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Chongqing Ranks 6th in 2020 Cities' Business Attractiveness in China

By RUI HUICHONGQING|Jun 04,2020

The Rising Lab, the big data project of Yicai Media Group, released its 2020 Ranking of Cities’ Business Attractiveness in China. The business attractiveness index of Chongqing reached 88.74, ranking second among the new first-tier cities. Counting the four first-tier cities, including Beijing, Shanghai, Guangzhou, and Shenzhen in, Chongqing also ranked sixth.

Compared with last year’s ranking, Chongqing overtook Hangzhou, up to one place. This year’s ranking focused on five indexes, including the concentration of commercial resources, the city as a hub, urban residents’ activity, lifestyle diversity, and future potential, and was based on the business attractiveness index of 337 cities at the prefecture-level and above in mainland China in 2019.

Chongqing rose to second place among the new first-tier cities, which shows that since 2019, the city has accelerated its efforts to build itself into an international consumption center, and its commercial influence, attractiveness, and development level have been steadily enhanced.

According to the ranking, Chongqing also had high urban residents’ activity index, as can be seen from the booming night economy in the city. For example, 9th Street, Guanyinqiao, Jiefangbei, Hongyadong, Beibin Road, and Nanbin Road attract a large number of citizens and tourists to spend money every night.

According to the Report on the Night Economic Influence of Chinese Cities jointly released by Tencent and Liaowang Institute in December 2019, Chongqing ranked first among China’s Top 10 Most Influential Cities of Nighttime Economy. 

Chongqing also came top in terms of the lifestyle diversity index. The ranking showed Chongqing had the most bookstores and movie theaters among the new first-tier cities. In addition, Tencent’s marketing big data showed that Chengdu was the city where citizens love music most among the new first-tier cities, followed by Dongguan, Xi’an, and Chongqing.

In terms of airport construction, Chongqing has formed an airport pattern where Jiangbei International Airport serves as the major one, and Qianjiang Airport, Wushan Airport, Wanzhou Airport, and Wulong Airport as branch ones.  In addition to Wulong Airport, which is still under construction, the other four airports handled more than 46 million passengers in 2019.

Chongqing is also the pioneer of China Railway Express and the starting point of the New International Land-Sea Trade Corridor (ILSTC). In 2019, Chongqing started the construction of two railways with a total length of 145 kilometers, including Chongqing-Kunming high-speed railway and four expressways with a total distance of 445 kilometers, such as Chongqing-Hunan line expansion project. More than 1,000 kilometers of railways and nearly 1,400 kilometers of expressways were under construction in Chongqing.

In addition, Chongqing also showcases the excellent potential for business. According to the conference on promoting high-quality development of services held in April this year, Chongqing will continue to cultivate and strengthen the emerging services, while resuming the development of the traditional services, which includes promoting high-end businesses to realize branding, experiential, interactive, and comprehensive development. At that time, various businesses in the city are expected to flourish together, said Li Jing, Dean of Economics College of Chongqing Technology and Business University.

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