Chongqing Remains Top in China's Night Economy Development | Insights

Chongqing - Chongqing Municipality in Southwest China has emerged as the leader in China's night economy development, according to iiMedia Research, a world-renowned third-party data mining and analysis organization for new economic industries.

The Fourth China (Chongqing) Night Economic Development Summit Forum took place in Chongqing on June 13, bringing together experts to explore innovative approaches to boost the night economy, enhance regional growth, and promote brand development. 

The Fourth China (Chongqing) Night Economic Development Summit Forum occurred in Chongqing on June 13. (Photo/Chen Zhan)

The event featured keynote speeches, case studies, and roundtable dialogues, sparking fresh ideas for tapping into the potential of nighttime economic activities. 

Chongqing's distinctive natural landscape is unique in China 

During the forum, Zhang Yi, CEO and chief analyst of iiMedia Research, unveiled a comprehensive report on the progress of China's night economy industry in 2023.

The report provides an outlook on the market size of the country's night economy industry and delves into the evolving patterns of nighttime consumption, offering valuable insights for cities to optimize their nighttime economic strategies through data-driven comparisons.

The 2023 Chongqing Nightlife Festival opened in Jiefangbei CBD on June 13. (Photo/Chen Zhan)

"Chongqing's nighttime economy has undeniably taken the lead nationwide," commented Zhang. "In the future, Chongqing can further leverage its historical streets and architectural heritage to augment its influence."

Zhang emphasized the distinctive natural landscape of Chongqing, characterized by its mountains and rivers, which sets it apart from other cities in China. Exploiting the potential of new media platforms such as online streaming and short videos, Chongqing can attract a greater influx of tourists to experience its unique offerings.

Chongqing's favorable policies are the key factor for the city's night economy.

Urban residents are increasingly embracing nighttime consumption as their lives become more fast-paced, with the proportion of nighttime spending surpassing that of daytime in some cases. 

Zhang Wei, deputy director of the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, emphasized the significant potential for growth in night consumption. 

People participated in abundant night activities in Chongqing. (Photo/Chongqing Commission of Commerce)

She suggested that the fusion of unique brands and immersive experiences could drive the expansion of Chongqing's night economy, which is currently in high demand.

Expanding the night economy also entails broadening the scope of consumption scenarios and extending the consumption duration. Achieving this requires collaborative efforts from various departments, including commerce, culture and tourism, and urban management.

Experts pointed to the favorable policies in Chongqing as a key factor contributing to the city's thriving night economy. According to a report, Chongqing has issued 20 related policies in the past three years, ranking second in the country, just behind Beijing's 24.