Chongqing Municipal People's Government on Feb 8 issued 23 policies to cultivate the municipality on its way of becoming one of China's international consumption center cities.

The policies state that Chongqing will target the world's top commodities and services while combining them with the city's practical conditions and demands. Efforts will be made to introduce and nurture business heavyweights and renowned enterprises to build a high-quality international market entity clustering area.

World Fortune 500 companies, China Fortune 500 firms, and mid and high-end consumer brand corporations are encouraged to establish global or regional headquarters, research centers, accounting centers, storage and logistics centers, operational management centers, and sales and service centers.

Companies that have established branches in Chongqing for the first time and registered more than 500 million yuan ($78.6 million), 100 million yuan or 50 million yuan, respectively, in annual sales during the next year will receive various different grants.

The government will support the further development of new-generation cultural and tourist consumption such as special theaters, cultural and creative products, traditional crafts, intangible heritage, immersive entertainment, and digital cultural and tourist experiences. A number of advanced cultural and tourist units will be selected to receive financial assistance.

From 2022 to 2025, Chongqing will launch seven major programs to stimulate sports-related consumption, and will promote the construction of stadiums. Plans are that it will offer a 5 million-yuan subsidy to 50 stadiums this year.