The Chengdu and Chongqing Economic Circle has taken its first step abroad with a global investment promotion event held in Singapore on October 15. Chen Yongxiang, Executive Chairman of Phoenicia Investments Pte Ltd, remarked, “Sichuan and Chongqing have both sent individual investment teams to Singapore before, but this is the first time they are jointly promoting the Chengdu-Chongqing Economic Circle. The interest is significant, as many local enterprises are still unfamiliar with this concept.” This event, organized by the Sichuan Provincial Economic Cooperation Bureau and the Chongqing Municipal Economic and Information Technology Commission, marks the first global promotion event held overseas for the Chengdu-Chongqing Economic Circle.
The choice of Singapore as the destination for this initial global outreach is largely strategic. The venue was selected in Orchard Road, Singapore's bustling commercial center filled with high-end shopping landmarks like ION Orchard and Lucky Plaza, and also home to major financial institutions. The aim of holding the event here was to efficiently connect with multinational companies operating in Singapore, attracting global resources to bolster the development of the Chengdu-Chongqing Economic Circle.
Obvious changes were noted by recruitment officials from Sichuan's economic cooperation bureau: the emerging West-China's Land-Sea New Corridor has enhanced Singaporean entrepreneurs' understanding of the Chengdu-Chongqing region, enabling quicker, deeper insights than before. This engagement highlights Singapore’s role as a crucial bridge in ASEAN and a significant platform for international cooperation for the Chengdu-Chongqing Economic Circle.
Statistical data underscores the strong trade ties between China and Singapore. China has remained Singapore’s largest trading partner for 12 consecutive years, while Singapore has been China's top foreign investor during the same period. In Sichuan alone, 867 Singaporean enterprises have been established, illustrating Singapore's pivotal role in the region’s foreign investment landscape.
The promotion meeting also unveiled the "Double Cities, Double Hundreds" investment project opportunity list. This compilation signifies the Chengdu-Chongqing Economic Circle's invitation for over one trillion yuan in investment through attractive opportunities. Despite the global investment climate being tense, proper structuring of the opportunity list demonstrates a strategic move to garner interest from potential investors, including those new to the Sichuan-Chongqing area.
One notable attendee was Wang Yuankai, Chief Marketing Officer of Singapore's Herbie International Pte Ltd, a leader in precision plastic mold manufacturing. His firm expressed confidence in investing in Chengdu, given the region's market potential, talent availability, and its strategic geographic positioning as a gateway to ASEAN.
Ultimately, the "Double Cities, Double Hundreds" project list encompasses pivotal sectors like artificial intelligence, low-altitude economy, new materials, and biomedicine, catering to contemporary investment trends. It encompasses a clear array of project details, expected outcomes, and potential collaboration methods, thereby offering transparency to prospective investors.
The event concluded with five projects being signed on-site, showcasing the commitment of both regions to foster close collaboration and mutual growth through strategic synergy. As Zhuang Chaolai emphasized, this gathering represents a pivotal moment for the Chengdu-Chongqing Economic Circle to embark on a new phase of cooperation with Singapore.