MNCs confident in Chongqing market

According to the latest report on the development of multinational corporations in Chongqing, 322 Fortune Global 500 companies have established operations in the city, with intelligent connected new energy vehicles, electronic information manufacturing, and the low-altitude economy being the most active sectors.

The report highlighted that multinational corporations are the backbone of Chongqing's export-oriented economy, driving industrial upgrading and internationalization with capital inflows, advanced technologies, and management expertise. 

A trend in Chongqing's multinational corporations is their strategic shift toward high-value-added sectors. Centered on regional sales, these corporations have localized production to reduce costs when entering the Chongqing market, using the city's industrial chain advantages and demographic dividends. 

Chongqing is home to world-class R&D platforms, featuring local vehicle innovators such as Changan Automobile and Seres, as well as multinational suppliers like Bosch, Magna, and NXP Semiconductors. These corporations drive technological advancements in automotive manufacturing and the city's emergence as a hub for cutting-edge applications in intelligent connected new energy vehicles.

Chongqing is a hotbed for foreign investment. [Photo by Wang Jiaxi] 

The report also surveyed more than 10 multinational corporations from countries including the United States, Germany, and Denmark, reflecting their perspectives on development in China and Chongqing. All surveyed corporations remain optimistic about the Chinese market, particularly the growth potential and supply chain strengths of Chongqing.

Key factors include Chongqing's efficient governance, tailored supporting policies, and the city's evolving industrial ecosystems and supply chains. Challenges yet remain, such as technological modernization and cross-cultural integration. Corporations seek stronger policy incentives and R&D support, urging collaborative innovation with local stakeholders to advance high-quality growth.

The report launch event was hosted in Liangjiang New Area, one of Chongqing's most active areas for foreign corporations and institutions. The area is home to 41 international organizations and 190 Fortune Global 500 companies, accounting for 30 percent of Chongqing's actual foreign capital utilization.