New Goal: Chongqing to build as international consumer center

By Yuling Chen, iChongqing News

Chongqing–  Southwest China’s Chongqing Municipality plans to build as an international consumer center in its government work report on January 27, 2019. Moreover, the municipality is to implement the action plan to upgrade consumption, promote the transformation and upgrading of consumption platforms and expand enterprises above designated size.

Central Chongqing (Photo by Zheng Hao)

Foreign trade increased 15.9%

According to the municipal commerce work conference, Chongqing’s economy achieved steady growth. Its total retail sales grew by 8.7% year on year in 2018.

In terms of foreign trade, Chongqing has withstood the severe test of the external environment, with its total value of foreign trade exceeding RMB 520 billion, an increase of 15.9%. Moreover, the import and export of trade in services reached USD 31.5 billion, an increase of 20.7%. The use of foreign capital was strong, evidenced by the actual use of foreign capital being USD 10.27 billion. Furthermore, the municipal foreign direct investment reached USD 3.25 billion, grew by 43.8% and ranking first in the Midwest of China.

This year, the Chongqing Municipal Commission of Commerce will focus on the goals of “the pioneer in hinterland China” and “international consumption center” for high-quality development and livelihood. It endeavors to stabilize foreign trade and capital as well as expand consumption, so as to bring changes of quality, efficiency and growth drivers in economic development.

Projected indicators for the commerce work in 2019 include 7% growth rate of total retail sales, positive growth for the total value of foreign trade, 15% growth rate of trade in services, and USD 10 billion and above to stabilize the actual use of foreign investment.

An international consumer center

In order to meet the needs of the evolved social contradiction in the new era and create high-quality life for the citizens, Chongqing will promote the construction of international consumer center in a coordinated way. Moreover, it will continuously enhance the basic role of consumption in economic growth, and serve as a consumer center for the brand collection, circulation and distribution, pricing as well as industrial services.

How to promote the construction?

In 2019, the city will cultivate high-end consumer markets and increase the supply of international high-quality consumer goods and high-end products. Chongqing will also promote the upgrading of physical consumption, optimize the development of housing leasing, automobile consumption, green consumption, information consumption and etc. Moreover, it will widen market access in the service sector, and promote the rapid development of new consumption models such as platform-based consumption and a shared economy.

At the same time, the municipality will establish and improve quality standards and post-consumer evaluation systems featuring high-level, wide-coverage, and strong constraint.

The action plan to upgrade consumption

In 2019, Chongqing will seize the opportunity of building itself as an international consumer center to upgrade consumption.

Firstly, Chongqing will promote the transformation of consumption platforms and improve consumption and services supply. In addition, it will create international demonstrative zones, including quality business circles, streets and night markets.

Secondly, Chongqing is to push forward the upgrading of consumer brands and the innovative development of time-honored brands both at local and national levels. All aims to improve the reputation of consumer brands in Chongqing.

Meanwhile, Chongqing will give impetus to the development of new modes and forms of business. Vigorously developing projects in new retail, new circulation, and intelligent business, Chongqing will promote the integration of online and offline as well as commodity and service consumption, creating a number of demonstration projects linking business, tourism, culture and sports.

Additionally, it is also necessary to improve the consumption promotion mechanism and carry out a series of promotion activities in a coordinated way.