The Master Plan of The Economic Circle

Southwest Union District will become a commercial innovation center

Experts and officials said that the newly announced master plan for the coordinated development. The Chengdu-Chongqing Economic Circle expect to enable China to respond to downward economic pressures in a more balanced growth.

They said that the plan will also help Southwest China tap potential talents. Further, improve the business environment and develop new business models.

The Central Committee of the Communist Party of China and the State Council issued on Wednesday. The “Master Plan for the Construction of Chengdu-Chongqing Region into a Nationally Influential Economic Center a Key Hub for Scientific and Technological Innovation, and a New Area for Reform and Opening Up.” And a place of high quality of life.

Zhou Mi, a senior researcher at the Beijing Institute of International Trade and Economic Cooperation,

said that the plan is very important because it covers a wide range of areas, has specific improvements and development goals. And focuses on improving the business environment. He said that the master plan will become an important guide for the future development of the region.

“Comprehensively improving the business environment a key part of the plan. Moreover, the region’s recent growth has a stronger advantage in this regard,” Zhou said.

“In recent years, the competition between the two urban agglomerations has become increasingly obvious. Urban agglomerations have obvious potential for high-quality development. He said, adding that the plan is essential to stimulate and balance growth in western China.

By 2025, the economic strength and international influence of the Chengdu-Chongqing Economic Circle will be significantly enhanced. The plan states that approximately 66% of permanent residents will live in urban areas. By 2035, the circle will become a positive engine for economic growth with international influence. The plan sets out steps to achieve goals, such as establishing destinations for global consumers and better integrating urban and rural development.

Zhang Zhisheng, an official of Chongqing Liangjiang New District, said that the two cities’ plans have clearly defined the mission of building modern industries.

“Next, we will better build cooperation platforms for enterprises, especially in the automotive manufacturing, electronics, digital economy and exhibition industries,” Zhang said, adding that it will reduce red tape and promote enterprise cooperation and integration.

Fang Liang, deputy manager of Chongqing Guoyuan Container Terminals Co., Ltd. Stated that the guide provides “an important opportunity to build our business into a modern port” and will “better play our role as a national logistics hub.”

The total area is approximately 185,000 square kilometers. In 2019, the combined region’s GDP was nearly 6.3 trillion yuan (984.7 billion U.S. dollars). Accounting for 6.3% of the national GDP. Moreover, the total population is 96 million, accounting for 6.9% of the country’s total population.

Liu Baokui, a researcher at the National Development and Reform Commission’s Institute of Spatial Planning and Regional Economics. Said that although the Chengdu-Chongqing area has made good progress in stimulating growth, there is still a gap compared with the coastal areas of the country. Further, Liu added that the new guidelines are expected to tap the region’s potential in attracting high-end talent and developing new business models.

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