Liangjiang New Area Witnesses Explosive Increase in Exports

Jul 30, 2012, 08:36 ET from Chongqing Liangjiang New Area

CHONGQING, China, July, 30, 2012 /PRNewswire-Asia/ -- Chongqing Liangjiang New Area, the most attractive area for multi-national enterprises to invest in inland China, today released its economy data in the first half of 2012. The area's GDP in the first half hit RMB72.513 billion, up 18.4% year-on-year. The total foreign trade value was US$9.133 billion, 2.6 times more than the same period of last year, which indicates that west China, represented by Liangjiang New Area, is now officially part of the global market.

In his visit to Liangjiang New Area two weeks ago, Zhang Dejiang, the Chinese vice premier and secretary of the CPC Chongqing Municipal Committee, acknowledged that the remarkable region was as important as Shanghai's Pudong New Area and Tianjin's Binhai Area, and was critical to the opening up and development and research of new methods for an open economy in inland China.

China's exports in the first half of 2012 reached US$954.38 billion, up 9.2%, with the export growth rate in May and June both exceeding 10%. A group of export dark horses represented by Liangjiang New Area in west China are the new forces to promote China's export growth and overall steady economic development.

In the first half of 2012, the export growth rate of Jiangsu was 4.1%, Shanghai 2.8%, Shandong 1.6%, Guangdong 6.8% and Zhejiang 5.2%. While the foreign trade and exports in east China slumped due to the international economic downturn, west China has done well in foreign trade and exports, which has long been regarded as its economic weaknesses. Xinjiang's export value hit US$7.225 billion, up 17.4%; Sichuan's export volume was US$8.844 billion, up 44.9% year-on-year, and Chongqing's exports realized US$18.15 billion, increasing by 2.5 times. Liangjiang New Area exported US$6.689 billion, rising by 5.1 times, becoming the new engine that is driving the export growth of Chongqing and the whole western region.

Liangjiang New Area took good advantage of a new round of optimization and reconstructing production factors, industrial relocation and changes to logistics channels at home and abroad, and greatly promoted itself before stepping into the world market, which contributed to the blast of foreign trade and export growth. The area has signed 681 contracted projects, with RMB352.1 billion investment in total, and has actually utilized RMB195 billion since its foundation. The area has also greatly boosted trade cooperation with Europe, and with the operation of the Chongqing-Xinjiang-Europe International Railway, Liangjiang New Area set to become a bridgehead for Sino-Euro trade and economic cooperation.

A total of 108 Fortune 500 companies, including global electronic information enterprises like Acer and Wistron, as well as some investment projects from ThyssenKrupp, Nemark and Pilatus Aircraft, etc., have so far settled in Liangjiang New Area, greatly stepping up the development of the local industries. Liangjiang New Area, with great investment potential, is continuing to attract more and more global investors.

SOURCE Chongqing Liangjiang New Area