Chongqing welcomes global investment

Southwest China's Chongqing municipality aims to attract 200 billion yuan ($28.04 billion) of investment in 10 areas this year, according to a press conference about investment promotion held on May 20.

The 10 areas include the next generation of information technology, new infrastructure construction, high-end equipment manufacturing, new materials, the biological industry, new energy vehicles, environmental protection, digital creativity, new consumption, and science equipment.

Chongqing plans to implement at least 40 projects from State-owned companies, 500 projects from private companies and 50 from foreign companies, as well as sign 1 trillion yuan of formal project contacts, 45 percent of which should be industrial projects.

Since the COVID-19 outbreak, Chongqing has launched online services to promote investment. During the first four months of this year, Chongqing signed 492 projects worth 295 billion yuan, including 247 industrial projects with 46.9 billion yuan of funds in place.

Last year, Chongqing signed 2,158 projects with formal contracts, including 323 projects above 1-billion-yuan level, 28 projects above 10-billion-yuan level, and six with Global Fortune 500 companies.