Construction recently began on the second phase of the city's biggest foreign related business district, the Chongqing Daily reported.

With an overall investment of 1.77 billion yuan, and a total area of 175,000 square meters, the second phase project includes the Chongqing Hilton Hotel, Chongqing Leisure Business Street and two 5A office buildings.

The project is expected to finish construction by the end of 2018. By then, the complex will be an international business and leisure center in Chongqing.

The complex is a major project approved by the Chongqing Municipal Government, and enjoys convenient transportation. To date, the Overseas Chinese Affairs Building, a phase one project of the business district, has been opened, and the Italian Business Council, BMW Motorcycles and LG CHEM have signed agreements for settling in the district.

With the social and economic development of Chongqing, more foreign-funded enterprises are establishing subsidiaries there, and attracting overseas talent from abroad.

Chongqing has over 260 of the World’s Top 500 companies, with more than 8,000 resident foreign expats. Building foreign business districts is an important step in Chongqing’s opening up.