By Yuling Chen, EDITOR
Generally speaking, Chongqing's foreign trade volume and foreign direct investment (FDI) have achieved growth.
On January 17, 2019, Chongqing Customs District P.R.China announced that the total value of Chongqing's foreign trade imports and exports reached RMB 522.26 billion in 2018, with a year-on-year increase of 15.9%.
Moreover, in 2018, Chongqing's export reached RMB 339.53 billion with an increase of 17.8% and import RMB 182.73 billion, up by 12.5%.
Li Yu, Deputy Director of Chongqing Customs elaborated four factors contributing to the municipal foreign trade growth, namely processing trade, enhanced cooperation with relevant trading partners, improved business environment and the adjustment of national taxation policy.
Statistics from Chongqing Customs showed that customs special supervision areas accounted for 60% foreign trade volume.
In 2018, the import and export value of these specially supervised areas reached RMB 313.62 billion with an increase of 20.5%, accounting for 60.1% of Chongqing's total in the same period, and its proportion increased by 2.2 percentage points. Specifically, the import and export value of Xiyong Comprehensive Bonded Zone was RMB 206.72 billion, up by 20.6%, and the Lianglu Cuntan Bonded Port Area RMB 106.9 billion, up by 20.4%.
According to the Chongqing Municipal Commission of Commerce, Chongqing FDI ranked the first in mid-western China for it reaching USD 3.25 billion, an increase of 43.8% year-on-year.
Among them, FDI in the manufacturing sector, as well as the commercial and trade circulation sector, doubled, reaching USD 588 million and USD 1.12 billion respectively. In particular, the high-tech industry in the manufacturing sector jumped from 28.4 USD million in 2017 to USD 344.18 million this year.
In addition, the foreign investment environment continued to improve, with foreign investment projects increasing by USD 2.211 billion, accounting for 68.01% of the total. While the use of foreign capital in the city has achieved scale growth, the actual use of foreign capital has seen optimization and the quality has more improvement.
Sources: Chongqing Daily, CQCB
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