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The 16th CCISF Attracted Thousands of MNCs with RMB 707.7 Billion

The 4-day 16th China Chongqing International Investment and Global Sourcing Fair (CCISF in short) saw participants signing deals worth RMB 707.735 billion and thousands of multinational corporations (MNCs) gathering in Chongqing. 
 
The fair hosted more than 1,600 MNCs, including 235 of the Fortune 500, along with 1,265 high-caliber guests. Among them, there are 36 top bosses of central government corporations, large state-owned companies and private companies from China, 211 heavyweight foreign politicians and tycoons of Fortune 500 companies above the China VP level, 29 consuls, counselors and business officials from 23 countries (regions), more than 50 domestic and foreign government delegations and approximately 1,500 important businesspeople from 45 countries. 
 
Among the central government-owned companies from China, the Power Construction Corporation of China signed a 8-billion RMB power construction project with Bishan county; Huaneng Group signed a letter of cooperation intent on the 3-billion RMB hydropower project with Wuxi county; China Power Investment Corporation drafted its 4.8-billion RMB investment in the second phase of the Shuanghuai Power Plant in Hechuan district; Shenhua Group signed the 5-billion RMB relocation project of the Chongqing Power Plant with Hechuan district; and China North Industries Group Corporation entered a framework agreement with the Public Security Bureau and Traffic Commission of Chongqing for the Beidou Satellite System. Amidst the Fortune 500 corporations, BASF SE proposed to help Chongqing build a 100-billion RMB petrochemical industry cluster; Linde and Praxair intended to expand their investments and west China HQs in Chongqing; Posco wished to scale up its automobile sheet steel business and capacity; Sumitomo Bank planned to further expand its financial service in town; while Doosan Group promised to study the feasibility of investing in Chongqing. New products and technologies were brought to the fair as well. ASUS launched the 3-screen solution alongside the latest tablet PCs and cell phones. Toshiba showcased its smart-community solution. Hankook Tire released its multi-function, all-terrain SUV tires. Haier presented the world's first motion-controlled air conditioner of "green intelligence" and the first condensing gas water heater using the technology of protecting against carbon monoxide and methane poisoning in the world.
 
This year's CCISF touted 654 deals signed for investments totaling 707.735 billion RMB. The city of Chongqing signed 440 deals for 552.435 billion RMB investments, including 315 projects from domestic investors and 125 projects from foreign investors, the latter of which totaled 27.278 billion USD in investments. Other provinces and cities signed 214 projects for investments of 155.3 billion RMB, accounting for 21.9% of the total. Such participation of outside forces showed the increasing influences that the CCISF is exerting. 
 
To step up the opening of inland China and boost the international clout of Chongqing, the organization committee kicked off the landmark China International Cooperation Forum on Opening the Inland. Over 20 specialty sessions in economics and trade were held to discuss the latest and help Chongqing better develop according to its status quo. 
 
The economic and trade cooperation along the Chongqing-Xinjiang-Europe International Trade Channel has boosted the trade cooperation among countries by the route. Institutions and business associations from 10 countries in Europe and Asia such as Italy, Germany, Belgium and Russia built consensus on developing strategic framework for multilateral cooperation, reducing railway costs and increasing cooperation in trade.
 
The Invest in Europe and America Match Making session has assisted the local corporations' efforts to establish footprints on the global map. Chongqing jointed force with 4 European countries and 8 provinces/states from US and Canada to promote investment opportunities in Europe and America, as a result of which the local Kangde Group has successfully signed up to purchase a Spanish hotel.
 
E-commerce, on the other hand, has shown the potentials of increasing trade by changing the ways of doing business. Guests from Mexico, Russia and Columbia among other countries signed 110-million USD deals via the E-commerce Procurement Talks with over 100 local companies like Carpenter Tan and Swell Sanitary Ware.
 
Cooperation in agricultural industrialization has steered the practice to balance urban and rural developments. Deals for 6 projects including the Demo Qijiang Foodstuff Processing Park, with investments totaling 2.3 billion RMB, were established between Qijiang district, Banan district and Rongchang county and COFCO and CP Group among others.
 
Trade and cooperation were also enhanced between Midwestern China and other emerging markets. Peru, Lithuania and Mexico explored with Chongqing "the new opportunities of trade and cooperation between China and Emerging Markets" in the hope of strengthening trade and collaboration. Chongqing SOKON Motor Holding Imp & Exp Company Limited showed interest in cooperation right on the spot.
 
Chongqing and Taiwan joined hands to build the first platform for investments from Taiwan in western China. Vice chairman of Taiwan Democratic Self-Government League, Huang Zhixian discussed the policies and measures with representatives across the strait, while the Chongqing Institute for Cross-Strait Economics was inaugurated. The Framework Agreement for Strategic Cooperation to Boost Yongchuan Passenger Transportation Development was signed at the railway economic cooperation session between Chongqing and Taiwan. 
   

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