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Foreign trade and FDI soar in Chongqing

20 July 2011
The value of Chongqing’s imports and exports totalled US$9.15bn in the first half of 2011, up 78 per cent on the same period of 2010, according to municipal customs data. The national average foreign trade growth rate was put at 25.8 per cent over the same period.

Mr Wang Yi, Director of Foreign Trade and Investment Commission of Chongqing Municipal Government, said that Chongqing utilised nearly US$3bn worth of foreign direct investment (FDI) during the first half of the year, up 137 per cent year-on-year. This is the largest FDI growth in China over the period. Nearly half of the inward investment projects are located in the Liang Jiang New Area. Of all the new projects, nearly 70 per cent take the form of wholly-owned foreign companies.

The city currently has more than 4,500 companies involved in foreign trade, eight of which boast an annual export value of US$100m each. Laptops and accessories have replaced motorbikes to become the city’s number one manufactured item with an annual export value of US$2bn.

     
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