The municipal government will work to set up a clean and efficient administration environment, build a complete legislation environment, construct a consistent and transparent policy environment, establish an open and fair market environment, and cultivate a people-centered environment in favor of company development, Chen said.

With an aim to develop into an economic hub along the upper reaches of the Yangtze River by 2020, the city will inject 120 billion US dollars into the construction of fixed assets by 2010, involving such fields as infrastructure, industry, real estate, transport and communication, said Chen, adding that these projects are open to overseas investors.

As the only municipality directly under the central government in western China, Chongqing enjoys a geographical advantage, a relatively complete infrastructure, a robust industry and rich human resources.

The city now is home to over 3,000 foreign-funded ventures.

Chongqing linked with Seattle as a friendship city in 1983 and now has eight friendship cities across the world.

(Xinhua News Agency April 8, 2003)