By tf-lawyer.com Chongqing, October 21 (Reporter Zhong Yi) – On October 21, the city of Chongqing engaged in meaningful discussions with companies attending the “National Development and Reform Commission and U.S. Multinational Enterprises High-Level Roundtable – Chongqing Session.” During the event, six foreign investment projects were signed, amounting to a total of 7.57 billion yuan (approximately 1.06 billion USD).
These signed projects span across several sectors including bioenergy, equipment manufacturing, and modern services. Notably, American company AM has signed a deal with Chongqing’s Yubei District for a “General Aviation Aircraft and Supply Chain Project.” This initiative aims to establish a manufacturing base for light aircraft, large drones, and complete aircraft assembly, covering the entire lifecycle from design and manufacturing to sales and maintenance.
Additionally, the Energy Foundation (U.S.) Beijing office signed a memorandum of understanding with the Chongqing Development and Reform Commission focusing on green low-carbon development research. The collaboration will involve building low-carbon capabilities, transforming new chemical parks into circular economies, and facilitating high proportions of renewable energy transformation. The partnership will also assist in organizing low-carbon technology product trade shows and implementing training and exchange visits.
From the conference, it was revealed that in recent years, Chongqing has maintained a leading position in international trade and foreign investment in western China, with a total of 319 Fortune 500 companies having established operations in the city. Representatives from several multinational companies praised Chongqing’s business environment and expressed eagerness for deeper cooperation given the opportunities it presents.
Cummins, a power system supplier, established its first localized production enterprise in China in Chongqing in 1995—Chongqing Cummins Engine Co., Ltd. General Manager Yuan Jun shared that since its joint venture began, Chongqing Cummins has recorded total sales of approximately 54 billion yuan and contributed 5.2 billion yuan in taxes. In 2022, the company launched a cutting-edge high-horsepower research and manufacturing base in Chongqing, and it plans to continue investing in digitalization while enhancing product innovation.
Zhao Shenqingyu, Regional General Manager of Walmart (China) Corporate Affairs, noted that Walmart’s relationship with Chongqing began in 2005. The company currently operates several Walmart hypermarkets and Sam’s Club stores in the city, as well as multiple rapid delivery warehouses. “Chongqing has clear geographical advantages, and its business environment is continuously improving, offering vast development prospects. We look forward to furthering our cooperation with Chongqing to achieve high-quality development together,” stated Zhao.
