Chongqing government statistics show that direct foreign investment in the municipality rose by 48 per cent to US$4.04bn last year, the biggest growth in the country for the second year running. Mayor Huang Qifan is confident that the figure will rise to US$5bn this year.

Meanwhile, Chongqing’s GDP grew 19.3 per cent year-on-year in the first quarter of 2010 to stand at Rmb169.89bn. Its growth rate was the third highest in China, 7.4 per cent higher than the national average.