The 2024 Jiefangbei Forum and its associated events were successfully held in Yuzhong District, Chongqing, on November 27-28, 2024. The forum, centered around the theme “Global Consumer Insights: The Transformation and Enhancement of International CBDs,” was jointly organized by Forbes China and the People’s Government of Yuzhong District, Chongqing.
2024 Jiefangbei Forum Main Forum Venue
The Charm of Yuzhong District: The Opening Chapter
City Walk Corporate Visit
The City Walk corporate visit, held on the afternoon of November 27, marked the official opening of the 2024 Jiefangbei Forum. Senior executives and representatives from over a dozen companies across various industries from China and overseas countries, organized and accompanied by officials from Forbes China and the Jiefangbei Central Business District Management Committee, visited key industrial projects. These included Raffles City Chongqing, Fosun International, Metropolitan Oriental Plaza, Mixc Xinhua Center, and the International Land-Sea Center. The group also explored several industrial hubs, commercial complexes, and traditional landmarks, concluding their visit at the Forbes China Chongqing Lounge.
City Walk Corporate Visit
Key Projects Presentation and Exchange
Investment and Financing Matchmaking Session
One of the forum’s major highlights, the Investment and Financing Matchmaking Session, took place on the afternoon of November 27. Organized by the Chongqing Yuzhong District Economic and Information Commission, the Jiefangbei Central Business District Management Committee, and other relevant departments, the session brought together senior executives and representatives from leading domestic and international investment institutions. They engaged in dynamic discussions with project leaders, fostering collaboration and investment opportunities.
Investment and Financing Matchmaking Session
At the session, Li Zhaoqi, Executive Editor-in-Chief of Forbes China, delivered a speech. He emphasized that Chongqing has become an increasingly important city for Forbes China in recent years. He highlighted the city’s remarkable consumer growth and robust economic performance, which have positioned it among the country’s leading cities. Li also expressed his honor in inviting representatives from prominent investment institutions to the session and extended his sincere gratitude to the relevant departments of Yuzhong District, Chongqing, for their invaluable support and assistance.
Li Zhaoqi, Executive Editor-in-Chief of Forbes China, Delivered a Speech
The head of the Investment Department of Chongqing Yuzhong District State-owned Assets Co., Ltd. introduced the Yuzhong District Industrial Investment Fund, outlining its strategic goals. The fund aims to leverage capital as a key driver by focusing on new productive forces and industry leaders to promote upstream-downstream collaboration. It seeks to build strategic alliances with leading funds across the ecosystem, expanding its network and fostering cooperation in three key areas: sub-funds, joint investments in key enterprises, and alliances between industry funds. By facilitating mutually beneficial partnerships between industry and capital, the fund aims to stimulate collaborative innovation in regional industrial development.
Hu Ran, Head of the Investment Department of Chongqing Yuzhong District Commerce State-owned Assets Co., Ltd., Introduced the Yuzhong District Industrial Investment Fund
During the session dedicated to key projects and enterprises, several representatives introduced their projects: Zhu Jian, General Manager of Kangxiang Company, presented the Yanziyan Aircraft Terminal Project; Li An, General Manager of Pathea Games, introduced the Pathea Project; Yang Yi, Director of the Board at VisionVera, presented the VisionVera Project; Yang Jun, Chief Technology Officer of Huazhi Future, introduced the Huazhi Future Project; and Zhang Yu’ang, CFO of MURVEY·LF, presented the MURVEY·LF Project.
Following these presentations, representatives from investment institutions engaged in discussions with the project and enterprise leaders, as well as key officials from Yuzhong District.
Pooling Ideas and Discussing Major Plans
Meeting with the Officials of Yuzhong District, Chongqing
On the afternoon of November 27, Huang Maojun, Secretary of the CPC Yuzhong District Committee, met with distinguished guests at the forum. He provided an overview of the recent economic and social developments in Yuzhong District, listened to ideas and suggestions from representatives of leading enterprises, and engaged in constructive and cordial discussions. This conversation laid a solid foundation for future cooperation.
Yuzhong District Officials Met with Distinguished Guests at the Forum
Zhang Qinglian, President of Forbes China Group, attended this meeting and delivered a speech.
