As the only municipality in west China, Chongqing has a significant advantage in attracting foreign-invested enterprises, according to an evaluation report of foreign investment in Chongqing released on Jan 17, 2019.
The report is based on 825 questionnaires taken by a total of 133 Fortune Global 500 enterprises, including Ford, Hewlett-Packard, Honeywell, Ericsson, and Metro AG.
The report shows that in terms of infrastructure, market environment, policies, as well as government service environment and living environment, these enterprises have a high overall opinion of Chongqing.
These enterprises are mainly located in central urban Chongqing, primarily within the large expanse of Liangjiang New Area.
Chongqing boasts an effective model for attracting and utilizing foreign capital. The annual usage of foreign capital has exceed over $10 billion for eight consecutive years, and it continues to maintain its leading position in central and western China in foreign direct investment (FDI).
Of the foreign-invested companies preparing to invest in Chongqing, 28 percent hope to simplify or speed up the approval process, 23 percent hope the government will provide more financial support, 12 percent hope to eliminate supervision and policy barriers, and 14 percent hope to have a larger supply of skilled workers.
According to the municipal commerce committee, in the first quarter of 2019, Chongqing registered 49 new foreign invested enterprises, with an actual usage of foreign investment of $2.47 billion, up 1.92 percent year-on-year. The foreign direct investment deals totaled $413 million, surging by 5.93 percent compared with the previous year.