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The GDP of Liangjiang New Area Ranks Fourth Among the State-level New Areas in China

By ZHAN CHENICHONGQING|Jul 28,2022

Chongqing-At Chongqing Global (Online) Promotion Conference on July 11, Li Jie, a member of the Party Work Committee and Deputy Director of the Management Committee of Chongqing Liangjiang New Area, introduced the charm of Liangjiang New Area, an inland opening-up hub and a smart city of Chongqing.

Liangjiang New Area, approved to be established in 2010, is the first state-level new area in Chinese inland. 

Over the past 12 years, the New Area, covering 1.5% of Chongqing’s area, has contributed about 15% of the total economic output, 20% of the total value of the production from industrial enterprises above the designated size, 30% of foreign investment, 40% of import and export, 50% of Fortune Global 500 companies and 60% of automobile sales in Chongqing.

In 2021, the GDP of Liangjiang New Area exceeded 400 billion yuan, making it rank fourth among the state-level new areas in China.

Chongqing is one of China’s vital automobile industry bases, and Liangjiang New Area is the main arena for developing the industry in Chongqing. The automobile industry of Liangjiang New Area boasts the following five advantages:

First, a solid foundation. It has gathered ten vehicle enterprises and more than 200 core parts companies, including well-known Chang’an Automobile, Changan Ford, and Jinkang New Energy, placing it in the first tier of the industry in China.

In 2021, the total output value from the New Area’s automobile industry reached 203.7 billion yuan, accounting for 47.5% of Chongqing, and the output was 1.22 million vehicles, accounting for 61% of the city.

Second, a first-class innovation system of industry-university-research institute collaboration. The New Area has made great efforts to build an innovation consortium of “vehicles + parts + universities + research institutes.”

In recent years, the automobile industry in Liangjiang New Area has invested up to 6.5 billion yuan in R&D, which has given rise to a large number of leading new technologies in China, including the intelligent range extender system dubbed “Tuofeng” (lit. hump) and the three-minute battery swapping technology for heavy trucks.

Third, it is a complete ecosystem of the industry chain. As the global automobile industry is speeding up its transformation and upgrading to intelligent and new energy vehicles (NEVs), the industrial chain advantages of Liangjiang New Area are more prominent.

In the field of intelligent vehicles, the New Area has introduced global leading enterprises such as NXP Semiconductors N.V. and Faurecia Clarion Electronics to develop advanced automobile electronic products such as smart cockpit and intelligent terminal systems and attracted such companies as ZongMu Technology and TINNOVE to focus on the intelligent driving system and improve the intelligently networked ecosystem. 

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Li Jie introduced the charm and splendor of Liangjiang New Area, an inland opening-up hub and a smart city of Chongqing, at the event. (Photo provided to iChongqing)

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