Chongqing - Southwest China's Chongqing Municipality recently announced that it aims to achieve a total industrial output value of 4 trillion yuan (about USD 555.66 billion) by 2027, with manufacturing's added value accounting for 28% of GDP. 

In September, the State Council, China's cabinet, revealed plans to relocate industries from the eastern region to central and western areas, with Chongqing being the top choice for this coastal industrial transfer.

Cushman & Wakefield, a global leader in commercial real estate services, analyzed the policy, emphasizing that a multi-level approach and technological innovation are key to integrating new and traditional industries.

Specifically, Chongqing should focus on combining industrial transfer with upgrading, attracting leading enterprises, and accelerating the development of demonstration parks for industrial transfer. It should also strengthen strategic material reserve bases and promote the construction of key infrastructure.

Foreign guests experienced Changan Deepal cars in Chongqing. (Photo/Chen Zhan)

In technology, Chongqing should prioritize innovation and R&D and boost investment in established and emerging sectors such as artificial intelligence and quantum information.

Cushman & Wakefield also highlighted the importance of a city's business environment as its core competitive advantage. Chongqing should focus on optimizing this environment by adopting a user-centric approach, addressing challenges faced by enterprises, and enhancing services for foreign investors. This includes improving the foreign investment process, refining the complaint resolution system for foreign enterprises, and streamlining the tracking of major foreign investment projects.

Additionally, Chongqing should work to increase exports of new energy vehicles, large-scale equipment, and distinctive consumer goods to ASEAN countries, leveraging the New International Land-Sea Trade Corridor.

Cushman & Wakefield has actively participated in Chongqing's industrial transformation by supporting key projects. For example, the company assisted Faurecia Clarion Electronics in selecting a site for its R&D headquarters in Chongqing. It also helps the firm secure policy subsidies and boosts its confidence in investing in the city.