CHONGQING, China, July 27, 2022 /PRNewswire/ -- A news report from iChongqing:
The Fourth Western China International Fair for Investment and Trade (WCIFIT) ended up with abundant projects signed between trade and investment companies in China and abroad.
As the host city of the WCIFIT, Chongqing harvested 66 programs with 222.85 billion yuan of contracts, from international investors like Lion City Capital of Singapore, AVA Group and Elion International. An industrial park of cross-border e-commerce will be set here, released by the president of Alliance Investment Management at the Fair.
The WCIFIT was established in 2018 by China's Ministry of Commerce and Chongqing government, for establishing a promotive platform of diplomacy, trade and investment in western China.
For foreign investors, western China means potentially great business opportunities: the west holds 72% of China's lands with 380 million population. Apart from the big cities like Chongqing and Chengdu, a comprehensive and mature international business cooperation here is yet to be nurtured.
The WCIFIT also plays as a small "World Expo". At the Fair, countries and regions display their products from different cultures, in an effort to promote cultural exchange. Jess Seade, Ambassador of Mexico to the People's Republic of China attended the ribbon-cutting ceremony of the Mexican pavilion.
The Fair was held in Chongqing Liangjiang New Area, the third national area after Shanghai Pudong New Area and Tianjin Binhai New Area. Since its foundation in 2010, Liangjiang has led Chongqing and inland China to lift towards a higher level of opening-up.
China's largest sea-rail port Guoyuan Port is in Liangjiang. Located in the upper reaches of the Yangtze River, Guoyuan Port sends out freighters that reach Shanghai and enter the Pacific Ocean. Trains departing from here go eastwards and reach Southeast Asian countries like Vietnam, Laos, and Myanmar, and head westwards to cross Central Asia, and arrive Duisburg, Germany. Recently, the China-Europe Express reported that the 10,000th train has departed from Guoyuan Port to Europe.
Liangjiang New Area is the core region to carry out the third China-Singapore governmental cooperation program. The program lights a new plan to improve international transportation, logistics and finance between China and Southeast Asia.