Liangjiang Develops Emerging Industry to Promote Sustainable Growth

Jun 18, 2015, 00:00 ET from Chongqing Liangjiang New Area

CHONGQING, China, June 18, 2015 /PRNewswire/ -- As China's first national inland new district, Chongqing's Liangjiang New Area ("Liangjiang") has become a region for promoting strategic emerging industries. On June 15, Liangjiang launched a large-scale industry fund of 20 billion yuan ($3.22 billion) to support emerging industries such as robotics, shipping and green automobiles.

Chongqing, the only inland municipality in China, has set aside an emerging industry fund of 80 billion yuan.

Liangjiang is an emerging industrial district in Chongqing and is one of China's most famous investment destinations. In the last five years, Liangjiang's average annual Gross Domestic Product (GDP) growth has been 19.41 percent, making it one of the fastest growing areas in China.

It has also become one of China's largest automobile production areas. World famous automakers, such as Ford Motor Co, Hyundai Motor Co and General Motors, have entered Liangjiang. In 2014, Liangjiang's annual car production exceeded 1.8 million units, meaning that one in every 10 cars manufactured in China comes from Chongqing.

The world's largest glass substrate production company, Corning Incorporated, will also sign an investment contract with Liangjiang to construct an industrial cluster. The cluster will include the production of glass substrate, polarizer and display devices. Corning's new branch production base in Liangjiang is expected to be put into operation next year.

In the domain of high technology, Liangjiang has attracted a large number of enterprises in the cloud computing, core technology and applied technology of big data fields. Tencent, one of the top ten incomers of global digital media, has invested 3 billion yuan to build the first cloud computing data center in central or western China. This project started on June 10.

Chongqing EVAHEART Medical Apparatus and Instruments co. ltd, a joint venture of HI-LEX of Japan and Chongqing Lilong Group, has invested 130 million yuan in the EVAHEART assisted mechanical heart project in Shuitu Hi-tech Park inside Liangjiang New Area. The annual value of production is projected to reach more than 3 billion yuan when it meets production targets. The project will fill a gap in Chinese mechanical heart research and promote the growth of Medicine Valley in Liangjiang.

To promote the opening of China's inland, Liangjiang is reaching out to the world through its transportation hubs, Jiangbei International Airport, Guoyuan Harbor, Lianglu Cuntan Port and the Chongqing-Xinjiang-Europe International Railway, and by promoting the construction of a shipping center at the upper reaches of Yangtze River, which will create a three-dimensional traffic system that integrates railway, highway, shipping and air transportOver the past five years, Liangjiang has attracted international advanced production factories, and participated in the international division of labor. The number of Top 500 Global Companies at Liangjiang has increased from 54 to 129. Their combined mport and export volume exceeded 30 billion yuan, with an annual increase of more than 70 percent. Chongqing has become a key area for international investors.

SOURCE Chongqing Liangjiang New Area