Chongqing - On October 21, Chongqing hosted the National Development and Reform Commission and U.S. Multinational Enterprises Roundtable Meeting · Chongqing, which resulted in the signing of six key projects worth 7.57 billion yuan (USD 1.06 billion). The agreements span bio-energy, equipment manufacturing, and modern services.
The signing ceremony highlighted six major projects, including a green and low-carbon partnership between the U.S. Energy Foundation Beijing Office and Chongqing Municipal Development and Reform Commission, focusing on low-carbon capacity building, renewable energy, and technology fairs.
South Korea's Sentry HK Holdings Limited and Western (Chongqing) Science City inked a deal to establish Eco Prime Headquarters China with a 560 million yuan investment.
Additionally, Domino's Pizza, an American multinational chain, signed an agreement with Yuzhong District to open its first store in Chongqing, located in Jiefangbei. Plans for expansion include Jiangbeizui CBD, Guanyinqiao Pedestrian Street, Jiulongpo, and Yubei Districts, with a total investment of 10 million yuan.
American company Aero Momentum LLC signed an agreement with Yubei District for a General Aviation Aircraft and Supply Chain project. This venture, valued at 2 billion yuan, will establish a manufacturing base for light aircraft, large drones, and full aircraft assembly, covering the entire lifecycle from design to sales and maintenance.
Meanwhile, Singapore's AirAsia Helicopter Company signed an agreement with Bishan District to establish the Singapore Civil Light Helicopter R&D and Production Headquarters (China) Base. The investment of 3 billion yuan will support production lines, R&D centers, civil aviation training schools, and maintenance facilities.
Hong Kong Confident Sino Three Limited and Shapingba District will establish the Cross-Border RMB Equity Investment Fund, which will attract overseas capital to emerging industries with a 2 billion yuan investment.
The event attracted over 60 multinational enterprises from the U.S., Europe, Japan, and South Korea, with representatives expressing strong interest in expanding cooperation with Chongqing.
"Based on Cummins' 30 years of development in Chongqing, we are looking forward to further cooperation in alignment with the city's strategic direction," said Yuan Jun, general manager of Chongqing Cummins Engine Co., Ltd.
Shen Jianping, CEO of Sentry HK Holdings Limited, expressed enthusiasm for joint research and development in biomass diesel technology, while Sophie Zhao, general manager of Corporate Affairs, Walmart China, Chongqing, highlighted Walmart's commitment to partnering with Chongqing to support the city's development as an international consumption center.
In recent years, Chongqing has made significant strides in building an inland opening-up hub, ranking among the top in western China for foreign trade imports and exports, as well as the use of foreign investment. The city is home to 319 Fortune 500 enterprises.
Notably, Chongqing Liangjiang New Area has attracted more than 1,300 foreign-funded enterprises, including over 60 U.S.-funded companies, with total imports and exports reaching 265.6 billion yuan in 2023. Yuzhong District, another central area for investment, has attracted 143 Fortune 500 companies and nearly 300 international brands, making it a vibrant hub for global business.