Foreign enterprises drive sustainability and development in Chongqing

IKEA Chongqing Store in Liangjiang New Area. [Photo by Wang Yantong]

Seventy-year-old Yang Shunlan, a resident of Chongqing's largest public housing community, Minxin Jiayuan, recently had her living conditions significantly improved. Through the Concentric Circles of Home project, her home has been upgraded with brand-new furniture and age-friendly facilities. 

This initiative, supported by a foreign enterprise and local participants, exemplifies the growing integration of global businesses into local communities. 

The Concentric Circles of Home is a collaborative effort between IKEA, Sichuan Fine Arts Institute, and Jinshan subdistrict of Liangjiang New Area. The project focuses on enhancing living conditions for vulnerable groups, particularly the elderly and children. 

William You, Store Sustainability Leader at IKEA Chongqing, highlighted that child-friendliness, elderly care, and accessibility for people with disabilities are central to IKEA's sustainability strategy in China. "These focus areas align with our mission to create better everyday lives for people," he said. 

IKEA, the global home furnishing giant, entered the Chongqing market in 2014. By partnering with local authorities and organizations, IKEA contributes to social welfare and deepens its connection with local communities, said Eric Kong, IKEA's business leader. 

Localization efforts are also reflected in product development. According to Kong, IKEA plans to develop more products tailored to the Chinese market, such as a new line of age-friendly bathroom products designed by IKEA Shanghai to meet the needs of elderly consumers. This follows the team's latest Chinese Spring Festival Collection, which resonated with Chinese customers.

Kong said closer collaboration will be established with local authorities and organizations in Chongqing. He credited the local government's strong support and the enabling business environment as key factors in IKEA's decision to invest further. 

IKEA's presence in Liangjiang underscores the region's appeal to foreign investors. The area is the first development and opening-up zone in inland China, drawing major international companies as China's market continues to open up.

In February, Adient, a global leader in automotive seating, celebrated the completion of its China Technical Center expansion in Liangjiang. Jerome Dorlack, Adient's president and CEO, said, "We are confident in the future of China's automotive industry, and this expansion underscores our continued investment in the market." 

Similarly, Daniel Tseng, president and general manager of Corning Display Technologies China, expressed confidence in Chongqing's business environment in his interview with People's Daily. Tseng said," Corning has been developing in Chongqing for nearly 10 years. During this period, we benefited greatly from Chongqing's initiatives and execution in continuously optimizing its business environment."

By the end of 2024, Corning had invested around $1.5 billion in Chongqing, with major projects in Liangjiang.

Liangjiang is currently home to 41 international organizations and 190 Fortune Global 500 companies, accounting for 30 percent of Chongqing's actual foreign capital utilization.