On February 27, the Ministry of Commerce and Chongqing Municipal People's Government signed a cooperation agreement to build cooperation mechanisms, which involved 12 aspects, including opening-up, international consumption center city, and China (Chongqing) Pilot Free Trade Zone.

Opening-up

Supporting Chongqing's opening-up is a top priority of this partnership. Half tasks are directly connected to this subject.

Assisting Chongqing in building itself into an inland opening-up highland is the first task of the agreement. The Ministry of Commerce plans to guide and support Chongqing to deepen the economic and trade cooperation with countries and regions along the Belt and Road, quickly gain a foothold in RCEP markets, and establish the Belt and Road import and export commodity distribution center.

 The task also sets it clear that the Ministry of Commerce will help Chongqing play a part in the development of the Yangtze River Economic Belt on all fronts.

For example, they will expedite the construction of a shipping center on the upper reaches of the Yangtze River, encourage transferring of industries along the Yangtze River to Chongqing, and build clusters to undertake such industries.

The Ministry of Commerce will also facilitate the construction of a western financial center, International Exchange Center in Central and Western China, an international comprehensive transportation hub in western China, and an international hub city.

A train of China Railway Express (Chengdu-Chongqing) departs from Chongqing Tuanjie Village Railway Central Station in Shapingba District. (iChongqing file photo)

The agreement also involves two tasks on contributions to China (Chongqing) Pilot Free Trade Zone construction and China-Singapore (Chongqing) Demonstrative Initiative on Strategic Connectivity promotion.

Considering China (Chongqing) Pilot Free Trade Zone construction, the Ministry of Commerce will allow Chongqing to have greater leeways to carry out reforms, find suitable measures based on the actual situation, and help the city develop the Co-opening-up Demonstration Zone of China (Sichuan) Pilot Free Trade Zone & China (Chongqing) Pilot Free Trade Zone.

In terms of China-Singapore (Chongqing) Demonstrative Initiative on Strategic Connectivity promotion, the Ministry of Commerce will put forward suggestions on growing scientific and technological education, culture and tourism, hygiene and health, and other fields innovating business models, and implementing an array of iconic projects.

The other two tasks concerning opening-up are supporting Chongqing to implement comprehensive trials to open up the service sector further and develop conference and convention trade with high quality.

Consumption

People are shopping and playing in Longfor Chongqing Park Paradise Walk. (iChongqing file photo)

Consumption is also important to this cooperation, which comprises two tasks.

The first one is to help build Chongqing into an international consumption center. Ministry of Commerce prepares to assist Chongqing in quickening the space of building itself into an international city of shopping, gourmet, exhibition, culture, and tourism, comprehensively upgrading the consumption environment, and creating an international consumption center with influence and a good reputation worldwide.

Meanwhile, the Ministry of Commerce will encourage Chongqing to unlock potential in various sectors and creatively develop nighttime, platform, sharing, and experience. Chongqing is also expected to stimulate the first-store economy, unveiling economy, first-brand economy, and debut economy, to become the first choice for international brands when they want to expand the market in western China, a "supermarket of imported goods," and a "window," through which domestic brands can present themselves to global consumers.

Another task is to contribute to innovating modern business and trade circulation, including catalyzing the development of modern commercial logistics and establishing reserve material databases.

Ministry-municipality cooperation

Ministry of Commerce and Chongqing will intensify investment attraction at ministerial and municipal levels. For instance, they plan to step up efforts to cooperate in this field, share information, encourage Fortune Global 500 companies to establish global or regional headquarters and R&D centers in Chongqing, attract high-quality projects concerning automobile & parts, new energy & smart vehicles, and smart manufacturing to Chongqing, improve industrial chains, and develop industrial clusters.

To foster more business talent, the Ministry of Commerce will encourage personnel from the city's commercial department to attend training classes held by the Ministry for local governments.

Ministry of Commerce will back Chongqing in establishing a commercial system covering counties, consolidating the consumption supply foundation in rural areas, making greater efforts to improve employment, guiding the city to practice the "helping rural population with housekeeping" action at a faster pace.

The agreement also states that more funds will be put into the business sector, and the Ministry of Commerce promises to continue supporting Chongqing during the special transfer payment.

Chongqing: A Must-visit City of International Consumption Center. (iChongqing/Zheng Ran)