Zhang Qinglian (left), President of Forbes China Group; and Huang Maojun, Secretary of the CPC Yuzhong District Committee
A Dazzling Debut at the Grand Opening of the Forbes China Chongqing Lounge
The Grand Opening Dinner of the Forbes China Chongqing Lounge
On the evening of November 27, the welcome dinner took place at the newly inaugurated Forbes China Chongqing Lounge, marking the venue’s grand debut.
The Grand Opening Dinner of the Forbes China Chongqing Lounge
The dinner was attended by Zhang Qinglian, President of Forbes China Group, and Luo Yi, Vice District Mayor of Yuzhong District, Chongqing, both of whom delivered welcome speeches.
Zhang Qinglian, President of Forbes China Group, Attended the Event and Delivered a Speech
Luo Yi, Vice District Mayor of Yuzhong District, Chongqing, Delivered a Welcome Speech
The dinner set a vibrant and relaxed atmosphere, creating a perfect prelude to the main forum and themed salon the following day. The stunning debut of the Forbes China Chongqing Lounge added a memorable touch to this year’s forum.
A Convergence of Elites, Bridging the Past and the Future
The 2024 Jiefangbei Forum’s Main Forum Held in Grand Style
The main forum of the 2024 Jiefangbei Forum was held on the morning of November 28 at the InterContinental Chongqing Raffles Hotel in Yuzhong District, Chongqing.
The forum brought together senior executives from international luxury brands, leaders in commercial real estate, financial institutions, and key figures from various industries and consumer markets. Discussions focused on leveraging opportunities for collaborative urban development in Chongqing, driving industrial growth, and advancing upgrades to the consumer landscape, with the aim of fostering deeper and broader cooperation.
Representatives from the consulates of Belarus, Italy, Canada, and Uruguay in Chongqing also attended the forum.
2024 Jiefangbei Forum Main Forum Site
Huang Maojun, Secretary of the CPC Yuzhong District Committee, delivered the opening speech. He emphasized that Yuzhong is the heart of Chongqing, a vibrant urban core, a center of excellence, and a model district of distinction. With top-tier economic density, investment intensity, and consumer demand, it stands as a leader in Western China. Yuzhong District is committed to becoming a world-class, iconic business hub, a gateway for both domestic and international connections, a trendsetting center that blends global style with Chongqing’s unique local flair, a diverse consumer destination, and a model of quality that appeals to both locals and visitors alike. With immense development potential, Huang expressed his hope to collaborate with all sectors of society to unlock new momentum, seize emerging opportunities, and create lasting advantages.
Huang Maojun, Secretary of the CPC Yuzhong District Committee, Delivered Opening Remarks
Zhang Qinglian, President of Forbes China Group, emphasized in his speech that, in its focus on the development of Chinese cities, Forbes China has recognized Chongqing’s distinct advantages. These include its alignment with national strategies, its role as a central urban hub, its position as an open window for trade, and its seamless integration of mountains, rivers, and culture. Moreover, Chongqing leads in modern service industries, boasts comprehensive infrastructure, provides a favorable business environment for startups, and holds significant innovative potential. Collectively, these factors position the city as a key player in China’s ongoing development and growth. In recent years, Forbes China and Chongqing have engaged in a series of high-level, high-quality, and multifaceted collaborations. Forbes China has been deeply impressed by the progressive and open-minded attitude of Yuzhong District, its great vision, and its bold creativity as the city moves forward on its path of modernization and internationalization.
Zhang Qinglian, President of Forbes China Group, Delivered a Speech
Li Xunfu, Deputy Director of the Chongqing Municipal Commission of Commerce, also delivered a speech in which he highlighted that, in recent years, Yuzhong District has concentrated on expanding domestic demand, increasing external openness, and promoting innovation. The district has worked diligently to enrich consumer offerings, enhance consumer experiences, and optimize the consumption environment. Additionally, it has further opened the service sector and made significant strides in the development of the Pilot Free Trade Zone. The Jiefangbei Central Business District, located at the convergence of the Yangtze and Jialing Rivers, promotes industrial integration and drives developmental convergence. The district is actively strengthening its momentum for openness and innovation, optimizing the quality and capacity of its core industries, and significantly advancing the modernization of its service infrastructure.
