Chongqing Perspective | Why Is the "Western" Attraction of the WCIFIT So Strong?

 

As the period of Grain Buds passes, all things thrive in harmony. On May 22, the 7th Western China International Fair for Investment and Trade (WCIFIT) opened in Chongqing. Guests and exhibitors from numerous countries and regions around the world gathered in this "Mountain City" Chongqing to renew friendships, discuss cooperation, and seek opportunities.

Joining hands with the west for a brighter future. WCIFIT is one of the most dynamic and influential international events in western China. It has been successfully held for seven sessions and is increasingly becoming a vital window to showcase the modernization achievements of the Western China, a key platform to share development opportunities between western China and the world, and an important bridge connecting domestic and international investment and trade.

At present, unilateralism and bullying practices are rampant, and uncertainties in the global economic and trade situation are on the rise. Against this backdrop, the highly anticipated WCIFIT is being held as scheduled, demonstrating growing "Western" attraction with its openness against various uncertainties.

▲The 7th WCIFIT opens, the morning of May 22. Photograph courtesy of reporter Liu Li / Visual Chongqing

The increasing "Western" attraction of the WCIFIT is attributed to the growing openness of the Western China.

The WCIFIT is a national-level and international event centered in Chongqing, with its foundation lying in the Western China, which boasts immense development potential. It accounts for 72% of China's land area and 27% of its population, playing a crucial role in the country's reform and opening-up, as well as stable development.

The openness of Western China can be directly perceived through data. In the first quarter of this year, the import and export volume of the central and western China reached RMB1.84 trillion, up 8.7%, 7.4 percentage points higher than the national overall growth rate. Its share in the national total also increased by 1.2 percentage points year-on-year to 17.9%, indicating a sound development momentum.

Taking the New International Land-Sea Trade Corridor, an international logistics "artery," as an example. Currently, this corridor has reached 563 ports in 127 countries and regions, transporting over 1,250 categories of goods and further unleashing the foreign trade potential of the central and western China. In the first quarter of this year, the total import and export value of the "13+2" provinces, autonomous regions, municipalities and cities along the New International Land-Sea Trade Corridor via the new corridor exceeded RMB200 billion, up more than 10% year-on-year, hitting a record high in scale.

By promoting large-scale development through greater openness, the Western China has enhanced the "Western" attraction of the WCIFIT. Over the past seven years, the WCIFIT has resonated in step with Western China, becoming an important platform for the country's joint construction of the Belt and Road Initiative and the advancement of the Western Development. It has witnessed the transformation of Western China, including Chongqing, from "inland hinterlands" to "open frontiers", and ushered in new development spaces.

Look! Political leaders and experts from various countries have gathered to deepen exchanges and mutual learning; cutting-edge technologies and innovative applications are constantly emerging, promoting industrial integration; resource matchmaking and project signings are ongoing, boosting investment and trade; Both online and offline exhibitions and sales are bringing together global high-quality products... Today's WCIFIT offers broad development prospects and is full of vitality.

It is worth mentioning that in April last year, General Secretary Xi Jinping inspected Chongqing and endowed the municipality with the "Two Major Orientations" of striving to build itself into an important strategic pivot for the Western Development and a comprehensive hub for inland opening-up. This provided fundamental guidance for Chongqing to base itself in Western China and serve the overall national interests, bringing significant strategic opportunities.

It is not difficult to see that the "Two Major Orientations" are closely related to Western China and openness, placing high hopes on Chongqing to take the lead in opening up and drive openness in the Western China. And the WCIFIT is precisely an important means for Chongqing to fulfill these "Two Major Orientations."

▲Qingling Motors, in collaboration with Huawei Digital Power, unveils the world's first megawatt-level ultra-fast charging heavy-duty truck - Lingjie at the Chongqing International Expo Center. Photograph courtesy of reporter Xie Zhiqiang / Visual Chongqing

The increasing "Western" attraction of the WCIFIT is primarily due to the ever-rising platform caliber.

What exactly reflects the "gold content" of the platform caliber of the WCIFIT?

High volume of signings. With 124 signed projects and a total contract value exceeding RMB200 billion... These are the "big deals" secured in the major project signings at this edition of the WCIFIT. Among them, nearly 100 major projects with a contract value of over RMB1 billion each were signed, and 62 projects were introduced from global and Fortune China 500 companies, enterprises that are specialized, refined, distinctive and innovative, industry-leading enterprises, and listed companies, demonstrating remarkable achievements in investment attraction.

