Liangjiang New Area Tackles Inland Development Challenges

Jun 17, 2013, 08:31 ET from Chongqing Liangjiang New Area

CHONGQING, China, June 17, 2013 /PRNewswire/ -- Chongqing Liangjiang New Area has explored a new way of adapting to China's inland opening-up over the past three years.

Third to be approved directly by the State Council after Shanghai Pudong and Tianjin Binhai new areas, Chongqing Liangjiang is one-of-a-kind in the inland, covering 1,200 square kilometers in downtown Chongqing and serving as an important gateway for inland development.

Tang Zongwei, Liangjiang Administrative Committee Deputy Director, said that only Chicago, Ruhr, Germany and Bangalore, India have succeeded developing inland, and Liangjiang New Area is unlikely to copy them due to differences in economic backgrounds and institutions, etc. Therefore, "How to realize the inland opening-up of China?" is an important issue hovering over the area's construction.

The Chongqing Municipal Government believes the area can serve as a frontier of China's opening-up by undertaking a new wave of industrial transfer depending on larger development space, lower costs and better policies. As its transportation accelerates, logistics costs decrease and the location advantage is no longer decided by physical distance.

Chongqing Mayor Huang Qifan leads a group formed for the development and construction of Liangjiang New Area, having established five open platforms of logistics, information, trade, finance and exhibition to develop Chongqing.

Chongqing is building an international channel linking the Pacific, Atlantic and Indian oceans. The Yuxin'ou International Railway, from Chongqing to Europe, saves cargo more than 40 days in transit time.

Chongqing Jiangbei International Airport will become the fourth biggest airport nationwide when completed to handle 45 million passengers and 1.1 million tons of cargo.

Guoyuan Port, the largest of its kind on the Yangtze River, will complete Phase II construction by 2013's end. Bulk cargoes from the lower reaches of the river will be transportable to Europe via Guoyuan Port and the railroad in 2014.

Pacific Telesis Data Center was completed on March 27, 2013, to focus on the development of big data processing, the Internet of Things (IOT), mobile Internet, e-commerce, etc., aiming to realize the gross output value of over 200 billion yuan in its derivative industries.

Lianglu Cuntan Bonded Port has imported and exported 780,000 TEUs (Twenty-foot Equivalent Units) valued at US$31.9 billion since trial operations in August 2010.

At least 30 financial institutions and headquarters will settle in the Jiangbeizui Central Business District.

Chongqing International Expo Center (CQEXPO), second largest nationwide, has embraced the 16th China (Chongqing) International Investment and Global Sourcing Fair and the 15th Chongqing International Auto Industry Fair.

The total value of imports and exports in the new area reached 21.341 billion U.S. dollars in 2012, growing by 200 percent year on year.

The area has realized 4.365 billion U.S. dollars in its imports and exports from January to March 2013, up 65.9 percent over the same period last year.

The new area has so far boasted 118 Fortune 500 companies, and in 2013, firms such as GE and NEC are eying the area.

SOURCE Chongqing Liangjiang New Area