Chongqing's new Communist Party secretary vowed to maintain stability and continue the economic 'opening up' of the southwestern municipality, seeking to reassure foreign investors who have been anxiously looking for signs of policy changes.
Zhang Dejiang, who replaced Bo Xilai last week, pledged on Wednesday that the municipality would continue to attract foreign investment and streamline related procedures.
The flamboyant Bo, known for his love of ultra-conservative ideology, also oversaw rapid economic growth in the municipality over the past few years with the help of his deputy, mayor Huang Qifan .
Last week's change in leadership triggered concerns among the business community about whether existing economic policies would be changed. Zhang made his name for the rapid development of the private economy in Zhejiang when he was party chief of the affluent coastal province between 1998 and 2002.
'Chongqing has achieved remarkable economic and social development since becoming a municipality [in 1997]. One valuable lesson we have learned is that we need to stick to reform and opening up,' Zhang told a delegation led by the head of Taiwan's Acer Group, Wang Jen-tang, at a technology expo.
He said Chongqing's development had entered a 'critical moment', and it welcomed investment by overseas investors, including those from Taiwan.