Jiulongpo: Top area for investment in Chongqing

The Jiulongpo district topped all other districts in Chongqing at the 15th China (Chongqing) International Investment and Global Sourcing Fair in May in terms of total investment programs.

During the fair, domestic and foreign enterprises have voiced optimism about the future prospects for the district's development.

"Chongqing has great potential as a hub for the future development of China's western areas. And Jiulongpo is the core area of the municipality, having a good industrial foundation and broad investment prospects. That is the main reason why we decided to invest in the district," said Yao Qiuming, general manager from the China Guangdong Nuclear Power Holding Co Ltd.

"Capital will naturally flow to the areas with better investment environments. Jiulongpo district is showing a very good momentum of development and has abundant business opportunities. We are fully confident about our investment in the district," said Wu Zhaozhai, the director of the board of the Hong Kong-based Chuang'an Group.

Pan Huizhong, manager of the Borui Investment Company, said the district has made a lot of efforts to refine the investment environment for foreign and domestic enterprises and the government has taken the initiative to improve services to enterprises.

The district has emphasized high-tech industries and modern logistics by enacting a series of polices to encourage the development of these sectors.

At this year's International Investment and Global Sourcing Fair, the district government launched four major investment programs at the municipal level.

French retail group Auchan plans to invest $30 million in a retail chain project in the high-tech zone of the district. The Chuang'an Group is going to invest a total of $250 million to build a logistics program in the Hangu township of the district.

Shanghai GM, the joint venture of China's SAIC Motors and General Motors, expects to build its new plants and supporting facilities in the Xipeng industrial park, and China Guangdong Nuclear Power Holding Co Ltd will locate its energy-saving industrial program in the industrial park.

Other investment programs that have been introduced into the district during the fair include the sectors of real estate, finance, trade and education.

Other multibillion-yuan projects include a real estate program signed between Beijing real estate developers and the high-tech zone involving a total investment of 4.5 billion yuan.

The Jiulong Industrial Park will also team with Dalian Wanda Group to build a modern commercial center inside the park.

The Borui Investment Company will provide small loans to enterprises. The company will also introduce strategic investors to encourage a boom in the district's capital market.

xuwei@chinadaily.com.cn

(China Daily 07/20/2012 page7)