Ran)

A European Market Expansion & Localization Shared Services Center was launched to assist Chinese manufacturers entering European markets. According to its director, Björn Geiping, the center provides market research, distributor connections, engineering support, equipment testing, and after-sales services.

Its facilities include more than 900 square meters of engineering workshop space.

The CITIC Goldenstone Chongqing Scientific and Technological Innovation Fund was also introduced to support industrial investment.

Wang Zhijie, director of the Chongqing Municipal Commission of Economy and Information Technology, said the city had additionally identified 20 logistics-related investment opportunities worth 75.6 billion yuan, covering transport corridors, aviation services, cross-border e-commerce and overseas warehousing.

The conference marked the third consecutive year of cooperation between Chongqing and CITIC on international industrial matchmaking.

According to Zhang Wenwu, Vice Chairman and President of CITIC Group, the previous two events generated 40 signed projects worth more than 100 billion yuan, of which 36 have since been implemented.

The latest agreements cover advanced manufacturing, electronics, new materials, energy, cross-border trade and financial services, with further discussions planned between international businesses and potential Chongqing partners.