iChongqing Title

State-Level New Area Sees Robust Industrial Growth in First Five Months

By Dai Yuan|Jul 08,2024

Chongqing - In the first five months of this year, enterprises above the designated size in Chongqing's Liangjiang New Area achieved an output value of 182.86 billion yuan (about 25.14 billion U.S. dollars), marking an 18.3% year-on-year increase. The value-added industrial output also increased by 19% year-on-year.

Liangjiang New Area sees an increase in output value in the first five months. (Graphics/Dai Yuan)

The automobile sector significantly contributed to this growth, with an output value of 88.925 billion yuan (about 12.22 billion U.S. dollars), up 39.2% year-on-year. The output value of complete vehicles surged by 44.3%.

Changan Nevo has excelled in the sector, recently marking its 100,000th new car production in just seven months since its first delivery. This makes it the fastest new energy vehicle brand to surpass 100,000 units in sales.

Nevo delivered 13,557 new cars in May alone, a 14.57% increase from April. The company will also upgrade models A07, A05, and Q05 in the third and fourth quarters, with the crossover pickup E07 expected to launch this year.

Nevo celebrates its 100,000th vehicle rolling off the production line. (Photo/Liangjiang New Area)

Seres reported May sales of 34,130 new energy vehicles (NEVs), a 298.62% year-on-year increase. In the first five months, Seres sold 156,823 NEVs, up 342.35% year-on-year due to its focus on electrification, intelligent core technologies, and a robust manufacturing system.

The Seres Cube Platform, noted for "panoramic safety, diverse power, versatile space, and smart leadership," is the industry's first and only platform compatible with supercharging, pure electric, and super hybrid modes.

The strong performance of leading enterprises has also boosted the automotive parts sector, which saw a 28.2% growth in output value in the first five months.

The welding line of Seres in Liangjiang New Area. (Photo/Seres)

The strong performance of leading enterprises in Liangjiang New Area has also boosted the automotive parts sector, which saw a 28.2% growth in output value in the first five months.

Leading the charge, BOE reported revenue of 45.888 billion yuan (about 6.31 billion U.S. dollars), a 20.84% year-on-year increase. BOE's flexible AMOLED product shipments are expected to reach 160 million units this year, up over 30% from nearly 120 million units in 2023.

BOE's success positively impacts upstream and downstream enterprises in the electronics industry chain, contributing to year-on-year growth.

BOE, leading the electronics sector, sees revenue growth in the first five months. (Graphics/Dai Yuan)

Looking ahead, the new area plans to strengthen key industries and leading enterprises by attracting investment, expediting projects, enhancing production capacity, and creating new growth points for investment and output value.

Established in 2010, Chongqing's Liangjiang New Area is China's first inland national-level new area. Covering 1,200 square kilometers, it focuses on high-end manufacturing, IT, and biotechnology, driving significant economic growth and innovation in western China.


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