Li Xunfu, Deputy Director of the Chongqing Municipal Commission of Commerce, Delivered a Speech
Next, the signing ceremonies for two major agreements were held: one for the 2024 key industrial projects in the Jiefangbei Central Business District, and another for the partnership to jointly build an international consumer center city.
2024 Signing Ceremony for Major Industrial Projects in Jiefangbei Central Business District
Signing Ceremony of City Partners forBuilding an International Consumer Center City
Following this, Shan Junyanjie, Director of Commercial Content and Selection at Forbes China Group, announced and explained the results of the 2024 Forbes China Central Business District Consumer Competitiveness Selection. She noted that compared to last year, this year’s ranking has been optimized and enhanced. In addition to continuously tracking key economic indicators such as GDP and total retail sales of consumer goods in the cities where each central business district is located, the evaluation now also places greater emphasis on factors like internationalization and consumption. The research revealed three key insights: total retail sales of consumer goods reflect urban consumption trends; cross-border business “chains” are strengthening global connectivity; and significant progress has been made in the development of digital and smart infrastructure.
Shan Junyanjie, Director of Commercial Content and Selection at Forbes China Group, Announced and Explained the Results of the Selection
Xie Dong, Deputy Secretary of the CPC Yuzhong District Committee and District Mayor of Yuzhong District delivered a promotional speech focusing on the “Doubling Growth” initiative for world-renowned multinational corporations and international brands in the Jiefangbei area. He emphasized that with the continued development of the Chengdu-Chongqing Twin-City Economic Circle, the New International Land-Sea Trade Corridor in the Western Region, and Chongqing’s efforts to establish itself as an international consumer center, Yuzhong District is entering a new phase of significant development opportunities. From 2025 to 2027, the district will focus on five key development areas: spatial layout, industrial capacity, consumption quality, openness and innovation, and comprehensive infrastructure improvement. The goal is to transform the Jiefangbei Central Business District into the first CBD in Western China to achieve the dual milestones of 100 billion yuan in both GDP and total retail sales of consumer goods.
Xie Dong, Deputy Secretary of the CPC Yuzhong District Committee and District Mayor of Yuzhong District Delivered a Promotional Speech
Ma Qing, Chief Representative for the Asia-Pacific Region and Head of China Research at the Institute of International Finance, delivered a keynote speech titled “The Iterative Evolution of Internationalized CBDs in the New Pattern of Comprehensive Opening-Up.” He pointed out that as trade in emerging markets continues to thrive and becomes a key driver of China’s foreign trade, the country’s economic focus will gradually shift from the coastal regions to the central and western areas. As a major economic hub in Western China, Chongqing is already on its way to becoming a central player in the global economy. Ma also expressed his hope to offer greater support for Chongqing in its efforts to establish the city as a financial center in the West, and for Yuzhong District in further developing its financial industry.
Ma Qing, Chief Representative for the Asia-Pacific Region and Head of China Research at the Institute of International Finance, Delivered a Keynote Speech
Chen Jiyu, Executive CEO and CFO of Lanvin Group, delivered a keynote speech titled “The Fashion Revival of a Century-Old Brand,” in which he discussed how the integration of technology and sustainable development principles into the fashion industry over the next 5-10 years could unlock immense potential. He emphasized that China has seen rapid growth in fashion consumption in recent years, and it will continue to be the core market for the fashion industry in the coming decade. Furthermore, with the increasing localization of elements like color schemes and design styles across Asia, the traditional dominance of Europe and the U.S. in fashion is set to evolve.
Chen Jiyu, Executive CEO and CFO of Lanvin Group
Next, the roundtable discussion began. The theme of the first roundtable was “New Consumption Trends, Business Models, and New Formats,” moderated by Guan Zijun, Director of New Media Content at Forbes China Group. The panel featured Shang Lingyan, Managing Director of Le Cordon Bleu Greater China; Zhou Jinlong, General Manager of the Southwest China Commercial Division at CR Mixc Lifestyle; and Tu Zheng, Founding Partner of Borchid Capital.
