The 5th WCIFIT | Chongqing Signs 84 Projects, Bringing in RMB285.415 Billion.

On May 18, the Signing of Central SOEs - Chongqing Cooperation and Key Projects of the 5th Western China International Fair for Investment and Trade (hereafter referred to as the 5th WCIFIT) was held at Chongqing Yuelai International Convention Center. 。

Chongqing signed 84 projects with contracted investment of RMB285.415 billion, injecting new momentum into the city's development. Among them, Chongqing Municipal People's Government signed strategic-cooperation agreements with four central SOEs: China South Industries Group Corporation, China COSCO Shipping Corporation Limited, China Energy Conservation and Environmental Protection Group, and China Logistics Group.

This round of signed projects shows three characteristics:

First, there is a significant rise in project level. This WCIFIT's signed projects achieve full coverage of all districts, counties, and development and opening-up zones across Chongqing; projects exceeding RMB1 billion reach 56, making up 66.7% of the total signed projects. Among them are six projects of RMB10 billion, sixteen of RMB5 billion, and thirty-four of RMB1 billion. The average investment per project is RMB3.4 billion, RMB840 million higher than the average of the previous four WCIFIT sessions.

Second, the investors demonstrate exceptional strength and capabilities. Central SOEs invested in 45 projects with contracted capital of RMB162.635 billion, accounting for 56.9% of the total. Private enterprises invested in 29 projects with contracted capital of RMB63.34 billion, representing 22.1% of the total. Other SOEs invested in 7 projects with contracted capital of RMB57.34 billion, accounting for 20.0% of the total. Foreign enterprises invested in 3 projects with contracted capital of RMB2.1 billion, representing 1.0% of the total.

Third, the cooperation is anchored in real-economy sectors. Projects undertaken by central SOEs concentrate on six key areas which include the joint construction of a national strategic rear base, the co-establishment of advanced manufacturing clusters, the shared development of a western China digital economy powerhouse, the deepening of state-owned enterprise and state-capital reforms, the reinforcement of energy exploration and utilization, and the collaborative advancement of New International Land-Sea Trade Corridor. Investment projects with non-central SOEs center on intelligent connected new energy vehicles, advanced materials, smart equipment, energy, and the food and agricultural-product processing sectors.

In addition, four projects from Sichuan, Hunan and other provinces were signed at the 5th WCIFIT, with contracted investment totaling RMB5.32 billion.

In recent years, the WCIFIT has evolved into an open platform driving regional collaboration and foreign trade. Its brand keeps gaining prominence, and more premium projects from Chongqing and beyond are now reaching agreement and being signed and delivered at the event.

Upstream News reporters learned from the Chongqing Municipal Commission of Commerce that the first four editions of WCIFIT concluded 945 projects with a combined contracted investment of RMB1,664.14 billion. A considerable number of these projects have already borne fruit and are powering Chongqing's economic advance.

Source: Upstream News (www.cqcb.com)