Photos show the Raffles City, Singapore's largest investment in China, in Yuzhong district, Chongqing municipality. [Photo courtesy of Yuzhong District Commission of Commerce]

Yuzhong district, the economic heart of western China's Chongqing municipality, is stepping up its transformation into a global consumption center. With a focus on becoming more upscale, international, and distinctive, Yuzhong is enhancing both supply and demand to boost consumer vitality, global appeal, and overall market competitiveness.

Photos show the Bayi street of the Jiefangbei business district in Chongqing municipality. [Photo courtesy of Yuzhong District Commission of Commerce]

The district is now home to 143 Fortune Global 500 companies including Maersk, 433 financial institutions, more than 1,000 foreign-funded enterprises, and over 500 key headquarters. With just 0.028% of Chongqing's land, Yuzhong generates 5.4% of the city's GDP. 

It was also the first district in western China to surpass 140 billion yuan (US$19.08 billion) in total retail sales of consumer goods, ranking it among the top city centers nationwide for economic density, investment intensity, and consumer activity.

Photos show the Jiefangbei business district, the most vibrant shopping hub in Chongqing. [Photo courtesy of Yuzhong District Commission of Commerce]

Yuzhong has taken the lead in building Chongqing's first pilot zone for payment convenience. In partnership with Chengdu's Chunxi Road and Ant Group, it launched a joint initiative to create inbound-friendly shopping districts across the Chengdu-Chongqing area. The district now hosts 24 duty-free stores—about one-third of the city's total. In 2024, sales of tax-free goods in Yuzhong grew tenfold, with around 65,000 foreign card transactions recorded.

Yuzhong is also pioneering new models for cross-border shopping. Platforms like CW New Retail have introduced bonded display zones combined with fast cross-border e-commerce delivery, offering a wide range of imported goods—from baby products and health supplements to cosmetics and household items. Together, they account for over 80% of the city's cross-border retail orders and sales, giving consumers more convenient and diverse international shopping options.

Photo shows the Shibati traditional-style scenic area in Yuzhong district, Chongqing municipality. [Photo courtesy of Yuzhong District Commission of Commerce]

Yuzhong's dynamic business environment has driven impressive growth in its central business district (CBD). Jiefangbei CBD became the first in western China to exceed 100 billion yuan in annual retail sales. It climbed from 5th to 4th place in the 2024 Forbes China CBD Consumer Competitiveness Rankings, following only the Beijing CBD, Shanghai Lujiazui CBD, and Guangzhou Tianhe CBD.

Yuzhong has also been recognized as one of the "Top 10 Most Dynamic CBDs," "Top 10 Inbound-Friendly Shopping Districts, a "Top 20 Business District by Overall Competitiveness," and one of China's most influential consumption-driven commercial zones.

Related

Go to Forum >>0 Comment(s)