Chongqing- Innovation is the driving force to lead development, supporting China to build a modern economic system. 

On January 17, at a special press conference held during the Chongqing Two Sessions, five deputies to the Municipal People's Congress, CPPCC members, and government department leaders offered advice and suggestions about Chongqing's promotion of high-quality development. The theme of innovation has become the keyword at the conference. 

The special press conference during Chongqing Two Sessions was held on January 17. (iChongqing/ Vivian Yan)

Manufacturing and R&D support

"High-quality development is always the main topic of our concern," said Wu Daofan, chairman of Chongqing Xiyong Micro-Electronics Industrial Park Development Co., Ltd. He stated that cost advantages no longer dominate modern manufacturing, and robust quality is the right solution.

Wu said that high-end R&D institutions and technological innovation enterprises are the core support for Chongqing to build a scientific and technological innovation center with national influence, serving as the best carriers for gathering high-end talents. 

So far, Xiyong Micro-Electronics Industrial Park has adjusted the industrial upgrading, from providing labor dividends to technical dividends to building the world's most important manufacturing and R&D base for intelligent terminal products. 

As the only industrial park named after micro-electronics in China, Xiyong Micro-Electronics Park persists in developing an integrated circuit industry, striving to build the country's largest power semiconductor and important integrated circuit R&D and manufacturing base.

Chongqing Xiyong Micro-Electronics Industrial Park. (iChongqing file photo)

A western financial center 

From Zhang Hongming, director of the Chongqing Municipal Financial Development Service Center, in the first three quarters of 2021, Chongqing's financial industry's added value reached 182.99 billion yuan, a year-on-year increase of 4.5%, accounting for 9.2% of the city's GDP.

As of November 2021, the city's loan-to-deposit ratio was 101.9%, 18.7 percent higher than the national level, which strongly supported the high-quality development of the city's real economy.

At present, economic development faces the triple pressure of demand contraction, supply shock, and weakening expectations. Promoting high-quality economic growth is the only way to open up a new situation. 

According to the plan of the Chengdu-Chongqing economic circle, building the western financial center is an excellent opportunity for Chongqing. "Chongqing should learn from the experience of building international and domestic financial centers and make good use of monetary funds, to serve the real economy with high quality," said Zhang. 

Construction of the intelligent city

At the press conference, Dong Jianguo, director of Chongqing Municipal Commission of Development and Reform, brought out first the report card.

"In 2021, Chongqing's economy achieved a significant improvement in quality and steady growth in quantity," addressed Dong. "Chongqing achieved a regional GDP of 2.78 trillion yuan, an increase of 8.3%. The main economic indicators were better than expected, while the high-quality development took a new step."

Dong Jianguo, director of Chongqing Municipal Commission of Development and Reform, delivered a speech at the press conference. (iChongqing/ Vivian Yan)

Dong introduced that Chongqing was building into a high-level intelligent manufacturing town and intelligent city over the past year. More than 8,000 big data enterprises and 370 key platform enterprises, with scientific and technological progress increasing to 59.5%. 

 "The role of innovation support has been further enhanced," said Dong. Chongqing promoted the deep integration of advanced manufacturing and modern service industries, which accelerated the development pilot area for inland service industries and the construction of an international consumption center city.