By Tan Yingzi | chinadaily.com.cn | Updated: 2025-05-23
The ongoing Seventh Western China International Fair for Investment and Trade, which began in Chongqing on Thursday, has witnessed the signing of project agreements totaling over 200 billion yuan ($27.8 billion).
The fair aims to enhance cooperation and opening-up efforts in western China. It attracted over 1,300 enterprises from 39 countries and regions, including 56 central State-owned enterprises, 47 Fortune Global 500 companies, 93 multinational corporations, and 286 leading private firms.
Thailand is the guest country of honor, Sichuan province is the permanent guest province, and the Hong Kong Special Administrative Region is a newly added guest city. The event will run until Sunday.
Nearly 170 agreements were signed covering intelligent and connected new energy vehicles, the latest generation of electronic information manufacturing industry, and advanced materials, combining for a formal contract value of nearly 160 billion yuan, according to the organizing committee.
Located on the upper reaches of the Yangtze River, Chongqing boasts key geographic advantages as a strategic pivot point in the national development programs for China’s western regions and the Chengdu-Chongqing Economic Circle. It is also a connecting point for the Belt and Road Initiative and the Yangtze River Economic Belt.
Chongqing’s regional gross domestic product exceeded 3.2 trillion yuan last year, doubling from a decade ago. Between 2020 and 2024, the city’s GDP grew at an average annual rate of 5.6 percent.
Hassan Mohammed, an investment and trade representative from Nigeria, is promoting agricultural products from his country at the event.
“Nigeria has a lot of agricultural products. We encourage Chinese to buy more peanuts and Nigerian farmers to grow more for the Chinese market,” he said.
Lee Sangkeun, director of KOSME Global Business Center in Chongqing, hopes to introduce Chongqing’s new energy cars to the South Korean market.
“We found that Chongqing-made new energy cars are of excellent quality, and we think South Koreans will like them,” he said.
Tang Yu contributed to the story.