Chongqing - "The functional expansion of the Yangtze River Economic Belt is transitioning from an outward focus to facilitating internal and external connectivity," said Cheng Yawen, a professor at the School of International Relations and Public Affairs at Shanghai International Studies University, at the seminar on October 19.

The Yangtze River Economic Belt Green Development Seminar was held at the 14th National Support to the Three Gorges Reservoir Area Economic and Trade Fair in the Chongqing Reservoir Area, with government officials, scholars, experts, and company delegates presented for brainstorming and discussing.

Cheng Yawen, professor of the School of International Relations and Public Affairs at Shanghai International Studies University. (Photo/Xie Zhiqiang)

The Yangtze River connects China's eastern, central, and western regions, serving as a vital integrated transportation artery. It has become the world's busiest and largest inland waterway, often called the "Golden Waterway."

The Sichuan-Chongqing region in Southwest China serves as the geographical hub for the Yangtze River Economic Belt's westward expansion, cultivating a nationwide mega-market and promoting the dual circulation strategy.

Cheng added, "The Yangtze River Economic Belt plays a crucial role in nurturing the domestic market and creating a new foundation for high-level international openness."

Cheng noted that the export-oriented economy in the Sichuan-Chongqing region is the most developed among areas beyond the coastal regions. In 2022, their combined exports exceeded USD 170 billion, far surpassing other provinces, underscoring their role as the fourth pillar of the Chinese economy.

"The rise of the central and western regions signifies the success of industrial transformation," Cheng continued. "Furthermore, technological advancements will rejuvenate the Yangtze River Economic Belt."

For instance, in Yibin, Sichuan, significant investments from companies like Contemporary Amperex Technology (CATL) have led to the rapid growth of the photovoltaic and new energy industries. This has also facilitated the establishment of a comprehensive industry chain in coordination with Chengdu, Meishan, and Leshan.

Suggested high-quality economic development in the real economy

Jia Ruoxiang, director and researcher of the Comprehensive Research Office at the Institute of Spatial Planning and Regional Economy of the NDRC, also emphasized the need to fully utilize the dual circulation strategy of domestic and international trade facilitated by the Yangtze River. 

Jia urged the advantages of the Yangtze River Golden Waterway transforming into a high-quality economic development.

Jia Ruoxiang, director and researcher of the Comprehensive Research Office at the Institute of Spatial Planning and Regional Economy of the NDRC. (Photo/Xie Zhiqiang)

"Development is the key to solving all problems," said Jia. "The Yangtze River Economic Belt should focus its efforts on promoting high-quality economic development in the real economy."

Jia emphasized that the Economic Belt should accelerate the construction of a modern industrial system, support the development of specialized and sophisticated enterprises, and promote the manufacturing industry's high-end, intelligent, and green development.

For instance, Chongqing actively creates key industry clusters in intelligent, connected new energy vehicles. This includes developing essential systems and core components such as automotive chips, software, batteries, motors, electronic controls, and thermal management, transforming traditional automotive parts manufacturers, and establishing a comprehensive domestic ecosystem for intelligent connected new energy vehicle components.

Additionally, efforts are underway to upgrade and establish pillar industry clusters in intelligent equipment and manufacturing. This includes research and application of key technologies and equipment in industrial robots, construction robots, CNC machine tools, intelligent inspection equipment, and other intelligent manufacturing fields.

Up to now, Wanzhou, a strategically important hub of the Belt and Road Initiative and the Yangtze River Economic Belt, has attracted 30 investment projects and 89 foreign subsidiary branches from countries such as Singapore, South Korea, and the United States.

Wanzhou's enterprises actively participate in international cooperation related to the Belt and Road Initiative and overseas trade and economic collaborations. The region's exports and imports of processing and trade volume have exceeded 1.4 billion yuan, marking the gradual formation of an outward-oriented industry.