Yubei District of SW. China’s Chongqing to build high-quality economic zone in 5 years

Yubei District of southwest China’s Chongqing Municipality will accelerate the construction of a high-quality economic zone, an airport economic zone with high-level opening-up, a sci-tech innovation area with high energy capacity and an urban-rural area with high-quality living standard in the next 5 years, according to Yu Huiwen, Party chief of Yubei District, who made a report at a conference held in Chongqing Yubei District on Tuesday.

In the master plan for the construction of the Chengdu-Chongqing economic circle issued by the State Council, 11 items are closely related to the planning and development of Yubei District, which will bring more talents, logistics, business, cash flow, information flow and technologies to Yubei, said Yu.

By 2026, Yubei will become a leading force in terms of economic strength in Chengdu-Chongqing region, with the total economic volume reaching 320 billion yuan and the total industrial output value above the designated scale amounting to 520 million yuan.

Yubei will also bring its opening-up to a higher level by further enhancing transportation system, building logistics hub and yielding fruitful achievements in China-Singapore Connectivity Initiative project and free trade zone (FTZ) construction.

The total import and export volume is projected to exceed 1 trillion yuan while foreign investment in actual use is expected to reach 12 billion U.S. dollars.

In addition, Yubei will mull efforts in industrial innovation with the research and development expenditure accounting for five percent of the total and the innovation ability ranking among the first-class in China.

The output value of high-tech manufacturing industry is expected to account for more than 50 percent of the total industrial output in the district, making it the most dynamic and innovative urban area in Chengdu-Chongqing region.

Apart from the future planning, the report reviewed the achievements Yubei has made in the past five years. Its import and export volume in the past five years totaled nearly 770 billion yuan, accounting for one fourth of Chongqing, and the foreign investment in actual use ranked first in the city for five consecutive years.