Creating Unique Advantages in Chongqing's Business Environment

Professor Pu Yongjian, the Second Level Professor and Doctoral Supervisor at the School of Economics and Business Administration of Chongqing University, and the Senior Tourism Economic Advisor to the Chongqing Municipal People's Government

Pu Yongjian:

Creating Unique Advantages in Chongqing's Business Environment

The Singapore Chongqing Week held in summer 2023 brought together the mountain city of Chongqing and the lion city of Singapore. Professor Pu Yongjian, the Second Level Professor and Doctoral Supervisor at the School of Economics and Business Administration of Chongqing University, and the Senior Tourism Economic Advisor to the Chongqing Municipal People's Government, spoke to Chongqing Currents topics related to the role of Singapore and Southeast Asia in the open development of Chongqing, as well as the upgrading and optimization of Chongqing's business environment.

The China-Singapore Connectivity Initiative Drives Chongqing's Opening Up

In 2015, China and Singapore decided to establish the third intergovernmental cooperation project in western China, selecting Chongqing as the operation centre and focusing on financial services, aviation, transportation and logistics, and information communication as key areas of cooperation. The China-Singapore Connectivity Initiative has seen significant achievements, and a series of economic and trade exchange activities have recently been carried out between Chongqing and Singapore.

Regarding the impact of the implementation of the China-Singapore Connectivity Initiative on the development of Chongqing in the past 8 years, Professor Pu believes that:

The third intergovernmental cooperation project between China and Singapore also represents the promotion of comprehensive cooperation between China and Southeast Asian countries represented by Singapore under the "Belt and Road" initiative. Through the cooperation between Singapore and Chongqing, the in-depth cooperation with Southeast Asia and surrounding countries and regions in Southeast Asia will be promoted.

Southeast Asia is Optimistic about Chongqing's "New Energy"

Chongqing is building a modern manufacturing cluster system, and is making every effort to build a national important advanced manufacturing centre, and focusing on building three trillion level leading industrial clusters: intelligent connected new energy vehicles, new generation electronic information manufacturing, and advanced materials.

Chongqing has unique geographical advantages compared to Southeast Asia, and the Southeast Asian market is relatively familiar with the mechanical and electrical products manufactured in Chongqing. Both motorcycles and automobiles in the past have gone through a process of familiarity and acceptance in the Southeast Asian market. Professor Pu believes that Chongqing's new energy vehicle industry should focus on facing the Southeast Asian market and integrating into the global market through the Southeast Asian market. As the most developed country in Southeast Asia, Singapore's economic integration with Chongqing has matured in the context of good cooperation and promotion of the China-Singapore Connectivity Initiative. Exporting to Southeast Asia through Singapore will be an important direction.

Professor Pu said, "This will be an important area for cooperation between Chongqing and Singapore in the next step. By moving towards Southeast Asia and the world through Singapore, we are also exploring and promoting cooperation in the manufacturing industry to bring greater economic flow in the context of the China-Singapore Connectivity Initiative.”

Industry Chain + Service Chain

Professor Pu believes that in recent years, the business environment in Chongqing has been greatly optimized, and many specific and practical policies have been introduced to optimize the business environment. These are all good for the business environment, and for further optimization and improvement of Chongqing's business environment, special attention should be paid to the industrial chain and service chain.

Although Chongqing currently has significant advantages in industry and a very complete industrial chain, Chongqing has 39 out of 41 major categories of manufacturing. However, there is still a need to continue to improve the high-tech industry chain and other aspects. At the same time, the local authorities need to further improve the service chain for attracting foreign investment. They should strengthen training in this area and create professional services in the business environment.

Pu suggested that Chongqing could actively provide marketing assistance to international companies interested in investing in Chongqing, and strengthen investment attraction efforts. Even in the training courses for university students and young generation, special courses such as business environment composition and foreign company market expansion should be included, forming Chongqing's distinct characteristics and unique advantages in attracting investment from large international companies.