For companies in Singapore and Malaysia that are looking to increase market size in the same region without high investment costs, Chongqing is gaining popularity with its large market size, gateway positioning, local government incentives, bilateral trade deals and strong local infrastructure development.
Chongqing is around 4 hours of flight from major South East Asia cities. It is a municipality under the direct control of the central government. The other three municipalities are Beijing, Shanghai and Tianjin. In terms of market size, Chongqing is the most populous municipality with over 30 million people. Its gross domestic product is 11% year-on-year, the highest among Chinese cities, provinces and municipalities. In the last few years, it has developed into a high growth engine for the western region inland market.