Chongqing Free Trade Zone (FTZ) Will Bring Chongqing a Direct Investment Totaling 10 Billion US Dollars The 12th Annual Meeting of the Chongqing Mayor’s International Economic Advisory Council (CMIA) Has Been Successfully Held

□ Article / Journalist Zeng Rui Tr. by Gao Li

Chongqing Free Trade Zone (FTZ) Will Bring Chongqing a Direct Investment Totaling 10 Billion US Dollars The 12th Annual Meeting of the Chongqing Mayor’s International Economic Advisory Council (CMIA) Has Been Successfully Held

□ Article / Journalist Zeng Rui Tr. by Gao Li

The open Chongqing has long been one of the hot focuses in China’s development. The economic development of Chongqing that has already established a free trade zone has obtained enthusiastic attention from the economic elites across the world. On September 23 and 24, the 12th Annual Meeting of the Chongqing Mayor’s International Economic Advisory Council (CMIA) has been successfully held in Chongqing Yuelai International Conference Center. A total of 31 invited economic advisers, counselors, and representatives, with the theme of “Chongqing Free Trade Zone: Exploration,Openness and Innovation”, conducted an in-depth exchange so as to contribute wisdom, offer advice and seek cooperative opportunities for development of Chongqing FTZ as well as to build a new pattern for all-around opening-up of Chongqing.

This annual meeting focuses on the theme of “Chongqing Free Trade Zone--Exploration,Openness and Innovation”. A total of 31 invited economic advisers, counselors, and representatives from Fortune 500 companies including Jardine Matheson Group, ENGIE, SK and Microsoft made excellent speeches. This annual meeting was held by Benjamin Keswick, the executive chairman of this meeting and also the chief executive of Jardine Matheson Group. On the meeting, counselors shared their practices and experiences during the development of foreign free trade zones (in harbour districts) in Netherlands, United Kingdom, United Arab Emirates, Japan and South Korea, made a comparison of the development path and features of the coastal free trade zones and provided helpful advice for the development of Chongqing FTZ based on their own familiar fi elds.

Consultant companies in this annual meeting, with their business scopes extending all over the world,cover various fi elds and own farsighted international strategic thinking as well as rich and successful operation experiences. 31 invited economic advisers,counselors and representatives are all senior enterprise leaders with extremely high social status from the global top 500 enterprises. Meanwhile,31 invited guests are from different industries with distinctive features, nearly one half of these industries are world well-known manufacturing enterprises including these old ones with landing projects in Chongqing like Ford, ISUZU, BASF, ABB,HP, and SK, and these young generations such as Narco, a project that is landing in Chongqing. The invited representative enterprises also include 10 international renowned fi nancial, security and modern service industries: Deloitte, Nomura Holdings,Australia & New Zealand Banking (ANZ), Sumitomo Mitsui Financial Group (MUFG) and Sumitomo Mitsui Banking Corporation (SMBC). Besides, energy giants like ENGI, BP and global famous urban operation enterprises like Ascendas Singbridge Group and Shui On Land are also invited. The industry backgrounds of 31 invited guests are in highly accordance with the features of industries in recent years, especially in these aspects like vigorously developing highend manufacturing industries and exploring to build Chongqing as an international financial center.Representatives both in-site and off-site expressed their insights and thoughts on the development of Chongqing FTZ and the overall development of Chongqing.

Correspondent notes that how to develop the Chongqing Free Trade Zone (FTZ) better was the question on everyone’s lips. Representatives focus more on “the construction of Chongqing financial center and innovation of financial instruments”and “the intelligence manufacturing to promote the upgrading of Chongqing manufacturing industry”.For example, ABB held that with the advent of the fourth industrial revolution and the implementation of “Made in China 2025”, Chongqing can find a pattern that fits in its own development and transformation by virtue of the strong driving force released by digitization; BP held that besides the achievements made by coastal free trade area,a high level of innovation can be achieved by seeking breakthroughs based on characteristics of Chongqing; ENGIE suggested that Chongqing should be built into an attractive fi nancial center so as to compete with the existing financial centers in China (Shanghai, Shenzhen and Hongkong) and Asia (Tokyo and Singapore). Altus suggested that measures aiming to help entrepreneurs in free trade zone to create innovative thinking and action; ANZ Bank said that the establishment of Chongqing FTZ will benefit middle and small-sized enterprises in financing, releasing their potentiality and becoming a driver in China’s economic growth; Schneider Electric Group recommended that Chongqing should become the innovation center of West China and focus on intelligent manufacturing to promote the green and sustainable development of the city as well as shape a reasonable system for the future of “intelligent manufacturing”. Besides, HP strongly advised Chongqing should further expand land trade and consolidate the material basis formulated by the trade rules.

Apart from the invited guests with extremely high social status, the investment cooperation reached during the annual meeting also records the new high.Xiong Xue, director of Chongqing Trade Commission,said that cooperation agreements, specific amount of investment cooperation and strategic cooperation intention reached in this meeting hit the record high, covering fields including energy, automobile,information, chemical industry, fi nance and logistics etc. In this meeting, more than 20 consultant firms expressed their will on expanding investment cooperation, planing to throw an investment totaling 10 billion US dollars. According to the materials provided by Chongqing Trade Commission, these projects mainly include: SK Hynix formally signed with Chongqing government on the second period of semiconductor assembly and test; Ford signed with Liangjiang New Area the strategic cooperation projects valued 10.5 billion yuan; ABB signed a Memorandum of Understanding on Strategic Cooperation with Chongqing Trade Commission,they will conduct comprehensive cooperation in industry, energy, transportation and infrastructure development, take an active part in the planing and implementation of the construction of Chongqing smart city, smart community and smart industrial parks as well as the construction of Chongqing Rail Transit, micro grid and smart grid, and promote the rapid and sound development of new energy vehicles. ENGIE signed Cooperation Framework Agreement on Energy Service and Photovoltaic Field with Chongqing Trade Commission, provided Chongqing customers with stable and clean energy and threw an investment of 1.5 billion in the construction of photovoltaic power station in Chongqing. BASF held the commencement ceremony of natural gas based syngas project so as to improve the reliability of MDI production and ensure the long-term operation of the improvement of MDI project. Ascendas Singbridge Group, Carlsberg Group, BASF and other enterprises also carried out activities like business docking, business research and consultation and public welfare.

In this meeting, the 13th Annual Meeting of the Chongqing Mayor’s International Economic Advisory Council (CMIA) will be held on September 16, 2018,in Chongqing Yuelai International Conference Center,with the theme of “Chongqing Intelligent Road:Strategy and Measures”. In the meantime, Gérard Mestrallet, Chairman of ENGIE, is recommended as the executive chairman of the 13th annual meeting.Hannes Androsch, Chairman of the Supervisory Board of Altus, and Koichi Miyata, Chairman of Sumitomo Mitsui Financial Group, are designated as the executive chairman of the 13th annual meeting.