Roundtable Discussion: New Consumption Trends, Business Models, and New Formats
Shang Lingyan, Managing Director of Le Cordon Bleu Greater China, shared insights into the brand’s 130-year legacy as a globally renowned leader in culinary education. Over the past two years, Le Cordon Bleu has noticed a growing consumer focus on food culture, social dining experiences, and healthy and sustainable eating habits. In Response to these evolving trends, the institution continues to pursue excellence while innovating its curriculum to highlight local culture and art. The brand is also incorporating technology by introducing online and immersive learning models to stay aligned with the latest trends.
Shang Lingyan, Managing Director of Le Cordon Bleu Greater China
Zhou Jinlong, General Manager of the Southwest China Commercial Division at CR Mixc Lifestyle, noted that China’s luxury goods market in China is currently undergoing a period of adjustment, the mass consumer market is becoming increasingly dynamic. Some projects, primarily driven by high foot traffic, are performing exceptionally well. He also emphasized the growing influence of Generation Z, especially those born after 2000. This group is highly brand conscious but exhibits lower brand loyalty, seeking out new products, services, and experiences. This shift presents both opportunities and challenges for brands and shopping malls.
Zhou Jinlong, General Manager of the Southwest China Commercial Division at CR Mixc Lifestyle
Tu Zheng, Founding Partner of Borchid Capital, stated that since 2012, the rise of the Internet has largely met basic consumer demands, making consumers more discerning and selective. This shift has driven brands and products toward extreme refinement. However, despite these efforts, there are still relatively few leaders in niche industries. As a result, branding has always been the “rose of time,” with the process of building a brand being a gradual and long journey. At the same time, the consumer goods market has undergone significant changes. Consumers are increasingly drawn to affordable products, consumption patterns are becoming more segmented, and emotional spending is on the rise.
Tu Zheng, the Founding Partner of Borchid Capital
Following the first roundtable discussion, a fireside chat titled “Generation Z: Breaking Barriers and Preserving Traditions in Young Consumer Behavior” was held between Graham Earnshaw, Chief Strategy Officer of Forbes China Group, and Wang Jun, CEO of Scabal China.
Fireside Chat: Generation Z: Breaking Barriers and Preserving Traditions in Young Consumer Behavior
Graham Earnshaw, Chief Strategy Officer of Forbes China Group, and Wang Jun (right), CEO of Scabal China
During the conversation, Graham Earnshaw, Chief Strategy Officer of Forbes China Group, began by discussing the changes in Chongqing’s economy and consumer behavior over the past three decades. He explored topics such as Scabal’s positioning as the “King of Fabrics” in the luxury market, the evolving tastes of Chinese consumers, the future direction of the high-end fashion market, and strategies for attracting the younger local consumers. Valuable insights were exchanged in these key areas.
Wang Jun, CEO of Scabal China, believes that with the ongoing development of China’s economy, consumers are increasingly prioritizing the value and cultural significance that luxury brands offer when making purchasing decisions. This trend is particularly evident for Generation Z, who prioritize social responsibility, cultural values, and storytelling, seeking brands that align with their personal beliefs. As a result, there has been a profound shift in consumer tastes and perceptions of fashion. For Scabal, one of the biggest challenges is integrating the brand’s bespoke culture with local Chinese traditions. This involves effectively communicating its brand story and cultural heritage while gaining recognition from Chinese consumers.
In the following second roundtable discussion, Wang Tiantian, Vice President of Business Development for Asia-Pacific at Authentic Brands Group, and Sun Qingfeng, Chairman of Shanghai Woo Brand Management Co., Ltd., participated in a conversation moderated by Guan Zijun, Director of New Media Content at Forbes China Group. The discussion focused on the theme “From Consumer Power to Vitality: The Brand’s Breakthrough and Reinvention.”
Roundtable Discussion: From Consumer Power to Vitality: The Brand’s Breakthrough and Reinvention
Wang Tiantian, Vice President of Business Development for Asia-Pacific at Authentic Brands Group, shared that in today’s highly competitive brand landscape, collaboration and mutual benefit are key strategies. Through partnerships with numerous local Chinese companies, the brand has discovered that these companies possess strong supply chains, talent pools, resources, and policy support, making them well-positioned to build successful brands. In recent years, Authentic Brands Group has been introducing international brands to China, leveraging domestic resources and platforms to help these brands gain a solid foothold in the market.
