Jiefangbei Pedestrian Street

　　In 1997, the Chongqing Municipal Government and the Yuzhong District Government invested 30 million yuan to transform the Jiefangbei Cross Area (encompassing Minquan Road, Minzu Road, and Zourong Road, covering a total area of 22,400 square meters) into China's first commercial pedestrian street — Jiefangbei Central Shopping Plaza. In 2000 and 2001, the Yuzhong District successively invested an additional 16 million yuan to extend the pedestrian street to the middle section of Bayi Road and Minzu Road. The area of Jiefangbei Pedestrian Street was thereby expanded to 36,000 square meters.

　　The Jiefangbei business district has seen rapid economic development, undertaking dual functions of commerce and trade. It serves as the core area of Chongqing's CBD. As early as December 19, 2004, the Jiefangbei Commercial Center, the "hard core" of the CBD, achieved a total commercial sales volume of 20.737 billion yuan and a total retail sales of consumer goods of 10.031 billion yuan, becoming a “dual-hundred-billion” business district. It has been honored with titles such as “Cross Gold Street,” “China’s Top Ten New Landmark Business Districts,” “China’s Famous Commercial Street,” “Most Investment-Valuable CBD,” “National Characteristic Cultural Square,” and “Western China’s No. 1 Street.” It has also been designated by the China Headquarters Economy Research Center as a “China Headquarters Economy Research and Development Practice Base.”

　　Currently, there are over 3,000 enterprises and institutions in the Jiefangbei CBD area. Among the Fortune 500 companies outside mainland China, 38 have set up operations in Jiefangbei CBD, and 47 have established branches here, accounting for 56% and 48% of the city's totals, respectively.

　　The CBD area houses key financial regulatory and decision-making institutions in Chongqing, including the People's Bank of China Chongqing Operations Office, the Chongqing Banking Regulatory Bureau, the Chongqing Securities Regulatory Bureau, and the Chongqing Insurance Regulatory Bureau. It brings together over 90% of foreign banks, all municipal-level commercial banks, and all policy banks stationed in Chongqing. It is also home to three-quarters of insurance institutions, all bill (specialized) institutions, securities legal entities, branches, and management headquarters in Chongqing, as well as 50% of the city's securities business departments. All insurance company branches, regional headquarters, and China headquarters in Chongqing are located here. The district gathers Chongqing’s major non-bank financial institutions, such as trust investment companies, fund management companies, and postal savings and remittance bureaus, as well as over 50% of the city’s financial intermediary (service) institutions.

　　In July 2003, the municipal government approved the “Chongqing Central Business District Master Plan,” designating the Jiefangbei CBD, with the Jiefangbei business district at its core, as the central hub of Chongqing’s CBD. Yuzhong District has stated that, with a focus on establishing a regional and international CBD, it will develop the Jiefangbei CBD into the most influential regional commercial hub and a key business functional area in western China.