Chengdu-Chongqing Economic Circle Invested ￥322.91 Billion in 2024's First Eight Months

Chongqing - From January to August 2024, 300 major projects in the Chengdu-Chongqing economic circle attracted 322.91 billion yuan (about USD 45.46 billion) in investments, reaching a completion rate of 73.9%, exceeding expectations by 7.2 percentage points, as reported by the Chongqing Municipal Development and Reform Commission on September 12.

Major projects in the Chengdu-Chongqing economic circle make progress in 2024's first eight months. (Graphic/Zheng Ran)

A key achievement is the completion of Chongqing Jiangbei International Airport's fourth runway, which is set to open in early 2025. The expanded airport will feature four runways and four terminals and will handle 80 million passengers, 580,000 aircraft movements, and 1.2 million tons of cargo annually.

This expansion will significantly bolster the airport's capacity, supporting the air traffic in the Chengdu-Chongqing economic circle and demonstrating robust progress in regional infrastructure development.

The Terminal 3A of the Chongqing Jiangbei International Airport. (Photo/Chongqing Jiangbei International Airport)

In addition to the airport project, other key infrastructure developments include the Chongqing-Yibin section of the Chongqing-Kunming high-speed railway entering trial operations and the advancement of the North main drainage canal of the Xiangjiaba Irrigation Project. The Dazhou gas-fired power station's second-phase construction is also underway.

The Chongqing-Kunming high-speed railway, part of China's "eight vertical and eight horizontal" high-speed rail network, spans approximately 700 kilometers from Chongqing to Kunming. 

The Xiangjiaba Irrigation Project complements the Xiangjiaba Hydropower Station on the lower Jinsha River. As China's fifth-largest and the world's ninth-largest hydropower plant, Xiangjiaba is vital for regional irrigation and water management. The irrigation system, a key water conservancy initiative of the Minister of Water Resources, supports both agricultural and urban-rural water needs.

Modern industrial projects have also accelerated, with 101.67 billion yuan invested from January to August, achieving an 83.7% completion rate. Noteworthy projects include the Sichuan-Chongqing Cooperation (Guangan-Hechuan) Biomedical Industrial Park and the Sichuan Mianyang City's Tianyi Shangjia Green Energy New Material Innovation Industrial Park.

The aerial view of Tianyi Shangjia Green Energy New Material Innovation Industrial Park. (Photo/Zhao Ye)

Tianyi Shangjia Industrial Park, supported by carbon fiber and other composites, aims to build a green energy materials industry chain with products used in rail transport, automotive, and photovoltaics. Once completed, it will generate over 10 billion yuan annually, producing 5,000 tons of carbon composites and 200,000 quartz crucibles.

"We are confident about our future growth and will keep investing in high-speed rail brake pads," said Xia Fei, general manager of Mianyang Tianyi Shangjia New Materials Co., Ltd. "Our goal is to become the world's largest producer of carbon composites and expand into new areas like photovoltaic and aerospace components."

Science, technology, and culture investments amount to 15.34 billion yuan and have a 92.7% completion rate. Key projects include the completion of the first national laboratory in the West and the Jinfeng Laboratory and progress on the Dabashan International Tourism Resort.

Ecological, environmental protection, and public service projects have received 13.95 billion yuan in investments and have a 70.2% completion rate, further advancing the region's comprehensive development.