During a meeting with Matías Mori, executive vice-president of the Foreign Investment Committee, representatives of Chongqing, China’s most populous city, expressed interest in areas such as mining, manufacturing, energy and agriculture.
The visit took place under an agreement for the exchange of information signed by the Foreign Investment Committee and the city’s authorities in 2011.
The investment opportunities offered by Chile and the country’s business climate were the main topics addressed in a meeting between representatives of the Chinese city of Chongqing and the executive vice-president of the Foreign Investment Committee, Matías Mori. The Chinese delegation was led by Xiang Tao, director of Chongqing Export-Import Credit Guarantee Co. Ltd., and also included representatives of the Chongqing Foreign Trade and Economic Relations Commission and the Chongqing Investment Promotion Association.
With 33 million inhabitants, Chongqing is China’s most populous city as well as one of the country’s main industrial centres. In 2011, Chongqing’s foreign trade reached US$30,000 million of which South America accounted for 10% while its trade with Chile surged by 500%. Foreign investment in Chongqing totalled US$10,500 million in 2011 while its investments outside China reached US$3,800 million. Between 2009 and 2011, it committed over US$500 million to projects in Latin America.
According to Xiang Tao, Chile offers important opportunities in sectors such as iron mining, manufacturing, energy and agriculture. “Trade between Chile and our city is advancing in the right direction and we see this is a first step on the road to investment,” said Tao, who also noted Chile’s attractions as a platform for entering other Latin American markets.
The executive vice-president of the Foreign Investment Committee, Matías Mori, highlighted the constant visits to Chile being made by Chinese delegations. “This is a sign that our country is doing a good job as regards attracting investment from Asia and offers investment opportunities that are relevant for this continent,” he said.
Mori also noted that the Chongqing visit took place in the framework of an agreement that the Foreign Investment Committee signed last year with the city’s authorities in order to improve the flow of information to investors.
“From my point of view, it is important that the signing of these agreements and their subsequent follow-up result in concrete interest from Chinese companies,” he pointed out. “Chongqing is seeking options for investing in the region and, in Chile, there are opportunities that are a perfect match for its needs and interests,” he added.
Located in southwest China, the city of Chongqing accounts for 11% of the country’s total area (82,403 km2) and has 33 million inhabitants. Its economic growth is driven by its automobile industry while other important sectors include telecommunications and manufacturing. In the latter sector, it is noted for wind energy and refrigeration equipment, ships, notebooks and instruments for environmental protection. Industry accounts for annual revenues of US$150,000 million and this is expected to rise to over US$300,000 million by 2015.
Over the last decade, Chongqing has experienced average annual growth of 12% and, in the first four months of this year, this reached over 14%. The province’s trade is projected to rise from US$15,000 to US$100,000 and its growth is the second highest in China and the highest in the west of the country.
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