Liangjiang New Area Becomes Investment Hot Spot

CHONGQING, China, June 23, 2014 /PRNewswire/ -- As an inland opening-up portal, Liangjiang New Area attracts investors at home and abroad with sound infrastructures and numerous industries. A total of 127 Fortune 500 companies have been attracted to settle in Liangjiang New Area (LNA) since it was established four years ago, which account for more than half of the total investment companies in Chongqing. Contracted projects in LNA has reached 1,395, and the total investment has amounted to about 600 billion yuan ($96.06 billion).

"Liangjiang New Area will deepen reform, create a top-ranking investment environment and strive to become one of the best investment destinations in the world," said Tang Zongwei, deputy secretary of the Party working committee and deputy director of the Liangjiang administrative committee. As a State-level development and opening-up district, Liangjiang New Area focuses on the development of the emerging industry, including electronic information, high-end equipment, general aviation and the modern service industry.

Funded by the comprehensive experimental region of the nationwide modern manufacture-related service industry, many e-commerce projects and logistics projects of well-known enterprises, such as Cainiao, Vailog from Italy, Goodman Group from Australia, Prologis from America and Minsheng Logistics, have signed contracts and settled down here. Liangjiang New Area has become an important commerce and trade gathering place of Chongqing and China.

"Liangjiang New Area chooses industrial projects based on five aspects, scale, improvement, promotion, influence and dedication," said Tang Zongwei. "Liangjiang will focus on developing State-level industries of new industrialization. Emerging industries, such as cloud computing, new light sources, robots, aviation, medical apparatus and instruments, and shale gas equipment, and some industries that have never existed before are all development priorities of Liangjiang New Area in the future."

"Since the beginning of this year, Liangjiang New Area has thoroughly carried out the requirements on the functional regional development strategy issued by the Chongqing municipal Party committee and Chongqing municipal government. Meanwhile, Liangjiang New Area makes investment attraction a priority to promote the management capability of each business body. Moreover, LNA introduces some new projects and builds a large-scale industrial cluster to drive the synergetic development of the secondary and tertiary industry," said Tang Zongwei. "The next step is to strengthen the tracking and connection of projects and provide peer-to-peer service around the clock."

An industrial frame is forming rapidly at the main leading industrial cluster. It hopes its automobile industry can be worth 500 billion yuan, its electronic industry can be worth 400 billion yuan and high-end equipment industry can be worth 200 billion yuan.

From January to May 2014, total industrial output value above a designated scale was 167 billion yuan, with a year-on-year growth of 29 percent. Fixed-asset investment was 55.7 billion yuan, increasing by 23 percent. Foreign investment in actual use was $610 million, increasing by 36 percent.

SOURCE Chongqing Liangjiang New Area