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Liangjiang becomes more attractive to foreign investment
Updated: 2021-09-27
english.liangjiang.gov.cn
Liangjiang New Area in Southwest China's Chongqing municipality recently signed several investment agreements with foreign-invested enterprises.
According to the agreements, Corning Inc will build a Gorilla Glass production project in Liangjiang, the first of its kind in the Chinese mainland. In addition, Fortune Global 500 company Saint-Gobain will establish its first waterproof material headquarters in Liangjiang. It will engage in material R&D, production, sales, and pre-sale and after-sale services.
In recent years, Liangjiang has enhanced its opening-up by providing a better business environment and participating in "dual circulation", which refers to a development pattern wherein the domestic economic cycle plays a leading role while the international economic cycle extends and supplements it.
Increasing foreign investment will attract up-stream and down-stream enterprises, which will complete and strengthen Liangjiang's supply chains.
As Liangjiang's four major opening-up platforms, Guoyuan Port, the Chongqing Lianglu/Cuntan Free Trade Port Area, Jiangbeizui Central Business District, and the Chongqing International Expo Center will continue to upgrade and transform.
During the first half of this year, Liangjiang's foreign trade was valued at 135.5 billion yuan ($20.97 billion), a year-on-year increase of 55 percent, while foreign investment in actual use was valued at $1.35 billion.
From January to July, Liangjiang attracted 42 major projects with a total investment of 61.9 billion yuan. By the end of August, Liangjiang had signed 37 cooperation projects with Singapore, with a contract value of $10.75 billion.
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