Wang Tiantian, Vice President of Business Development for Asia-Pacific at Authentic Brands Group
Sun Qingfeng, Chairman of Shanghai Woo Brand Management Co., Ltd., believes the next decade will bring dramatic shifts to the luxury goods industry. He outlined this transformation in four key phrases: “Innovative evolution, intense competition, rebalancing, and the revival of prosperity.” He predicts that 2025 will mark a period of heightened competition and transformation, requiring adjustments and expansion in product categories. By 2026, collaboration will likely become even more critical to navigating the challenges ahead. Following intense competition in the luxury goods sector, a new balance will emerge, leading to a resurgence of prosperity. Amid these changes, several brands are expected to thrive, filling the gaps left by Western brands in areas such as product value, service quality, and opportunities for import-export.
Sun Qingfeng, Chairman of Shanghai Woo Brand Management Co., Ltd.
The third roundtable discussion took place shortly after. The theme of this roundtable was “From Investment to Empowerment: Upgrading Consumption and Enhancing Urban Development,” moderated by Li Zhaoqi, Executive Editor-in-Chief of Forbes China. The discussion featured Xu Lejia, Founding Partner of Ondine Capital; Jiang Ying, Senior Vice President and China Partner at FirsTrust Group; Xue Yuning, General Manager of Certain Capital Corporation; and Xu Wei, Partner at Jihou Capital.
Roundtable Discussion: From Investment to Empowerment: Upgrading Consumption and Enhancing Urban Development
Xu Lejia, Founding Partner of Ondine Capital, pointed out that in nearly every consumer sector, consumers are increasingly seeking more value for money, while consumer brands are becoming more meticulous in their approaches. These brands are leveraging technologies, including AI, to optimize processes such as advertising and product design, ultimately achieving better returns on investment. He also highlighted the structural growth opportunities within Chinese cities, offering his investment insights and emphasizing that Chongqing, with its unique geography and urban landscape, presents significant potential in the low-altitude economy.
Xu Lejia, Founding Partner of Ondine Capital
Jiang Ying, Senior Vice President and China Partner at FirsTrust Group, commented that, in both the primary and secondary markets, capital markets have increasingly focused on companies’ ability to generate cash flow and sustain growth over the past two years. Consequently, investments in companies that continue to report losses have become more cautious. Moreover, in traditional consumer sectors, companies empowered by new technologies like AI and Big Data, which can improve performance and efficiency, are more likely to achieve higher valuations. These companies also present greater potential for future growth and market expansion.
Jiang Ying, Senior Vice President and China Partner at FirsTrust Group
Xue Yuning, General Manager of Certain Capital Corporation, believes that from a macro perspective, the shift in consumer trends lies in the fact that each generation develops its own unique consumption identity. Currently, the consumer industry revolves around two main themes: first, all so-called “red ocean projects” are worth revisiting, and second, all overseas opportunities should be re-examined. In an era of technological innovation, tech-driven empowerment, and new consumption models, any “red ocean project” is worth exploring, as there is always the potential for unexpected success to emerge.
Xue Yuning, General Manager of Certain Capital Corporation
Xu Wei, Partner at Jihou Capital, pointed out that the current consumer trend is one of segmentation rather than simple upgrading or downgrading. In this context, capturing opportunities within specific vertical user groups - particularly new consumers - can provide significant growth potential. Furthermore, Xu Wei emphasized that over the past decade, China has developed the world’s most efficient, robust, and cost-effective supply chain and manufacturing capabilities. When combined with overseas demand, these capabilities will present enormous opportunities. Whether it involves overseas financing or international listings, the process is expected to unfold smoothly.
Xu Wei, Partner at Jihou Capital
The following session was a sharing of international consumer practice case studies driven by central business districts (CBDs). First to take the stage was Zhao Wenyu, Director of the Industry Promotion Division II at the Beijing CBD Management Committee. He introduced the development of Beijing’s CBD and business districts, noting that in the next phase, the focus will be on enhancing “consumer capacity” and “consumer vitality.” The efforts will concentrate on boosting international influence, improving environmental quality, and increasing consumption vitality. The goal is to continue fostering a more open and inclusive investment environment, a more dynamic innovation ecosystem, a more efficient and convenient administrative environment, and a more welcoming and livable urban space.
