On October 21, the city of Chongqing engaged in discussions with participating companies during the “National Development and Reform Commission and U.S. Multinational Corporations High-Level Roundtable – Chongqing Session.” A total of six foreign investment projects were signed, with a combined value of 75.7 billion yuan (approximately $10.5 billion).
These agreements span various sectors, including bioenergy, equipment manufacturing, and modern services. Notably, AM Corporation from the U.S. inked a deal with the Yubei District of Chongqing for a “General Aviation Aircraft and Supply Chain Project.” This project 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’s Beijing office signed a “Memorandum of Understanding on Green and Low-Carbon Development” with the Chongqing Municipal Development and Reform Commission. This partnership will focus on low-carbon capacity building, the cyclical transformation of new chemical parks, and the high-proportion integration of renewable energy. They also plan to assist in organizing low-carbon technology and product trade exhibitions, as well as conducting training and exchange visits.
According to insights shared at the event, Chongqing has consistently ranked among the top in China’s western region for foreign trade imports and exports, as well as actual foreign investment utilization, with 319 Fortune 500 companies establishing a presence in the city. Representatives from several multinational firms praised Chongqing’s business environment and expressed their hopes for deeper collaboration, recognizing the abundant opportunities it presents.
Cummins, a power system supplier, established its first localized production facility in China, the Chongqing Cummins Engine Company, in 1995. General Manager Yuan Jun shared that since then, the company has achieved approximately 54 billion yuan in sales and contributed 5.2 billion yuan in taxes. In 2022, the company launched a state-of-the-art, high-horsepower R&D and manufacturing base in Chongqing, which will continue to enhance product innovation and invest in digital transformation.
Zhao Shenqingyu, Regional General Manager of Walmart (China), noted that the company’s relationship with Chongqing dates back to 2005. Walmart currently operates several hypermarkets and Sam’s Club locations, as well as multiple rapid delivery cloud warehouses in the region. “Chongqing has clear geographical advantages, and its business environment is continuously improving and evolving. We look forward to further deepening our collaboration with Chongqing to achieve high-quality growth together,” Zhao stated.
