Southwest China’s Chongqing Yubei District leads urban development with modern innovation, consumption drives

CHONGQING, July 15, 2024 /Xinhua-AsiaNet/–

Chongqing’s Yubei District is currently focusing on building a modern industrial system with advanced manufacturing as the main pillar, the local People’s Government stated at a press conference held on July 10.

In recent years, Chongqing’s Yubei District has set its sights on the two leading industries of automotive and electronics, and has made every effort to promote the upgrading of these two trillion-yuan industries.

The district aims to gather and develop a group of pillar industries, such as intelligent equipment, advanced materials, and integrated circuits, with an output value of around 50 billion yuan each, as well as distinctive industries with an output value of around 30 billion yuan each.

Efforts are being made to accelerate the development of new quality productive forces, strengthen the leading role of key industries, and continuously cultivate new growth drivers.

Meanwhile, as a pilot area for Chongqing’s development of an international consumption center city, Yubei District is witnessing a rapid emergence and gathering of new consumption scenarios and formats.

By leveraging commercial districts, integrated commercial complexes, and blocks, the district is extending the development of the new economy of flagship stores. It is introducing new consumer experiences such as experimental theaters, cross-border collaborations, customized derivatives, and digital consumption.

Yubei District is also seizing the development opportunities brought by the open platforms of an airport economic demonstration zone, Chongqing Pilot Free Trade Zone, and the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity to forge trade and investment competitiveness.

By combining policy advantages in international consumption, airport logistics and duty-free economy, the district continues to strengthen its support for the commercial and trade industries. It supports business model innovation, brand development, and demonstration projects to further promote the growth of enterprises in the district.

Looking forward, Yubei District will further enhance the deep integration of scientific and technological innovation with industrial innovation, and iteratively improve the advanced manufacturing system to strengthen the support for high-quality development industries.

In addition, Yubei will take the opportunity of being a pilot zone for building an international consumption center city to build an internationally recognized consumer destination that embodies the characteristics of Yubei, showcases the Chinese style, and leads international fashion trends.