WCIFIT spurs regional economic growth and global ties

The seventh Western China International Investment and Trade Fair (WCIFIT) will be held from May 22 to 25 in Liangjiang New Area, Chongqing. 

As a high-profile international event, it serves as a crucial platform for trade cooperation, investment promotion, and domestic and international collaboration.

The WCIFIT provides substantial momentum for Chongqing's economic growth. According to an official from the Chongqing Municipal Commerce Commission, the first six sessions secured over 1,200 contracted projects with total investments exceeding 2 trillion yuan ($277.67 billion). 

The seventh WCIFIT will be held from May 22 to 25 in Liangjiang. [Photo by Wang Jiaxi]

The sixth WCIFIT saw 196 major investment projects signed, with 63 percent of the contracted amount attributed to projects under Chongqing's modern manufacturing cluster system. Three "trillion-yuan-level" industries in Chongqing, namely intelligent connected new energy vehicles, next-generation electronics manufacturing, and advanced materials, secured 62 projects amounting to 110.6 billion yuan.

International participation remains a hallmark of the WCIFIT. Each of the past six sessions has drawn representatives from all over the world.

The sixth edition attracted enterprise delegates from 40 countries and regions. At the WCIFIT international pavilion, countries such as Russia, South Korea, Australia, Poland, Vietnam, and Malaysia showcased specialty products like coffee, fruits, cosmetics, and handicrafts. 

"Inviting global businesses for face-to-face negotiations is one of the most effective ways to facilitate investment," said Mou Zhen, secretary-general of the Chongqing Exhibition Industry Association.

The WCIFIT has connected numerous international enterprises with local companies, institutions, and districts. Twelve foreign-funded projects totaling 26.7 billion yuan have been signed at the sixth WCIFIT, involving 12 countries and regions, including Singapore and Germany.

As the WCIFIT host area, Liangjiang New Area has cumulatively harvested projects worth over 50 billion yuan. During the sixth session alone, the area secured 13 projects valued at 6.89 billion yuan. Projects span automotives, advanced materials, life sciences, producer services, and new energy storage sectors, providing robust momentum for building a modern industrial system.