The southwestern Chinese cities of Chongqing and Chengdu are among the best investment destinations in that country, several U.S. business executives agreed.

"Chongqing and Chengdu have such huge population centers, so they have greater opportunities than many other places," David J. Hofmann, director for North America at Inter-China Consulting, told the China Investment Strategies Conference held here Wednesday.

Chongqing and Chengdu have enough labor forces to support the economic sector, especially some export-led industries, according to Hofmann, whohas 30-year business experience in China.

The two cities are also good places for innovators as they boast rich talent potentials, he added.

There are good universities and well-educated students in Chongqing and Chengdu who can play the operating and managing roles for investors' companies, said the business executive.

Hofmann was echoed by Gene Huang, chief economist and vice president of FedEx, who said China's strategy to develop its western regions is very supportive for doing business in Chongqing and Chengdu, which would remain attractive for U.S. investors "for quite some time."

President and co-CEO of Tishman Speyer Rob Speyer also agreed that there are enormous government investments in the two cities.