Strategic upgrading and clearer policy force. On January 3, 2020, the sixth meeting of the Central Committee of Finance and economics proposed to “promote the construction of Chengdu Chongqing dual city economic circle”, so as to make Chengdu Chongqing an important economic center with national influence, a center of scientific and technological innovation, a new highland of reform and opening up, and a livable place with high-quality life. The strategic positioning of “two centers and two places” accurately conforms to the comparative advantages of Chengdu Chongqing. At present, the Chengdu Chongqing twin city economic circle has risen to the strategic level as high as the national important regional planning of Beijing, Tianjin and Hebei, the Yangtze River Delta, Guangdong, Hong Kong and Macao. It will play a more important role in the new development pattern of double cycle and become the “fourth pole” to promote China’s economic growth. In October 2021, the programmatic document “outline of the construction planning of Chengdu Chongqing dual city economic circle” was issued, providing a clear direction for the implementation of the planning of Chengdu Chongqing dual city economic circle.
Chengdu Chongqing region is a high-quality development area in the western region Beijing Dynamic Power Co.Ltd(600405) , with great development potential. In recent years, with the promotion of urbanization and actively undertaking the westward migration of industries from the East, the core cities of Chengdu and Chongqing have made remarkable performance in terms of total economy, population, consumption and foreign trade. In 2021, the total economic volume of Chengdu Chongqing twin city economic circle was nearly 7.4 trillion yuan, accounting for about 6.5% of the national total economic volume. Among them, Chongqing and Chengdu dual core GDP ranked fifth and seventh in the country, and the total social zero ranked third and sixth in the country. The consumption capacity led the country, the industrial structure was constantly optimized, and the high-tech industry continued to support the high-quality development of industry. However, at the same time, there is still a gap between the economic strength of Chengdu and Chongqing and the developed eastern regions. There are also short boards such as the large gap in economic development between regions, the low degree of division and coordination of industrial chain, and the weak support ability of scientific and technological innovation. Making up for the shortcomings in relevant fields will become the driving direction of the construction of double city economic circle in Chengdu and Chongqing in the future.
Play a game of chess and meet the opportunity of characteristic industries. 1) Joint efforts to build a modern infrastructure network: at present, the infrastructure bottleneck in Chengdu and Chongqing is still obvious. Chengdu and Chongqing will speed up the construction of integrated transportation, clean energy, information infrastructure, Internet of vehicles and other aspects to improve the level of infrastructure connectivity. 2) Promote the integration of new industries in Sichuan and Chongqing, and foster the synergy and complementarity of their advantages in the field of information industry, so as to promote the development of a number of new electronic industries in Sichuan and Chongqing, Chongqing has built an advanced manufacturing cluster. 3) Building an international consumption destination: Taking the opportunity of “building an international consumption destination with Bashu characteristics”, Chengdu and Chongqing will give full play to their resource advantages in culture, tourism, food, commerce and trade, promote the upgrading of consumption supply and activate diversified consumption vitality. 4) Joint construction of western financial center: in December 2021, the people’s Bank of China jointly issued the plan of Chengdu Chongqing joint construction of western financial center, which is expected to continuously improve the influence of financial institutions, the level of financial innovation and the level of financial opening to the outside world in Chengdu and Chongqing.
Risk warning: repeated outbreaks outside China; The policy strength is less than expected; The profit of the enterprise is less than expected; Overseas Black Swan incident (political risk, sovereign rating downgrade), etc.
