Chongqing - China’s cities are being reshaped by a new trend: the building economy. By turning commercial buildings into business magnets, cities like Chongqing and Chengdu are redefining urban growth. On May 20, experts from both cities gathered to discuss how this model is driving the future of urbanization.

On May 20, experts from Chongqing and Chengdu convened to explore how building an economy is redefining urbanization. (Photo/Yuzhong District)

The Chengdu-Chongqing building economy has undergone significant evolution, advancing from the physical space integration of the 1.0 era to the digital, intelligent ecological symbiosis of the 5.0 era. These structures are no longer just concrete shells; they have become interconnected ecosystems that prioritize data utilization, sustainability, and global collaboration.

Yet, a paradox remains. According to JLL’s Q1 report, the average vacancy rate for Grade A office buildings in Chengdu and Chongqing stands at 33%, highlighting a relatively high level of underutilization.

At the same time, the tax contribution per square meter of these buildings is 3.8 times that of commercial complexes, indicating untapped potential in the vertical economy. The core challenge lies in overcoming persistently high vacancy rates and resolving coordination issues between buildings.

Experts note that the building economy is shifting strategically, from a race for physical height to a focus on value density. This transition is essential to unlocking the latent value masked by vacancy and inefficient connectivity.

A prime example is the Chongqing World Financial Center (WFC), a supertall skyscraper and flagship project in the local building economy. General Manager Gao Yu shared that the WFC has attracted over 100 high-quality enterprises and generates more than 100 million yuan (approximately 13.9 million USD) in annual tax revenue.

Over the past decade, the WFC has hosted over 100 internal events, 30% of which directly support enterprise development. These include AI forums, policy briefings, youth networking events, and cultural experiences.

Such initiatives have nurtured an innovation-friendly ecosystem and fostered a shared sense of identity among over 4,000 white-collar workers. By activating underutilized urban space, the building economy is emerging as a key driver of sustainable and inclusive urban development.

As the Chengdu-Chongqing economic circle continues to rise, the future of city building will be defined not just by steel and glass, but by intelligent collaboration, value creation, and community integration, where every floor becomes a platform for growth.