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Foreign Investment Used in Chongqing in the First Quarter was USD 2.134 Billion

In the first quarter of this year, foreign investment used in Chongqing was USD 2.134 billion, a year-on-year increase of 20.63%, and the total amount set a record high. In the first quarter, total foreign investment used in Chongqing ranked the top in Mid and West China.
    It is reported that Chongqing made a great breakthrough in foreign investment project promotion and model innovation in the first quarter. In terms of project promotion, we sign contracts for settlement of such projects as SK Hynix Project and BDO Project between Sinopec Sichuan Vinylon Works Group (SSVW) and SK Energy Holding Co., Ltd., and facilitate the funds available for construction of industrial parks of Mitsui and Rihui in Liangjiang New Area and the commencement of establishing HKBH Asia-Pacific Green and Intelligent Headquarter in Chongqing.
    As to model innovation, Chongqing has proposed and applied to Ministry of Commerce for implementing a commercial factoring pilot project, and it is expected to start in the first half of 2013. At that time, Chongqing will be the first city to get this qualification in West China. Through establishing a commercial factoring company, the following services valued a lot by foreign-funded enterprises can be provided: trade financing, sales ledger administration, investigation and assessment of customers' credit, management and collection of accounts receivable and credit risk guarantee.
On April 11, Chongqing Customs claimed that, in the first quarter of this year, export and import values of Chongqing foreign trade hit USD 11.51 billion, a year-on-year increase of 28.1%, 14.7 percent higher than the growth rate of China compared with the same period last year. The export value was USD 7.95 billion, which was increased by 36.2%, and the import value is USD 3.56 billion, which was increased by 13.2%.
   

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