Chongqing - InCity Chongqing is primed to open its doors as the pioneer establishment in the International Land Sea Center on September 28. Standing proud as Chongqing’s tallest edifice at an impressive 458 meters, this development was announced at a press conference on September 26.
The complex will host 69 first stores, with notable occupants including Galeries Lafayette, Tsutaya Books, BLT Supermarket, and Neobio Family Center. Galeries Lafayette, with four existing stores in China, marks its foray into the Western region with this new branch in Chongqing.
Galeries Lafayette will shine brightly with the opening of InCity Chongqing on September 28. (Photo/Yuzhong District)
The International Land Sea Center, colloquially known as Chongqing 100, boasts two primary towers and attached commercial podiums. This iconic architectural marvel, integrating retail and office spaces, will be fully operational by 2025.
Chongqing (Hualongqiao) International Business District, located in Yuzhong District, Chongqing. (Photo/Yuzhong District)
Xie Dong, Deputy Secretary of the Communist Party of China Yuzhong District Committee and the District Mayor, highlighted the stature of Chongqing (Hualongqiao) International Business District. As the city’s sole officially recognized international business district, it hosts over 3,200 enterprises, among which 66 are foreign-funded companies and branches.
The district aspires to morph into a premier commercial nexus, not just within Chongqing but extending its influence throughout the southwestern region. Ambitions are high, aiming to eclipse 50 billion yuan (approximately USD 6.84 billion) in annual commercial consumption by 2030.
Chongqing (Hualongqiao) International Business District has already attracted 66 foreign-funded companies, inclusive of prominent names like Deloitte China West Headquarters and Mitsubishi Electric, with foreign capital utilization averaging over USD 100 million annually.
Xie elaborated on the district’s strategy to develop into a central trade hub, with operational scopes extending from procurement and distribution to marketing, settlement, and logistics. This endeavor is underscored by the influx of 15 renowned foreign trade corporations, including the Fortune 500’s Zhengwei International Group, generating a staggering foreign trade volume that exceeds one billion yuan (USD 136.79 million) annually.
In the realm of financial systems innovation, the district is a trailblazer, pioneering mechanisms like “onshore financing guarantees + offshore external debt loans + exchange rate risk locking.” Its ingenuity in developing novel foreign-related legal services earned it a spot among China's inaugural “best practice cases” for comprehensive service trade innovation.
Furthermore, Xie accentuated the district’s commitment to international service excellence, underscored by establishing the first Law Service Center for Overseas Chinese Disputes and the Exit & Entry Administration Service Center. These efforts are complemented by the active encouragement of foreign investment in healthcare and retirement facilities, underscoring a holistic approach to fostering an international community.
InCity Chongqing, with the radiant allure of stores like Galeries Lafayette, is poised to become a vibrant cornerstone of commerce, culture, and community, illuminating the cityscape with its grandeur.
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