The first China Urban Business District Development Conference was held in Chongqing Municipality on October 26 for the city's featured business district culture, urban quality development, and international consumption atmosphere.
The first China Urban Business District Development Conference takes place in Chongqing Municipality on October 26, 2021. (Photo provided to iChongqing)
Featured business district culture of Chongqing
Chongqing, as a forerunner of the business district development in China, has rich business cultural elements.
By the end of 2020, 12 business districts in the city achieved total retail sales of consumer goods of over 10 billion yuan (about 1.6 billion U.S. dollars). The central and urban business districts contributed more than 60% to the city's total retail sales of consumer goods.
In 2020, Chongqing's total retail sales of consumer goods went up 1.3% to 1.18 trillion yuan, 5.2 percentage points higher than the national level. From January to September 2021, its retail sales of consumer goods registered at 1,030.21 billion yuan, a year-on-year growth of 23.7% with a growth rate 7.3 percentage points higher than the national level.
Business districts emerged in Chongqing as a result of its urban structure featuring several centers in different areas. High-risings and shops spread across such districts, which have become important destinations for shopping, entertainment, tourism, and necessary public spaces for residents.
Holding the first China Urban Business District Development Conference in Chongqing is a recognition for the city's progress in the business district development and also an encouragement for it to grow into an international consumption center.
Urban quality improvement on all fronts
A view of the Jiefangbei CBD in Yuzhong District, Chongqing. (iChongqing file photo)
Under the theme of Promoting High-quality Urban Business District Development, Inspiring New Engines for Consumption Growth, the Conference served as a platform to share opinions and policy-related suggestions on the development of business districts and transformation of traditional commerce.
According to Chen Wenling, chief economist at the China Center for International Economic Exchanges, China enjoys a large market. Expanding domestic demand and smoothing domestic circulation requires connecting production, distribution, logistics, and consumption.
The development of business districts in Chongqing is very representative. With systematic, standardized, diverse, people-centered, and smart planning and promotion, Chongqing relies on business district building to continue perfecting urban functions, stimulating urban construction, improving urban image, vitalizing economy, perfecting investment environment, and realizing urban quality improvement on all fronts.
International consumption center
A business district in Chongqing (Photo/ Shangyou News)
In July 2021, the State Council approved that Chongqing and other 4 cities took the lead in fostering an international consumption center.
According to Peng Heliang, deputy director of the Chongqing Municipal Commission of Commerce, Chongqing will incorporate the urban improvement and renewal into the amelioration of business districts and boost consumption transformation and upgrading, centering on international consumption center development and based on fundamental advantages offered by business districts.
Chongqing plans to build two centers for international consumption: Central Business District (CBD) and Cuntan International New Town. The CBD is expected to rely on the core area where the Yangtze River and Jialing River meet and collaborate with Jiefangbei, Jiangbeizui, and Nanbin Road to build a 5A scenic area in Changjiahui. It will comprehensively improve the service facilities and capabilities and grow into a center of the international consumption city and a world-renowned tourism destination. The new town is built around the cruise home-port, highlighting the cruise, bonded, and fashion economy, developing such functions as modern service, international exchange, and consumption, and growing into another center of the international consumption city, a platform to demonstrate the city and a new window for opening-up.
"Business districts play a vital role in encouraging urban construction and economic development, and serve as a critical platform for consumption," Peng said Chongqing would avail itself of the opportunity introduced by the first China Urban Business District Development Conference, to pool talent for continuous, high-quality development of urban districts in Chongqing and empowerment of the fostering of the international consumption center.