CIIE in Chongqing connects intl resources with local opportunities

A trade and investment promotion activity for the China International Import Expo (CIIE) in Chongqing campaign was held at Yuelai International Convention Center on April 2. Joined by 117 exhibitors, including multinational companies and investment agencies, the event bridged global resources with local opportunities.

The CIIE has been serving as a platform to strengthen international economic cooperation and promote global trade since it was initiated in 2018. This year, the CIIE in Chongqing campaign in Chongqing featured roundtable discussions, industry symposiums, and onsite visits. They all enhanced communication and exchange between Chongqing and the global market.

With advantages in spending power, geographic conditions, industrial supporting capabilities, and business environment, Chongqing has become an attractive investment destination in West China. In 2023, the city saw the total retail sales of consumer goods reaching 1.5 trillion yuan ($211.5 billion), and the added value of its secondary industry hit 1.17 trillion yuan according to Zhang Yongwu, director of the Chongqing Municipal Commission of Commerce.

Geographically, the city is the largest port city in the upper Yangtze River and sits at the conjuncture of the Yangtze River Economic Belt and the Silk Road Economic Belt. The regular operation of the China-Euro Railway Express and the New International Land-Sea Trade Corridor help the city better connect with Europe, Southeast Asia, South Asia, and Central Asia.

Xu Lingling, chairperson of Chongqing Free Trade Port Area Co., Ltd said the company has connected with JBS, a Brazilian company specializing in poultry, pork, and prepared foods. Xu proposed to transport JBS products via the China-Euro Railway Express and the New International Land-Sea Trade Corridor to Chongqing before further dispatching them to other regions. "They are very interested, it proves the strong competitiveness of Chongqing's logistics channels," Xu said.

Chongqing sent investment invitations at the event. Liangjiang New Area, the first national-level development and opening-up area in inland China, attracts investors and partners with its solid industrial base, enriched sci-tech innovation and talent resources, a well-established land-sea transportation system, and a favorable business environment. This is according to Xu Hongqiu, deputy secretary of the Chongqing Liangjiang New Area Party Work Committee and vice-director of the Chongqing Liangjiang New Area Administrative Committee.

With its auto and electronic information industries both standing at a 200-billion-yuan level, the new area is speeding up the future development of industries such as artificial intelligence and robotics. Currently, the new area houses 190 Fortune Global 500 companies and 930 high-tech companies.

Liangjiang is a significant growth pole in Chongqing. It takes up less than 1.5 percent of Chongqing's land and contributes about 15 percent of its Gross Domestic Product. In 2023, Liangjiang's GDP reached 465.4 billion yuan.