Chongqing-Yubei District achieved a regional GDP of 200.952 billion yuan (about 31.1 billion US dollars) in 2020, becoming the first district in Chongqing to exceed 200 billion yuan. Strategic emerging industries, consumption-driven service industry, and innovation have become the major engines for Yubei to pursue its high-quality development of the industrial economy.

After years of efforts on transformation and upgrading, Yubei has developed its industry from traditional manufacturing to strategic emerging industries and new industries supported by modern manufacturing. Taking the intelligent terminal industry for instance, in 2020, more than 90 million mobile phones were produced by enterprises such as OPPO and Transsion. One out of every 20 mobile phones produced worldwide comes from Yubei.

Strategic emerging industries, as the new engine, have driven Yubei's industry to grow against the trend. In 2020, 387 industrial enterprises above the designated size in Yubei achieved an output value of 315.49 billion yuan, up 14.5% year on year, ranking first in Chongqing. The growth rate of industrial added value above the designated size reached 11.7%, 5.9 percentage points higher than that of the city.

Business services across the district saw a year-on-year decline in business revenues in the first half of 2020 due to the COVID-19 epidemic. In order to minimize the impact of the epidemic, the CPC Yubei District Committee and the People's Government of Yubei District took some measures such as consumer vouchers and consumption festivals to drive the local consumption. In the second half of 2020, retail sales of consumer goods above the designated size increased by more than 10% year on year, turning the growth from negative to positive.

"Innovation has become the new engine for Yubei to pursue its high-quality economic development," said a person who is responsible for the Commission of Economy and Information Technology of Yubei District. In 2020, Yubei saw 7 municipal new digital workshops such as South Air International and Tianyou Diary, 2 national projects in line with international standards and featuring the integration of industrialization and information such as China Everbright Group and Chongqing Yunhai Machinery Manufacturing Co., Ltd., 10 new industrial Internet and Internet of Things demonstration enterprises such as OPPO and Chongqing Zhongsichuang Intelligent Technology Co., Ltd., and 45 intelligent transformation projects covering Tianyou Diary and Zisun Technology. The intelligent manufacturing development index of Yubei reached 62.2, ranking first in the core area of Chongqing. 76.4% of equipment was digitalized and 78.33% of R&D tools applied in the District.

"In 2020, Yubei has been committed to a new development concept and integrated itself into a new development paradigm in a new development stage. Therefore, a cluster development paradigm supported by five 100-billion-level industrial clusters, covering intelligent terminals, software and information services, modern consumption corridor, Liangjiang International Business Center, and aviation logistics park, was created, laying a solid foundation for high-quality economic development. Concerning the intelligent terminal industrial cluster, more than 50 projects related to the intelligent terminal industry including OPPO, Transsion, and KAIFA have been introduced. The output value of intelligent terminals has reached 39.86 billion yuan, up 38.6%," said a person who is responsible for the Development and Reform Commission of Yubei District.

"In 2020, the total import and export of Yubei reached 167.62 billion yuan, up 11.5% year on year," said a person who is responsible for the Business Commission of Yubei District. Foreign investment also surged. Yubei has seen more than 900 foreign-funded enterprises, accounting for about 1/6 of the city's total. In 2020, its actual utilization of foreign investment reached 2.45 billion US dollars, more than 1/5 of the city's total.