Chongqing's Commercial Work Conference Emphasizes Key Initiatives

Promoting in Depth A Critical Year

On January 29, 2024, Chongqing convened its citywide Commercial Work Conference. The conference pointed out that over the past year, under the strong leadership of the municipal Party committee and government, the city's commercial system has seized the critical window for economic recovery and development following the transition of epidemic prevention and control. Despite challenges, it has defied the odds, forged ahead amidst difficulties, proactively reformed, innovated, and achieved significant results in commercial work, making positive contributions to the overall economic and social development of the city.

The conference emphasized that 2024 is a crucial year for achieving the goals and tasks of the 14th Five-Year Plan, a pivotal year for the comprehensive deployment and in-depth advancement of the construction of a modern new Chongqing, and a year of striving for breakthroughs in reform. It is essential to focus on seven aspects of work: accelerating the construction of an international consumer center city, promoting stable and high-quality foreign trade, making greater efforts to attract investment, enhancing the level of open platforms, strengthening reform and innovation breakthroughs, better coordinating development and security, and establishing an efficient collaborative linkage implementation mechanism.

Officials from the Special Office of the Ministry of Commerce in Chengdu, the Finance and Economic Committee of the Chongqing People's Congress, and the Economic Committee of the Chongqing Municipal Committee of the Chinese People's Political Consultative Conference, as well as the People's Governments of various districts and counties (autonomous counties), the management committees of Liangjiang New Area, Western Science City of Chongqing Hi-tech Zone, and Wansheng Economic and Technological Development Zone, and responsible persons of relevant departments and main financial institutions of the municipal government, relevant departments of the central government stationed in Chongqing, leaders of all economic and technological development zones, comprehensive bonded zones, and bonded logistics centers, members of the Chongqing Municipal Commerce Commission, heads of directly affiliated institutions, representatives from trade industry associations, and delegates from large-scale trade and distribution companies attended the meeting.

Accelerate the Construction of an International Consumer Center City
Accelerate the construction of an international consumer center city by introducing policies to promote consumption of bulk commodities such as automobiles and household appliances, vigorously developing the "four firsts economy". Thoroughly implement actions for commercial construction at the county level. Construct an international consumer core carrying area, promote the transformation and upgrading of characteristic commercial streets and historical and cultural districts, and comprehensively improve them. Cultivate consumption hotspots such as sports events, cultural performances, educational camps, and ice and snow summer resorts, and establish a number of key online product production bases and live streaming bases in production areas.

Building an International Consumer City
In July 2021, the State Council approved Chongqing and five other cities to take the lead in building international consumer center cities. In 2023, Chongqing seized the opportunity to pioneer the construction of an international consumer center city, coordinating the implementation of the "Ba Yu New Consumption" eight major actions, focusing on creating new landmarks, brands, and scenes for international consumption in Chongqing.

Four Economies
The "Four Economies" refer to "First Store, First Brand, First Show, and Launch".

Promote Stable and High-quality Foreign Trade
Continuously implement the "Chongqing Made Autos To Overseas" action plan to support auto companies in actively expanding into overseas markets. Build a Chongqing Railway Port Vehicle Import and Export Distribution Center, explore the development of petroleum, new energy and mineral resource import reserves, and distribution business. Deepen the "Hundred Delegations and Thousand Enterprises" international market development plan and continue to promote the "Chongqing's Global Trade" brand. Deepen cooperation with the ASEAN Industrial Alliance.

Action Plan for "Chongqing Made Autos To Overseas"

On December 5, 2023, the General Office of the Chongqing Municipal People's Government issued the "Chongqing Made Autos To Overseas" action plan, proposing that by 2027, the proportion of Chongqing's annual vehicle exports to the national total vehicle exports will reach 10%; Build 1-2 leading domestic intelligent connected new energy vehicle export enterprises and brands, and continuously improve the overseas factory layout of the enterprises; The intelligent connected new energy vehicle industry has formed a strong international radiation capability, with an annual export amount exceeding 120 billion CNY.

Greater Efforts to Attract Investment
Focus on targeting Europe, the Middle East, ASEAN, and Hong Kong, among other countries and regions, and implement targeted actions to attract foreign investment. Establish mechanisms for lists of incremental foreign investment projects and lists of projects for capital increase and production expansion, promoting the rapid implementation of landed projects, expediting the implementation of projects under negotiation, and efficiently converting reserve projects. Implement a series of investment promotion activities under the "Invest in Chongqing" initiative, striving for monthly events and quarterly signings. Accelerate the formulation of special support policies for foreign investment, such as encouraging foreign investors to establish research and development centers, and continue to carry out the "three sends and one visit" activities.


FORTUNE GLOBAL 500
In 2023, Chongqing established 387 new foreign-invested companies, a year-on-year increase of 44.4%. 319 of the Fortune 500 companies settled in Chongqing

Enhance the Level of Open Platforms
Benchmarking against high-standard economic and trade agreements such as DEPA and CPTPP, greater efforts will be made to promote institutional opening pilot projects. The comprehensive implementation of the free trade zone enhancement strategy will be pursued, striving to build a new highland for reform and opening up in the new era. Efforts will be made to promote the high-quality development of China-Singapore projects, accelerating the formation of exemplary achievements in the modern service economy. Focus will be placed on tackling key challenges to establish a new type of commercial bank and equity fund for the land-sea new channel, while continuing to advance the construction of the China-Singapore cross-border financing channel and the China-Singapore aviation industrial park.

DEPA
Digital Economy Partnership Agreement (DEPA)

CPTPP
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
On January 26, 2024, the Ministry of Commerce stated that the Ministry actively promoted China's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA). In August 2022, the Working Group on China's Accession to DEPA was established, and more than 10 rounds of ministerial-level negotiations, department-level negotiations, and technical-level negotiations have been completed. The preliminary discussions on all terms of the DEPA negotiations have been completed.

Strengthening Reform and Innovation Breakthroughs
Chongqing will resolutely wage the tough battle of reform, promote the revitalization of state-owned assets in the fields of openness and commerce. We will deepen the comprehensive pilot program for opening up the service industry, actively promote the standardized and healthy development of bonded maintenance. We will advance the leader plan for the integration of domestic and foreign trade, and deepen the construction of cross-border e-commerce comprehensive pilot zones. We will optimize the foreign trade "order+list" monitoring and early warning system, and improve the digital function of the international trade "single window".

Deepening the Comprehensive Pilot Programme for Expanding the Opening up of the Service Industry

In April 2021, Chongqing was approved as a comprehensive pilot zone for expanding the opening up of the service industry. Currently, the implementation rate of the pilot tasks for expanding the opening up of the service industry in Chongqing has reached 95.3%.

Cross-border E-commerce Comprehensive Pilot Zone
In 2016, Chongqing was approved as a national comprehensive pilot zone for cross-border e-commerce.

Better Coordination of Development and Security
Consolidate and strengthen the foundation of secure development, continuously enhance the capability to prevent and mitigate risks, improve the security guarantee system that matches high-level openness, and dynamically maintain economic security in the context of higher levels of openness and higher-quality development. Persistently carry out work on safety production, comprehensively conduct large-scale investigations and rectification of safety risks and hazards, and focus on strengthening supervision and inspection of key locations in the commercial sector.

Establish Efficient Collaborative Linkage Implementation Mechanism
Strengthen departmental collaboration and linkage, optimise and improve the core indicators of competition at the district, county, and platform levels, improve the tracking and supervision mechanism throughout the entire chain and cycle, promote a culture of emphasizing practical work and implementation, strengthen work scheduling, and pay close attention to operational regulations and achieving each task.