Foreign trade booms in Chongqing

In the first half of 2012, Chongqing’s import and export increased 174% by year on year, with its growth rate ranking the 1st nationwide, and foreign investment in actual use of Chongqing rose by 20.11% from a year ago. By now, together with the five newly-introduced enterprises in the first six months of 2012, Chongqing has 225 Fortune 500 enterprises in total, ranking the 1st in west China.

Chongqing’s fast-growing foreign trade tremendously promoted the rapid development of Chongqing economy in the first half of 2012, according to Chongqing Foreign Trade & Economic Relations Commission.

In the first six months of 2012, Chongqing boasted import and export volume of 25.04 billion US dollars, including exports of 10.13-billion-USD laptops which accounted for over 40% of the total.

In addition, Chongqing also saw some changes in its major foreign trade partners with ASEAN outpacing the United States to be the second largest trade partner of Chongqing.

Chongqing’s imports from and exports to the three emerging markets in Middle East, Latin America and Africa have increased respectively to 970 million US dollars, 1.89 billion US dollars and 1.28 billion US dollars, and the total import and export value in the emerging market amounted to 9.06 billion US dollars, 184.3% higher year on year.

Chongqing secured foreign investment in actual use of 3.506 billion US dollars. Two Fortune 500 enterprises like ADECCO from Switzerland and Ingersoll Rand from the U.S. as well as three centrally-administered SOEs listed among Fortune 500 settled in Chongqing in the first half of 2012.

At the same time, Chongqing will also provide some policies like encouragement policies for transnational corporations to propel the upgrading of the foreign investment.

Huang Xiqin