Zhao Wenyu, Director of the Industry Promotion Division II at the Beijing CBD Management Committee
Next, Mi Jia, Secretary of the CPC Working Committee and Director of the Management Committee of the Chongqing Jiefangbei CBD, presented recent developments in the Jiefangbei CBD. She highlighted four key aspects: “more distinctive urban development,” “stronger industrial capacity,” “more refined consumption quality,” and “more impactful urban marketing.” She also emphasized the focus on the “Double Growth” initiative, which aims to attract world-renowned multinational corporations and international brands. Additionally, she outlined the “Four Enhancements” strategy, which targets improvements in spatial functionality, infrastructure quality, industrial capacity, and environmental optimization. As part of this initiative, a series of flagship projects known as the “Four Tens” will be launched to accelerate the development of the first “Double 100 billion Yuan” CBD in Western China.
Mi Jia, Secretary of the CPC Working Committee and Director of the Management Committee of the Chongqing Jiefangbei CBD
Following this, the forum showcased a video presentation titled “2024 Yuzhong District Billion-Yuan Major Investment Opportunities list.”
Video Presentation: “2024 Yuzhong District Billion-Yuan Major Investment Opportunities list”
The next highlight of the forum was the much-anticipated awarding ceremony for “The 2024 Central Business District Consumption Competitiveness Selection”. Zhang Qinglian, President of Forbes China Group, presented awards to representatives from the selected CBDs.
Award ceremony for “The 2024 Central Business District Consumption Competitiveness Selection”
After the award ceremony, Wang Yihui, General Manager of the Business Operations Department at Forbes China Group, introduced the newly opened Forbes China Chongqing Lounge. She explained that the lounge, one of the key initiatives in the collaboration between Forbes China and Chongqing, is designed to serve as a hub for fostering cooperation and communication between Chongqing and businesses across China. It will feature video interviews, a “Voice of Chongqing” column, and a series of themed events. Additionally, it will regularly host business and commercial district tours, investment and financing matchmaking sessions, and banquets, thereby creating more investment opportunities.
Wang Yihui, General Manager of the Business Operations Department at Forbes China Group, introduced the Forbes China Chongqing Lounge
A Clash of Ideas and Open Expression
Thematic Salon Held in Groups
On the afternoon of November 28, a thematic salon was held with great fanfare, attended by executives from dozens of companies, prominent investment institutions, and experts from the consumer sector. This salon took place outside the main forum.
The salon was divided into three groups based on the attendees’ areas of expertise: the Headquarters Enterprises Group, the International Consumption Group, and the City Partners Group. The discussions centered around three key themes: “Building Economy from the Perspective of New Quality Productive Forces,” “New Perspectives, New Tracks, New Consumption,” and “Internationalizing City Marketing for Central Business Districts.”
During the salon, guests from various industries, both domestic and international, along with representatives from Forbes China, officials from Yuzhong District’s relevant departments, and local business leaders, engaged in vibrant discussions and exchanges, sharing their insights and visions.
Thematic Salon: Headquarters Enterprises Group
Thematic Salon: International Consumption Group
Thematic Salon: City Partners Group
After the main forum and a series of exciting and high-profile events, this year’s Jiefangbei Forum ended. In response to the rapid, ever-evolving development of Yuzhong District and the growing demand for collaboration and exchange, the forum underwent a significant upgrade this year. It focused on critical discussions around consumer innovation, global perspectives, and forward-thinking trends, offering valuable insights into the next phase of CBD development in Chinese cities and the broader trajectory of urban evolution. With its expanding influence, the forum presented a new model for dialogue and connection between market leaders across various sectors and urban planners.
A future filled with change is driving everyone toward new horizons. In an era where opportunities and challenges are shifting rapidly, how to engage in more flexible and effective communication and cooperation and align with evolving trends will remain a central focus. Similarly, nurturing an innovative mindset continues to be a top priority.
Wealth-Building Insights and Value
“Every advance in knowledge brings us face to face with the mystery of our own being.” — Max Planck
Disclaimer: The activities mentioned above are part of a commercial collaboration. Some or all the data used for research purposes are sourced from partners and third parties. The views and conclusions presented are based on this data and should not be interpreted as investment advice or recommendations.
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