Events surrounding Bo Xilai, Wang Lijun and Neil Heywood have affected Chongqing municipality’s ability to attract investment, China News Agency reported today, citing Mayor Huang Qifan.
These factors, together with the European debt crisis and a slow U.S. economic recovery, sent the local economy into a trough in February and March, the news service said, citing Huang. The economy started to rebound in April, and maintained a steady growth in the first half, it said. Foreign investment in Chongqing rose 27 percent to $3.7 billion in the first half from a year ago, CNA said.
— With assistance by Helen Yuan