Chongqing- Southwestern China's Chongqing Municipality clearly defined its goals of opening-up and business development envisaged in the 14th Five-Year Plan period (2021-2025) at a municipal video conference on January 28th, 2021.

The total retail sales of consumer goods are set to increase by about 6% annually in the municipality, while the total volume of foreign trade will increase by about 5% each year. During this time, foreign capital in actual use is to be maintained at over 10 billion U.S. dollars yearly. Moreover, Chongqing strives to become a pioneer of opening-up in inland China and consumer center with strong international influence by the year 2025.

Here are the key points we can look forward to as detailed in the video conference for the 14th Five-Year development.

Zhang Zhikui, director of the Chongqing Municipal Commission of Commerce details Chongqing's vision of opening-up and business development over the 14th Five-Year Plan period (2021-2025).

RCEP Pilot Demonstration Zone

Chongqing will focus on countries along the Belt and Road over the 14th Five-Year Plan, as the city launches construction of the Regional Comprehensive Economic Partnership (RCEP) Pilot Demonstration Zone, while plans for the implementation of economic and trade cooperation between Chongqing and ASEAN, the European Union, Japan, and South Korea are to be formulated.

In order to promote the integrated development of domestic and foreign trade, the Belt and Road Import and Export Commodity Distribution Center is to be built, while great effort will be invested to establish the National Import Trade Promotion and Innovation Demonstration Zone.　　

Foreign investment will be enhanced through a new version of pre-access national treatment and negative list management system, while the deployment of an overseas production and marketing service network is to be set in place.

In the construction of trade channels, implementing a fast-track customs clearance model is to be promoted for China Railway Express to Europe freight trains, a range of customs services under Chongqing-Sichuan general administration, including mail clearance, is to be jointly explored.

Simultaneously, a multi-modal customs supervision model is to be optimized, while the construction of water and dry port-based logistics hubs across Sichuan and Chongqing is to be promoted.

Service industries are to be expanded and opened up in an orderly manner, focusing on the seven key areas related to science and technology, commerce and leases, society and health, education, finance, electricity, and telecommunications. Market access will be relaxed, while the regulatory model will undergo reform.

The municipal video conference for opening-up and business development is held in Chongqing on January 28th, 2021.

New Bayu Consumption

During the 14th Five-Year Plan period, Chongqing will actively integrate into the domestic cycle, constructing a metropolitan center for international consumption as the starting point.　

The five major city attractions of international shopping, food, exhibition, tourism, and culture will undergo strong development, while an international cluster will be built to promote the eight key measures and universal benefits of New Bayu Consumption.

These enhance urban-rural consumption, quality upgrades, digital empowerment, green health, market segmentation, international expansion, optimized locations, and unhindered circulation. These measures are to be implemented with the support of three major pillars: the strengthening of fiscal, taxation, financial policies, the purchasing capacity of residents, and consumer rights protection.

Construction in the digital business field will be strengthened through the promotion of digital transformation in commercial enterprise, cultivation of live e-commerce, accelerated construction of smart business big data platforms, and an improved level of development in cross-border e-commerce comprehensive pilot zones.

Representatives of key municipal bureaus were in attendance at the video conference.

International trade and partnership

Chongqing will also accelerate constructing a demonstration area for the Sichuan-Chongqing pilot free trade zone. At the same time, Chongqing will strengthen the innovation and exploration of differentiated systems while building an institutional and open policy system.

The China-Singapore (Chongqing) Demonstration Project on Strategic Connectivity will see continued development. Construction is to be accelerated in the China-Singapore fintech cooperation demonstration zone, the China-Singapore aviation industrial park, the multi-modal transport demonstration base, and the Xiantao Big Data Valley China-Singapore cooperation demonstration site for information and communications technology.　

At the same time, Chongqing will seal approval for the Yongchuan Comprehensive Bonded Zone as soon as possible, accelerate the construction of infrastructure in the Wanzhou Comprehensive Bonded Zone, actively promote replication of the pilot free trade zone model, and implement systems innovation for customs supervision in the Wanzhou and Yongchuan Comprehensive Bonded Zones.

The convention and exhibition economy in Chongqing should undergo strong expansion. Key exhibition activities such as the Smart Expo, Western Conference, and the World Design Conference shall continue to be held in the city.

Meanwhile, internationally renowned exhibitions, conferences, competitions, and performing arts will be introduced and cultivated, along with the active development of online exhibitions and construction of the Yuelai international convention and exhibition city.　

In addition, Chongqing will also build more international exchange platforms and cooperation, such as preparations for the 14th China-Latin America Entrepreneurs Summit, the Dubai World Expo Chongqing Event, and the Chongqing Commodity Sales Exhibition Center to be established in Kenya.