Zhang Dejiang: Liangjiang New Area Set to Become One of China's Key Inland Trade Hotspots

Jul 16, 2012, 09:53 ET from Chongqing Liangjiang New Area

CHONGQING, China, July 16, 2012 /PRNewswire-Asia/ -- Zhang Dejiang, a member of the Political Bureau of the CPC Central Committee, Chinese vice premier and secretary of the CPC Chongqing Municipal Committee, visited Liangjiang New Area on July 6 to 7, 2012. During his visit, Mr. Zhang emphasized that the area will continue to open up, becoming a key trade area that includes an airport, river and rail networks and a bonded port, while also searching for new ways to develop the open economy in inland China.

In his report on the "Fourth Chongqing Municipal Congress of the Communist Party of China" in late June, Mr. Zhang put forward that Chongqing will "develop into an open highland of inland China and form an all-directional, multi-layer and wide-ranging platform for opening up the region, which will be lead by Liangjiang New Area."

As a clear signal delivered from the speech of the Chinese vice premier, Zhang Dejiang, and Chongqing's 4th Party Congress, Chongqing will be built into an inland open highland at the national strategic level, with Liangjiang New Area serving as its "bellwether".

Chongqing Liangjiang New Area, established as the only state-level new area in inland China, following Shanghai Pudong New Area and Tianjin Binhai New Area, has attracted attention from transnational enterprises with a high growth rate of more than 20% since its establishment two years ago. It is becoming a global investment hotspot in west China.

By the end of the first half of 2012, the number of Fortune 500 enterprises settling in Liangjiang New Area has risen to 108 from the original 54, and investment projects have jumped to 131 from 63, with actual utilized foreign capital of US$5.226 billion, contracting investment exceeding RMB350 billion and RMB195 billion having been actually utilized. The area has great development potential despite of the global financial crisis.

As the demonstration zone of China's inland opening to the West, Liangjiang New Area draws close attention at home and abroad with the Chongqing-Europe international logistics channel opening. The channel, known as the "New Silk Road," strengthens the communication between the wide hinterland of China and Europe. For this, Markus Ederer, European Union's ambassador to China praised the Area's opening up as very creative.

Relying on the "Chongqing-Xinjiang-Europe International Railway", the laptop production base of Liangjiang New Area becomes the largest one of its kind in the world, with a transportation time of only 13-16 days from Chongqing to Europe.

The development of Liangjiang New Area will greatly support the globalization and economic integration of China's western regions.

Under the support of Mr. Zhang's policies, Liangjiang New Area is striving to build itself into a different reform demonstration area from Shanghai Pudong Development Zone and Tianjin Binhai New Area.

Liangjiang New Area, with an industrial capacity of RMB1.5 trillion, is attracting more and more global investors.

SOURCE Chongqing Liangjiang New Area