In addition, during the WCIFIT, multiple districts and counties in Chongqing will also carry out project signings, with an expected total contract value exceeding RMB100 billion. A series of signings have gathered global high-quality resources and promoted the implementation of a large number of leading and highly influential projects in Western China, which will inject new impetus into the high-quality development of the regional economy.

Full of "innovation". This year's WCIFIT is brimming with "innovation". For example, Hong Kong has become the first guest city of honor of the WCIFIT, hosting a series of economic and trade activities in collaboration with Chongqing to continuously deepen Chongqing-Hong Kong cooperation. The officially unveiled China-South Korea Future Design Co-Creation Platform is the result of the first in-depth cooperation between Chongqing and South Korean design organizations, indicating that Chongqing's international "circle of friends" as the City of Design is expanding.

For another example, the "Chongqing Products Gather Online" E-Commerce Resource Matchmaking Conference was held for the first time in collaboration with the WCIFIT for the first time, bringing together more than 400 brand enterprises, over 100 MCN agencies, more than 200 livestream hosts and influencers, over 50 private domain leaders, and more than 200 upstream and downstream industrial chain enterprises to build a platform for connecting Chongqing's industries and products with the entire e-commerce chain of resources.

Strong connectivity. "A single flower does not make spring, while a hundred flowers in full blossom bring spring to the garden." The WCIFIT serves as a platform not only for strengthening cooperation among western provinces but also for enhancing connectivity with the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area, as well as for deepening international economic and trade multilateral cooperation.

For instance, focusing on stabilizing foreign investment, foreign trade, and consumption promotion, the WCIFIT has collaborated with relevant national ministries and commissions, such as the Ministry of Commerce, and leveraged resources from national-level exhibitions to strengthen the three major platform functions of the WCIFIT in investment promotion, trade cooperation, and consumption stimulation, continuously amplifying the spillover effects of the fair.

▲The Thai Pavilion bustles with visitors at the Chongqing International Expo Center. Photograph courtesy of reporter Xie Zhiqiang / Visual Chongqing

The increasing "Western" attraction of the WCIFIT is attributed to the ever-improving event organization standards.

"Organizing the WCIFIT to high standards" is included in this year's report on the work of the of Chongqing Municipal People's Government and is a mandatory task for the municipality.

Exhibitions are held every year, but how can they be organized better and better? Chongqing's approach centers on perfecting the "Three Dimensions" (marketization, internationalization, and specialization), embedding meticulous care into every detail of this grand event.

Specialization for enhanced services. Organizing a successful exhibition is a systematic project requiring comprehensive professional support. This year's WCIFIT demonstrates Chongqing's expertise in major event coordination, conference logistics, supporting activities, and public engagement from preparation to execution.

For instance, the professional displays are closely aligned with public needs, featuring innovative technologies and services from leading enterprises alongside social organizations' pioneering elderly-care solutions. The supply-demand matching has been refined, with over 100 companies from 20+ countries/regions releasing procurement demands and an equal number of local buyers invited for targeted pairing, ensuring a "two-way convergence" between suppliers and purchasers.

Marketization for sustainable development. The key to ensuring the fair's sustainability lies in adhering to market-oriented approaches that fully activate its internal dynamism. A highlight of this year's WCIFIT is its innovative mechanisms to elevate marketization.

These include establishing a virtuous cycle of "global sourcing - local transformation - industrial upgrading" to enhance trade-matching efficiency and convert international exhibitors into regional investment partners; creating an "industry leaders driving growth + ecosystem co-creation" model through market-driven operations to forge long-term partnerships with renowned enterprises; and developing an "exhibitor concessions - public benefits - platform efficiency enhancement" interaction mechanism to reconstruct the exhibition value chain with market logic, fostering new exhibition economy paradigms.

Internationalization for distinctive branding. As an inherently international event, WCIFIT's global orientation defines both its strategic positioning and unique character, making it Chongqing's "golden name card" for open cooperation as the municipality builds itself into a leading zone for international cooperation in inland opening-up.

From distinguished guests and featured exhibitors to foreign investments, international trade activities, and country pavilions, this year's WCIFIT radiates cosmopolitan sophistication. It offers fresh opportunities for western China to integrate into global industrial, supply, and value chains while further burnishing WCIFIT's international brand image.

Sharing the opportunities of the WCIFIT for a better future together. We expect that through this high-caliber platform, all participants can reach a consensus on mutual benefit and win-win cooperation, facilitate more cross-border collaborations, and inject more certainty into the high-quality development of international economic and trade.

Source: New Chongqing - Chongqing Daily