will be invested in Chongqing
but it now resembles Pudong, the financial district of Shanghai or Beijing Financial Street.
It is projected that within a year or so 80 percent of the municipality’s financial institutions will be located there, and that Jiangbeizui will account for 30 percent of deposits and loans in Chongqing.
However, as the finance industry grows, one of the pressing issues it faces is a lack of skilled people.
“We are looking for more skilled people with ambitions to do something different here in Chongqing, a place where there are huge opportunities for growth,” said Xu Honghu, director-general of the finance development bureau of Chongqing Liangjiang New Area.
One of those looking to make the most of those opportunities is Yang Yusi, director of the investment and development department of Chongqing Liangjiang Financial Development Co Ltd. Yang said he returned to Chongqing in 2011 after working as an investment banker in Hong Kong and now with eight others manages an investment fund worth 20 billion yuan.
“In our team the average age is under 30,” said Yang, 32, one of the youngest senior managers in his company.
“Of course, Chongqing’s financial sector is not as developed as those of Beijing or Shanghai, but here there are more opportunities for skilled people like us to build something from the ground up.
“I have been very excited to come back to work in Chongqing; there is so much potential to tap in the financial industry. Especially after the implementation for the Belt and Road Initiative, the financial industry will gain more impetus.”
The municipality is also well endowed with strong transport links, not only with the rest of China but Europe as well, the jewel in the crown of this being the Chongqing-XinjiangEurope Rail that crosses 11,000 kilometers and six time zones.
At a railway station in Chongqing, it is common to the workers loading cars and electronic goods on to trains. After a 15-day journey that takes in Kazakhstan, Russia, Belarus and Poland, the trains arrive in Duisburg, Germany.
One company that uses the line is Chongqing Lifan Co Ltd, one of the largest domestic car and motorcycle makers in China. Yin Mingshan, the company president, said the Belt and Road Initiative offers huge development opportunities for Chinese companies.
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