Chongqing: China-Singapore ties and what it all means

Okay, Chongqing's got plans. Big, splashy, "look at us, we're innovating!" plans. I've seen this song and dance before. Every two-bit city with a halfway decent GDP thinks it can become the next Silicon Valley or Wall Street. Newsflash: it ain't that easy.

The Innovation Illusion

So, Chongqing wants to be a biotech hub, churning out innovative drugs like they're dumplings? Sure, why not? They've got a "25-point plan" – because nothing screams innovation like a bureaucratic checklist. They want "one to three innovative drugs approved each year by 2027." That's the goal? Seriously? That's like saying, "We want to win the lottery... maybe." What happens if they only get zero drugs approved? Does the whole plan fall apart? Offcourse not, nobody will care in a year.

And get this: their definition of "innovative" is a "Class 1 innovative drug" which, according to the National Medical Products Administration, is just a drug that hasn't been marketed anywhere before. So, basically, if you invent a slightly different version of aspirin that nobody else bothered to patent, you're an innovator. Groundbreaking.

They're joining the ranks of other "innovative" Chinese cities like Hefei (electric vehicles), Shenzhen (AI), and Hangzhou (AI, robotics, advanced manufacturing). It's like a damn arms race of buzzwords. Everyone's scrambling to be the "next big thing," but nobody's actually doing anything truly innovative.

I will say this, that connectivity initative with Singapore seems to be bearing fruit, injecting some real financial heft into the region. But is that enough to float all these other dreams? China-Singapore connectivity initiative boosts bilateral ties

Tourism and Empty Suits

And then there's the tourism conference. "Nihao! Chongqing!" Seriously? That's the best they could come up with? It sounds like a bad sitcom from the '80s. They appointed five "Chongqing Culture and Tourism Promotion Ambassadors." I can already picture the awkward photo ops and the canned speeches about "cultural exchange."

"Zhao Shiqing, Deputy Director of the Standing Committee of the Chongqing Municipal People’s Congress, emphasized Chongqing’s ambition to become a world-renowned cultural and tourism destination…" Of course, he did. That's what they always say. It's the same tired script, just with different actors.

They even had "international influencers" on hand. Because nothing says "authentic cultural experience" like a bunch of sponsored Instagram posts. Let's be real, these influencers probably spent more time taking selfies than actually experiencing anything.

The Money Game

Chongqing Bank is handing out dividends, apparently. RMB 1.684 per 10 shares. Wow. That'll buy you, what, half a cup of coffee? Don't spend it all in one place.

But hey, at least someone's making money off this whole charade.

So, What's the Point?

Look, I'm not saying Chongqing is doomed to fail. I'm just saying I've seen this movie before. It's all hype and PR spin, designed to attract investment and boost egos. Will they actually become a biotech powerhouse or a world-class tourist destination? Probably not. But hey, at least they'll have a bunch of fancy press releases to show for it. And, I guess, somebody got some cheap money out of the bank. Ain't that always the way?