Multinational Logistics Tycoons Invest in Liangjiang New Area

Oct 31, 2012, 05:15 ET from Chongqing Liangjiang New Area

CHONGQING, China, Oct. 31, 2012 /PRNewswire/ -- Italian investment company, Vailog, and Goodman Group from Australia announced on October 23 plans to invest in Chongqing Liangjiang New Area, providing yet further opportunities for international logistics development among Chongqing and countries around the world.

The two groups will invest US$200 million in the area to develop e-commerce and financial logistics industrial parks with multiple functions. "The development of inland China boasts greater demand for the logistics industry and we must take this opportunity," said Huang Wei (Wayne Huang), president of Goodman China.

Amid the downturns of the global and domestic economies and slowdowns in the import and export of China's coastal areas, inland China is becoming an important destination for global industries to transfer in. Data shows four inland cities and provinces including Chongqing, Guizhou, Sichuan and Shaanxi, along with Tianjin, boasted the top five GDP growth rates in China in the first half of 2012.

During the same time, the total volume of China's imports and exports reached US$2842.5 billion, up 6.2% compared to the same period of last year; with the mid-west region of China seeing a sharp increase in imports and exports despite the global financial crisis: Xinjiang had an export volume of US$8.86 billion, up 14.9%, and Sichuan US$27.92 billion, up 42.8%.

The total export and import value of Chongqing hit US$40.36 billion, 120% up year-on-year. Among which exports occupied US$29.3 billion, rising by 1.5 times, while imports realized US$10.99 billion, increasing by 69%.

A symbol of government reforms and China's opening-up, Chongqing Liangjiang New Area has seen strong momentum in foreign trade growth in the first three quarters of 2012, with foreign trade volume reaching US$16.85 billion dollars, up 279.3% year on year. The foreign trade volume of the first three quarters surpassed the total of the last two years, which signifies that China's expanding and stimulating the once weak market in the central and western region is taking effect, and the central and western region is becoming the new oasis of international trade.

The 1,200-square meter Liangjiang New Area, which is almost as big as Shanghai's Pudong New Area, has attracted 110 Fortune 500 enterprises within two years, becoming an emerging force in China's inland areas to expand international and domestic markets. Also, the construction of China's fourth largest hub airport and the largest inland port, and the operation of Chongqing-Xinjiang-Europe International Railway are bringing positive effects to the economic development of Liangjiang New Area.

Liangjiang New Area's electronic information industry saw a year-on-year growth of nine times in the first three quarters of 2012, while its auto industry also embraced a rapid development.

This area, with a year-on-year increase of 20.6% in its GDP, becomes a popular investment destination among global investors and the Fortune 500 enterprises.

SOURCE Chongqing Liangjiang New Area