By Xinyi Li, EDITOR

The 2nd Western China International Fair for Investment and Trade (WCIFIT) will last from May 16 to 19 at Chongqing International Expo Center. As a matter of fact, CPC Chongqing Municipal Committee and Chongqing Municipal People’s Government have been attaching great importance to the convention and exhibition industry over the past few years. Given that it is an important platform for opening-up, and a new engine for economic development, they pour great support into this industry.

With the rapid growth of international convention and exhibition economy, Chongqing gained over RMB 18 billion from it in 2018

The rapid growth of international convention and exhibition 

It was reported that Chongqing held 506 conventions and exhibitions in 2018, achieving a total exhibition area of 9.13 million square meters, direct revenue of RMB 18.16 billion and consumption of RMB 157.57 billion. With the marketization rate of 91.5%, this industry has significantly contributed to the sustainable, stable and sound development of business in this city.

Specifically, Chongqing International Expo Center received 46 exhibitions in 2018. Its exhibition area, totaling 1.9 million square meters, ranked top 10 in China.

Chongqing Yuelai International Convention Center held 190 conventions, of which 41 and 36 were for over 500 and 1,000 attendees respectively. 11 international conventions settled down there, almost equals the total of 2016 and 2017.

Such achievements prove that Chongqing has made notable progress in building convention and exhibition industry cluster. Meanwhile, the WCIFIT and Smart China Expo (SCE) have played significant roles in communication and cooperation, investment attraction and consumption upgrade both at home and abroad.

New WCIFIT steps into a larger arena

2018 is a milestone year in convention and exhibition industry development of Chongqing. In 2018, the city held the first SCE and became its permanent venue. More than that, the 20-year-old China Chongqing International Investment and Global Sourcing Fair (CCISF) was renamed as the Western China International Fair for Investment and Trade. Upgraded to a state-level exhibition, it is expected to lead such industry of Chongqing to a larger arena.

WCIFIT now becomes a significant platform in Western China to serve the whole country and the Belt and Road Initiative, in fields like economic and trade communication and investment attraction.

The upgraded version of CCISF witnessed a surprisingly great improvement in investors, events, exhibition effects, and social responses.

The second WCIFIT is going to open as planned, with increasingly larger scale and greater influence.

RMB 18 billion from convention and exhibition 

Conventions and exhibitions have remarkably improved the businesses and economics of Chongqing. In 2018, this industry created the direct revenue of RMB 18.16 billion and stimulated consumption of RMB 157.57 billion in such fields as catering, accommodation, tourism, entertainment, and shopping.

For instance, the first SCE attracted over 500,000 visitors, who brought year-on-year increases of 72.6%, 10.8%, and 0.7% respectively to accommodation, catering and retail enterprises in main urban areas.

Yuzhong District made great use of resources popular online, launching platforms like Popular Shops in Yuzhong and Play in Yuzhong to provide travel plans. As a result, attendance and turnover of shops located there realized stable growth.

Meanwhile, Nan’an District, as the best place in Chongqing to enjoy beautiful sceneries, attracted a raft of investors and tourists.

Additionally, China International Pharmaceutical Machinery Exposition, which visited Chongqing for the fourth time, covered an area of 160,000 square meters. More than 100,000 people from other cities came for this exhibition, triggering off another wave of consumption growth.

Source: Chongqing Morning News