Chongqing - During the recent 2024 Chongqing Liangjiang New Area Entrepreneurs Spring Festival Gala, Corning Display Technologies (Chongqing) Co., Ltd. unveiled its groundbreaking "fusion forming process" technology in Chongqing. This signifies a major step forward in supporting local businesses and creating new regional opportunities.

Chongqing's skyline is adorned with hundreds of towering office buildings. (Photo/Chen Wensen)

Paul E. Knutson, Project Director of the Technology Business Department at Corning Display Technologies (Chongqing) Co., Ltd., emphasized the company's commitment to collaboration with the local community and customers, to establish Chongqing as a hub for technological innovation. Corning's decision reflects its longstanding investment in the region, dating back to 2015 when it first entered Western China's display industry.

Corning's continued investment in 2021, including expansion into specialty glass and consumer electronics, contributes to the rapid industrial growth of Liangjiang New Area. Knutson praised the support from the Chongqing government and community, which has been instrumental in overcoming challenges and achieving goals despite regional difficulties since 2021.

The event in Longsheng New City brought together over 100 representatives of distinguished entrepreneurs to discuss growth and opportunities in the coming year. The gathering highlighted the significant progress made by Chongqing Liangjiang New Area across various sectors.

Chongqing Liangjiang New Area has unveiled its 2024 plan, focusing on accelerating the development of a modern industrial system. This plan includes the development of three dominant industrial clusters: intelligent connected new energy vehicles, the new generation information technology industry, and the new generation Internet and software information industry, each valued at 300 billion yuan (USD 42.3 billion). Additionally, several billion-dollar specialty clusters exist in areas such as new displays, semiconductors, and cutting-edge new materials.

He Liyang, President of SERES Auto Co., Ltd, commended the local government for its efficient response to project construction and labor issues, leading to the successful launch of the SERES Liangjiang Smart Factory within a year. SERES, Huawei's car-making partner, reported a 33% year-on-year growth in 2023. Notably, since its release in December last year, the Huawei AITO M9 has received over 40,000 orders.

Similarly, Liao Guangchao, Chairman of Cloudchild Technology, acknowledged the role of the investment promotion department in integrating the company into the local industrial chain. Cloudchild Technology, supported by investment funds facilitated by Liangjiang New Area, significantly expanded its production capacity in 2023, paving the way for further investments in 2024 to strengthen the local supply chain.

In 2023, Cloudchild Technology produced 1 million pieces of Insulated Gate Bipolar Transistors, with sales exceeding 100 million yuan.

Xu Pingzhou, General Manager of Hitachi Energy Chongqing Transformer Co., Ltd., attributed the rapid establishment of their Chongqing factory last September to the excellent business environment of Liangjiang New Area. Since the new factory began operations, the company has seen a substantial increase in orders, leading to expansions in Saudi Arabia, the United Arab Emirates, South Africa, and Japan.

Liangjiang New Area achieved impressive economic growth in 2023, with a 6.5% increase in GDP, a 5.4% increase in the value-added of industrial enterprises above designated size, and a 15.8% increase in retail sales of consumer goods.