A child interacts with a robot at the booth of Chongqing Huashu Robotics Co., Ltd. during the Smart China Expo 2023 in Southwest China's Chongqing Municipality, September 4, 2023. (Photo/Xinhua)
The digital economy, green economy, and open economy will become the new driving forces of Chongqing's high-quality development.
Chongqing is the world's most extensive notebook computer manufacturing base, contributing approximately one-third of global output. It is also a leading global smartwatch manufacturing hub, a pivotal national mobile phone manufacturing center, and western China's foremost smart home terminal manufacturing base.
Chongqing has been promoting the development of high-end equipment manufacturing, capitalizing on strengths in high-end CNC machine tools, aerospace, robotics, rail transportation, energy, and environmental protection equipment. Significant advancements have been achieved in key metrics across each sector.
Chongqing is rich in new energy resources, including wind and solar. Notable companies in this sector include China Haizhuang Windpower Equipment and Heyou Chongqing Solar Energy. The city also hosts over 80 supporting companies for wind power equipment, forming an industry cluster with an annual output value surpassing 10 billion yuan ($1.39 billion).
Chongqing is designated as the national high-tech industrialization base for functional materials. The city's new materials sector includes six major areas: advanced steel materials, advanced non-ferrous metal materials, new chemical materials, advanced inorganic non-metallic materials, new energy battery materials, new electronic materials, and cutting-edge new materials.
Chongqing is a national demonstration base for the medical device technology industry. Key companies include Haifu Technology and Xishan Science & Technology. Key scientific research institutions and industrial technology service platforms include Chongqing University, Chongqing Medical University, and National Ultrasonic Medical Engineering Research Center. These provide scientific research and technical support and are helping transform Chongqing into an innovative manufacturing base for intelligent medical devices.
Chongqing is a nationally significant hub for the biomedical industry, a key export base for traditional Chinese medicine services, a high-tech industrialization base for national biomedical materials, and a nationally recognized innovation drug incubation base. With a comprehensive collaborative and supportive infrastructure, the city possesses a complete pharmaceutical industry ecosystem.
The precision machinery and intelligent manufacturing equipment industry is one of the leading industries in Chongqing, having developed a large scale and distinctive advantages.
More than 3,500 software enterprises and key companies include CISDI, ZBJ.com, Chongqing Jinmei Communication, Shouxun Technology, and Chongqing Zenith Information Technology.
Chongqing is committed to building a financial center in western China. It aims to be the financial hub with the most complete range, the largest number, and the greatest openness of financial institutions in western China. In 2022, Chongqing's financial industry demonstrated comprehensive competitiveness, ranking among the top in West and Central China and securing the seventh position nationwide. By 2025, the added value of the city's financial industry will reach 280 billion yuan, accounting for about 9.5 percent of regional GDP.
Chongqing is a major national central city and a comprehensive transportation hub in western China. The construction of the New International Land-Sea Trade Corridor has been elevated to a national strategic level. The transportation network spans 393 ports in 119 countries and regions worldwide. The China-Europe Railway Express (Chengdu-Chongqing) leads the nation in operational efficiency, and the international air routes have increased to 109. The China-Singapore multimodal transport demonstration base has been put into operation, and the port's annual cargo handling capacity and throughput exceeded 200 million tons.
Chongqing is the largest trade center in western China, a region including more than 300 million people in eight provinces, and the city also has the most permanent population in China. According to the 2022 Forbes China Consumption Vitality City List, Chongqing is the third-largest city in China for rapid consumer vitality growth, following Beijing and Shanghai.
Chongqing is one of China's first designated national E-commerce demonstration cities and cross-border E-commerce comprehensive pilot zones. Key companies include Alibaba, JD, and ZBJ.com.
In 2022, Chongqing's e-commerce development showed strong momentum. According to the report on developing cross-border e-commerce in Chinese cities at the Global Cross-border E-commerce Conference 2022, Chongqing ranked at the forefront of Chinese cities' cross-border e-commerce development. It played a leading role in the central and western regions, with the e-commerce transaction volume surpassing one trillion yuan.
Chongqing is a leading city in China for exhibitions and conventions and is a preferred location for major domestic and international events in the central and western regions. The city is trying to develop its exhibition economy, aiming to enhance the exhibition industry's internationalization, branding, marketization, specialization, and intelligence. And it seeks to become a major global hub for the sector.
Chongqing boasts a rich history, profound cultural heritage, abundant tourist resources, and an advantageous geographical location. It is home to renowned attractions such as the Three Gorges, the Dazu Rock Carvings, the Wulong Karst, and the Jinfo Mountain in the Nanchuan district.
Chongqing has formed a complete creative industry structure based on consulting and planning, culture and media, R&D, and design. Creative design studios, creative industry parks, and cultural and creative experience zones support it. With over 50 creative industry bases, Chongqing has established a new development pattern in cultural and creative industries, encompassing film and media, cultural and museum tourism, creative design, performing arts and entertainment, original literature and art, animation and games, and intangible cultural heritage.
Chongqing boasts abundant health and wellness tourism resources, with 224 hot spring locations, 262 A-level tourist attractions, and 23 tourism resorts at the municipal level and above. Nationally recognized tourist resorts include Wulong Fairy Mountain and Fengdu Nantian Lake.
With its superior natural conditions and abundant resources, Chongqing is a key production base in China for high-quality grains, edible oils, condiments, pork, vegetables, and fruits. It serves as a base for hybrid rice seed production, a significant agricultural processing center, and a logistics distribution hub in western China.
The information is sourced from Investing Chongqing (2023). This article is updated on January 23, 2024.
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