iChongqing Title

National New Area Releases Opportunity List for Global Investors

By Dai Yuan|Feb 01,2024

Chongqing - In the just-announced 2024 opportunity list, Liangjiang New Area identified three development aspects for global investors to share the opportunities, including industry growth, demand expansion, and urban renewal.

According to the list, the new area sets the 2024 regional gross domestic product growth target at 6.5 percent, followed by the fixed asset investment up 5%, the above-scale industrial added value up 8%, and the total retail sales of consumer goods up 8.5%.

As a significant growth pole, Liangjiang New Area is among the first tier in Chongqing in terms of industrial foundation, opening-up function, and innovative resources. (Photo/Yang Qifan)

The new area is set to foster three leading industries of a 300 billion level, three pillar industries of a 50 billion level, five distinctive industrial clusters of a 10 billion level each, and 11 "rising star" industrial clusters, contributing to industry growth.

The three leading industries are intelligent-connected new energy vehicles, the new generation electronic information manufacturing, and the new generation internet and software information. Three pillar industries are also prioritized: new energy and new-type storage, life health, smart equipment, and manufacturing.

The focus extends to five distinctive industries, including new displays, semiconductors, and satellite internet, while the 11 "rising star" industries include artificial intelligence and robots.

The intelligent-connected new energy vehicle industry takes center stage in the new area's economic landscape. The list shows they actively promote leading automakers to adopt technology-driven, service-oriented, and environmentally conscious approaches. 

Focused initiatives include the development of motors, electronic control systems, and key components like car-grade chips and sensing-assisted communication, with a strong emphasis on system integration, including automated driving and intelligent cockpit technologies. 

In 2023, Liangjiang manufactured 1.1 million vehicles, of which 360 thousand were new energy vehicles. (Photo/Xie Li)

The bio-medicine sector will be a priority in the life health industry, encompassing chemicals, bio-products, modern Chinese medicine, medical devices, and contract research organization services. The new area also plans to build the processing base for healthy food and leverage its strengthened digital economy to develop digital diagnoses, including medical big data, medical AI, and 5G telemedicine.

In the new display industry, the new area plans to bolster the specialized materials sector by incorporating innovative entities and teams, fostering technology research and development, and advancing the industrialization of flexible displays and silicon-based micro-displays. Simultaneously, efforts will be directed toward introducing and nurturing enterprises specializing in ultra-HD video and content while exploring application scenarios like smart homes, in-car entertainment, and telemedicine. 

The opportunity list outlines three strategies to stimulate demand: increasing investment, enhancing consumer spending, and further opening up. Urban renewal efforts will focus on construction and functional upgrades in various sections. 

As the inaugural national-level opening-up and development area in inland China, Liangjiang plays a significant role, contributing approximately 15% to Chongqing's GDP, 20% to its above-scale industrial output, and 38% of the total export-import volume. Additionally, 60% of the FG500 companies in Chongqing are located in this new area. 

(The original author is Guo Shuyu from Liangjiang New Area Media Center)


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