Chongqing -"International Consumption Center Construction," as an important national project, has been receiving glowing news coverage from the media amid China's Two Sessions 2022.
Chongqing and the other four major Chinese cities - Shanghai, Beijing, Guangzhou, and Tianjin - have been selected to develop international consumption centers. The move mainly aims to speed up the quality and upgrade of consumption to achieve a robust domestic market and high-level opening-up to the world.
With unique geographic features and a massive amount of resources, Chongqing, southwest China's economic engine, has garnered much attention from foreign business leaders, including Massimo Bagnasco, the vice president of the European Union Chamber of Commerce in China (EUCCC).
Massimo Bagnasco, vice president of the European Union Chamber of Commerce in China interviewed by iChongqing ( iChongqing/Li Fangwang
Population size matters
"Chongqing represents the part of China which I do believe is under the process of great development," told Massimo, who sees an excellent vision for the development of a global consumption center in Chongqing. In his eyes, Chongqing's population size is one of the significant advantages, making it most unique from the other four cities.
As China has ushered in an era when the average welfare level keeps climbing, a large population positively promotes consumption. It's conceivable that the momentum will be tremendous when over 330 million people become productive consumers.
Massimo Bagnasco making a speech at 20 Years of the European Chamber Celebration(Photo provided to iChongqing)
Rich resources valued
"Chongqing does not only focus on goods but also on services, tourism and culture which are treasured resources that the city definitely has," praised Massimo, "I'm delighted that the authorities consider it a top priority to develop service, entertainment, cultural and tourism industries." Like numerous travelers at home and abroad, Massimo can't stop marveling that every time he visits Chongqing, he always discovers exciting attractions ranging from natural landscapes to cultural venues.
European enterprises get involved
Chongqing's ambition is well acknowledged as the municipality's official plan shows that by 2025, two world-class and ten high-quality commercial circles, 100 famous streets and towns with unique local characteristics, and several clusters for integrated development of business will be built.
"It's a welcome plan," said Massimo. When it comes to how European enterprises can be involved in the construction, he offers his insight: "I do believe that we can play a significant role in the setup and construction of new facilities in the preservation of the natural and cultural resources."
He is confident that their approach will perfectly match the Chinese vision of protecting its heritage while advancing sustainable consumption growth. Europe and China are old cultures, sharing many similarities and joint points.
Urgent to build a close tie again
At the end of the interview, Massimo gave valuable advice on overall cooperation in trade between Europe and China - Avoid misunderstanding and build a close tie again despite the uncertainties brought by the pandemic.
"When a new investor arrives at a different world, what comes first to us is to understand his mindset," explained Massimo, "He has his way to do business. Sometimes it's not disagreement but misunderstanding that hinders cooperation."
Notably, the coronavirus is still raging in much of the world, creating a lot of troubles and uncertainties. Neither European companies in China nor at home escape the damage. "Now more than ever, we should start to work again on building the trust between the two sides, which can be later helpful for further cooperation," calls for Massimo.