Invest in Chongqing

chinadaily.com.cn Updated: 2019-03-22

 

Overview

Chongqing is in the connecting zone between the Tibetan Plateau and the plain of the middle and lower reaches of the Yangtze River. It covers an area of 82,403 square kilometers. The city borders Hubei and Hunan provinces in the east, Guizhou province in the south, Sichuan province in the west and Shaanxi province in the north.

Chongqing enjoys a Mid-Asian subtropical zone humid monsoon climate, with an average annual rainfall above 1,000 mm and an average annual temperature of 16-18 ℃. The city is hot in summer and warm in winter and has a long frost-free season.

According to official statistics, Chongqing’s residential population was 30.75 million in 2017, an increase of 267,300 over the previous year. Its urban population reached 19.71 million, or 64.08 percent of the residential population.

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[Photo/VCG]

In 2017, Chongqing reported a GDP of 1.95 trillion yuan ($284.9 billion), up 9.3 percent over the previous year. Added value in primary industry totaled 133.96 billion yuan, a year-on-year growth of 4 percent. Secondary industry generated 859.66 billion yuan, an increase of 9.5 percent. Tertiary industry saw an added-value of 956.4 billion yuan with a growth rate of 9.9 percent. Primary, secondary and tertiary industries are respectively responsible for 6.9, 44.1 and 49 percent of Chongqing’s economy.

By the end of 2017, Chongqing was home to 279 Fortune Global 500 companies.

It has made great progress in the construction of China(Chongqing)Pilot Free Trade Zone as well. In 2017, the zone housed 220 newly registered enterprises from Hong Kong, Macao, Taiwan or foreign countries with a capital of 1.58 billion yuan. It has also introduced 692 projects with a contractual foreign capital of 300.75 billion yuan in fields like headquarters economy, intelligent manufacturing and health. 

Pillar Industries

Recent years have seen the rapid growth of Chongqing. It has developed into an economic center in the upper reaches of the Yangtze River, an important base of modern manufacturing industry and a functional financial center in China.

Automobile and motorcycle industry

As one of the four major automobile production bases in China, Chongqing has fostered a series of famous brands including Chongqing Chang’an, Chang’an Ford and Lifan. The products vary from passenger cars to trucks and special vehicles. The city is also China’s biggest motorcycle producer and exporter and is now building a general motor manufacturing and export base. 

Electronic information industry

Chongqing has established industrial clusters like integrated circuits, software research, development and outsourcing, communication product manufacturing and information appliance manufacturing.

The city’s laptop manufacturing industry boasts five competitive brands -- Hewlett-Packard, Acer, Toshiba, ASUS and Cisco, the six contract manufacturers of Foxcoon, Inventec, Quanta Computer, Pegatron, Wistron and Compal and 800 other supporting enterprises.   

Chemical industry

Chongqing is the biggest natural gas chemical industry base and one of the most important bases of the refining chemical industry and coal-based chemical industry in China. Its production of acetylene, methyl alcohol and acetic acid ranks first in the country and the equipment for producing chemicals like hydracid and carbamide reaches national and even international advanced levels.  

Energy industry

Chongqing focuses on exploitation of coal, natural gas and shale gas as well as thermal, hydro, wind and biomass power generation. It will also boost nuclear power in the future and try to establish a clean, efficient and sustainable energy mechanism.

Equipment manufacturing industry

Home to some 430 equipment manufacturing enterprises, Chongqing has set up many key sectors, including instrumentation, combustion engines, machine tools, large-scaled power transmission and transformation equipment, hydroelectric equipment and ship building.

Materials industry

The city is blessed with abundant minerals. Reserves of alumina, magnesium, barium and sandstone in Chongqing occupy lead the country, and have helped it to develop into a predominant center of aluminum and steel processing, a production base for green building materials in the upper reaches of the Yangtze River and a national base for new material research and development.

Modern producer service industry

Chongqing’s financial institutions outnumber those of other cities in Central and West China. It is a major clearing house in the west region and the non-performing loan ratio in 2017 was only 1.16 percent. More than ten foreign banks, such as HSBC, Standard Chartered Bank, Citibank, have set up branches in Chongqing.

To upgrade the convention and exhibition sector it built the CQ International Convention & Exhibition Center and the Chongqing International Expo Center.

Chongqing is a pilot for cross-border e-commerce and has attracted famous platforms like Alibaba and JD. It is also a pilot for comprehensive reform of the service industry and is now working to boost trade and exhibitions of bonded goods, cloud computing and big data technology and offshore financial settlement.   

Advantages

Chongqing, the only inland municipality and opening-up highland in China, boasts huge space for investment and development. Its foreign capital in actual use has exceeded $10 billion for consecutive years. With its competitive advantages, Chongqing’s economy has been on a fast track.

Superior Geographical location and transportation

Situated in the geometrical center of China, Chongqing is regarded as the junction of the Belt and Road Initiative and the Yangtze River Economic Belt. Transportation plays a critical role in the city’s economic development and forms a comprehensive network that integrates railways, expressways, waterways and aviation.

In 2017, based on the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, Chongqing became the first city in China to open and normalize the rail-sea combined transport system via Chongqing, Guilin, Guizhou province and Xinjiang Uygur autonomous region as well as the cross-border shuttles.

Abundant Human Resources

Chongqing is of great importance to human resources and has cultivated a great number of talents and professionals. It has 67 higher education institutions and 221 secondary vocational schools, and has produced 350,000 graduates.

It established Chongqing Liangjiang New Area Human Recourses Development Service Center Co., Ltd, a human resource platform, open to talents worldwide, to bring in advanced technology and experience, integrate talents and innovation elements and promote the opening-up of inland China.

Excellent living environment and services

Chongqing boasts a superb living environment. Influenced by its monsoon climate, the city enjoys a comfortable temperature and humid air all year round. Chongqing is reputed for its beautiful mountain and waters and is called a “mountain city” and “river city”. Various kinds of recreational areas around Chongqing are enjoyable tourist destinations.

The Chongqing government is devoted to creating a favorable living environment and good residential services. Foreign investors and their families in Chongqing have extensive access to high-quality international schools and hospitals.

Responsible Departments

1. Chongqing Investment Promotion Association/Chongqing Association of Enterprises with Foreign Investment

Contact:

Tel:023-89018888

Fax:023-89018885

Address:6th floor, Foreign Trade Building, No 65 North Jianxin Road, Jiangbei District, Chongqing

E-mail: webmaster@cqipa.com

Website: http://www.cqipa.com/en/index.asp     http://en.investincq.com/

2. Chongqing Liangjiang New Area

Liangjiang New Area is the first national level development area in inland China, and the third nationwide after Shanghai Pudong New Area and Tianjian Binhai New Area.

Contact:

Tel: 8623-67573888   8623-67573997

Website: http://english.liangjiang.gov.cn/