Country for PR: China
Contributor: Xinhua News Agency
Thursday, April 16 2020 - 20:52
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 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:

Source: Chongqing Liangjiang New Area Administrative Committee