Chongqing’s 23 policies to create an international consumer hub

February 2022, the General Office of the Chongqing Municipal Government issued the "Policies for Fostering and Building International Consumption Centrein Chongqing" with the aim of driving the transformation of the region into a key consumer centre. The 23 policies include a range of financial incentives and credit access for new consumer businesses including Rmb 1 million in various incentives for brands that have not yet opened stores in Chongqing.

Various awards and subsidies are available to encourage districts and counties to foster the creation of pilot demonstration districts and counties, and encourage the development of key shopping areas, pedestrian streets, night market blocks, international logistics distribution centres, import and export commodity distribution centres and other commercial carriers. Different levels of incentives will be given to those who are classed as international consumption centre districts, regional consumption centre cities, cities with integrated development of business, culture, tourism and sports, national and municipal demonstration shopping districts, pedestrian streets and night markets, national demonstration pilot cities for cultural and tourism consumption and pilot cities for sports consumption.

Among them, the districts and counties included in the pilot will be given financial incentives of Rmb 5 million to 10 million; international logistics distribution centres with self-built warehousing facilities with an annual import and export volume of a certain scale will be given a one-time incentive of 1% of the total investment amount, with a maximum support of Rmb 5 million for a single enterprise; the maximum financial incentive of Rmb 1 million will be given to those who establish distribution centres for import and export commodities such as automobiles, motorcycles and spare parts, consumer goods and other types.

In addition, Chongqing will offer financial incentiveto strengthen the introduction and cultivation of leading enterprises, commercial brand first shops and famous exhibition enterprises, and actively build a global gathering place for high-quality market subjects and a preferred place for internationally renowned brands.

There are various levels of subsidies for leading domestic and international brands which open their first shop in Asia, mainland China, Southwest China or Chongqing. These run up to 40% of the investment amount and up to RMB 1 million. For the new flagship stores with an operating area of 3,000 square meters in the central city, there are financial incentives up to RMB 1 million.

Chongqing will also provide project funding to encourage the development of unique brands and e-commerce, and deliver consumer promotion activities. It also aims to revitalize local brands, create flagship shops for them, experiential shops, and custom centres,and offer up to Rmb 1 million in incentives according to the size of the investment. For the cultivation and development of smart restaurants, unmanned convenience stores and other new models there are incentives worth up to Rmb 500,000.


Source: Chongqing Daily