Chongqing Liangjiang New Area: seizing major opportunities for inland opening-up

CHONGQING, China, Apr. 16, 2020 /Xinhua-AsiaNet/–The Chengdu-Chongqing Economic Circle Industry Service Summit was held in Chongqing Liangjiang New Area on March 25, according to Chongqing Liangjiang New Area Administrative Committee. Topics including new business forms of digital economy were discussed by local governments, enterprises and industrial organizations through online exchanges. Following the Beijing-Tianjin-Hebei Coordinated Development Region, the Yangtze River Delta Integration, and the Guangdong-Hong Kong-Macao Greater Bay Area, Chengdu-Chongqing Economic Circle has become another important regional development strategy of China. With the national central cities Chongqing and Chengdu as the core area, China plans to develop an significant growth pole in its western region based on the Belt and Road Initiative and the Yangtze River Economic Belt.

As the first national development and opening-up new area in inland China, Chongqing Liangjiang New Area witnesses its tenth anniversary of establishment in 2020 and the Chengdu-Chongqing Economic Circle initiative is also a new opportunity for the new area. This year, it will coordinate the COVID-19 prevention and control as well as economic and social development to minimize the impact of the pandemic with a high standard of openness. Liangjiang New Area has now seen a full resumption of production in the enterprises above designated size and foreign companies. Some enterprises resisted the downward trend through industrialization and clustering development, which reduced the cost of supporting system and logistics, and maintained flexibility in industrial chain and supply chain.

Beijing Hyundai Chongqing plant, located in Liangjiang New Area, shoulders the responsibility for Beijing Hyundai’s overseas CBU (Complete Built Up) export With the support of Liangjiang New Area, the company adopted a new production and operation model, and quickly resumed production with its leading intelligent production line. It also encouraged 122 upstream and downstream supporting enterprises to resume full production. Among them, Chongqing Hankook Tire & Technology Co., Ltd, which provides tires for the automobile industry, is the most advanced in automation and technology with the highest investment among eight global factories of Hankook Tire & Technology Co., Ltd.

At present, there are eight vehicle manufacturers and hundreds of core components enterprises in Liangjiang New Area, forming a massive and complex industrial chain. The resumption of the industrial and supply chain spearheading by the major enterprises helps accelerate automobile production capacity in Liangjiang New Area. In the meantime, enormous opportunities have emerge from the the Chengdu-Chongqing Economic Circle initiative promoted by the central government. As an opening-up window to Chongqing and western China, Liangjiang New Area has seen continuous optimization in the international business environment and has become an important destination for overseas investment in western China.

From the recently released third-party evaluation of China Demonstration Base for Entrepreneurship and Innovation in 2019, Chongqing Liangjiang New Area ranked the first among all 14 regional new areas across China. Liangjiang New Area provides preferential industrial policies for settled enterprises, including tax exemption, property coordination and talent recruitment along with a number of innovative policies covering the entire process from start-up to listing. In the future, Liangjiang New Area will focus on building an open portal of inland China through optimized business environment, high-quality and efficient services so as to become a vital global investment destination.

For more information, please visit the official website: http://www.liangjiang.gov.cn.

Source: Chongqing Liangjiang New Area Administrative Committee

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