Chongqing- Chongqing's experts from the real estate industry, design institutes, and commercial retail gathered on August 18 to discuss the opportunities for Chengdu-Chongqing's dual-core international consumption, focusing on new retail, upgrading commercial complexes, logistics, and warehouses.

Real estate industry associations, design institutes, and commercial retail experts shared their insights in Chongqing on August 18. (Photo provided to iChongqing)

Chongqing is active in casual dining

"We can focus on urban renewal and park cities in the future," said Xu Youting, head of Savills Chongqing Strategy Advisory Department. "Regional renewal demonstration projects are implemented for urban renewal to improve regional consumption quality."

Regarding park city, Xu believes that park city's "park plus" mode will create new scenarios of park-style consumption. As part of current pandemic prevention efforts, local leisure and consumption are also potential opportunities for park cities.

"In recent years, Chongqing has made great achievements in brand investment, cross-border e-commerce, and foreign trade," said Pan Linghong, senior manager of Savills Western China Market Research Department. "As Chongqing develops into an international consumption center city, many brands are settling their first store in the city."

Pan said it is particularly active in the segmented markets such as casual dining, dessert, and tea, showing a positive outlook on Chongqing's catering industry and diversified market development.

In July 2021, the State Council approved Chongqing as one of the first batches of international consumption center cities. In February 2022, the Chongqing Government released related policies to accelerate the construction of the international consumption center city.

Excavate Chengdu-Chongqing culture highlights

Building an international consumption destination with Bashu characteristics was shown in the master plan of constructing the Chengdu-Chongqing economic circle in southwest China. 

According to the document, the plan indicates that the Chengdu-Chongqing economic circle is expected to become a powerful economic driver with international influence by 2035.

Experts believe that Chengdu-Chongqing can create an international consumption destination by developing Chongqing's landscape, fashion, food, night view, and health care and launching four brands of Chengdu's leisure, consumption, creation, and service.

Bronze head with a golden mask, collection of Sanxingdui Museum in Guanghan city, Sichuan Province, China. (iChongqing file photo)

Chongqing has Bayu culture and Three Gorges culture, while Chengdu has Three Kingdoms culture and Sanxingdui ancient Shu culture. According to a plan released by Chongqing Municipal Commission of Culture and Tourism Development, Sichuan and Chongqing will work together to grow the Bashu Cultural Tourism Corridor into a one-trillion-yuan-level market, a national-level cross-regional featured cultural and tourism industry belt with international influence, popularity, and competitiveness. Experts suggested that the two places could highlight their respective strengths and integrate tourism and consumption campaigns.

In addition, a total of 50 million people live in the Chengdu-Chongqing area. The significant consumption demand can drive economic growth and promote innovation and upgrade consumption so that both places can attract international consumers.

In 2021, the economic aggregate of the Chengdu-Chongqing economic circle exceeded 7 trillion yuan (about 1 trillion U.S. dollars ), the annual economic growth rate exceeded the national average, and the total retail sales of goods reached 3.46 trillion yuan. The market of the Chengdu-Chongqing economic circle is bursting with vitality, regional cooperation has become more extensive, and significant power sources have emerged.