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Emerging industries see, drive rapid development

Updated: 2015-08-06

China Daily

With rapid economic growth, spearheaded by its emerging industries, Liangjiang New Area in Chongqing is becoming an increasingly popular investor destination.

Emerging industries, such as robotics, general aviation and cloud computing, have become a driving force for the new area’s economic development, mostly through a financial network of industrial capital, financial leasing companies, industrial guidance funds and a separate strategic emerging industry development fund worth 20 billion yuan ($3.22 billion).

Mayor Huang Qifan, in an aim to speed up growth in emerging sectors, proposed that the sectors hit a 2020 target of 1 trillion yuan in industrial output. Liangjiang New Area is expected to contribute 600 billion yuan to that output goal.

One of China’s largest auto production hubs, Chongqing has made headway in developing new-energy vehicles. Lifan, a local automaker, has poured 5.2 billion yuan into the new-energy vehicle sector and founded a fund and financial leasing company to encourage its growth in the industry.

To lure more investments to Liangjiang, local authorities are offering what investors desire most. For Pilatus, a Swiss aircraft manufacturer, its decision to establish production facilities in Liangjiang was in part due to 50 orders it gained with the help of the local government.

In the robotics industry, Chongqing is aiming to accelerate development in the industry and build itself into a robot city. The Liangjiang district has prioritized the sector since 2012 and formulated plans for its development, goal and business innovation model. Construction on four new robotics projects valued at 1.26 billion yuan began in the Liangjiang New Area on June 19.

The new area is currently attracting a lot of attention from the information technology industry. A new semiconductor display production line from BOE Technology Group — a leading supplier of semiconductor display technology, products and services — went into production in the new area in April. It is reportedly the company’s most advanced line, with an investment of 32.8 billion yuan.

IT companies such as Tencent, Digital China, Neusoft and NEC from Japan have also established facilities in the new area in recent years.

The Liangjiang area is also an important zone for laptop producers in Chongqing. In the past five years, three laptop original equipment manufacturers have set up shop in the Bonded Port Area, part of Liangjiang New Area. The annual average output of laptops in the Bonded Port Area is 40 million units.

Last year, production of laptops in Chongqing accounted for one-third of the global output, with one-third of that figure coming from the Liangjiang New Area, according to the Chongqing Commerce Commission.

Tang Zongwei, deputy director of the Liangjiang New Area Administrative Committee, said the area’s backbone industries are still the traditional ones, such as auto and equipment manufacturing. However, he added that emerging industries like general aviation, robotics, cloud computing and new-energy vehicles are important players in the area’s development.

The area’s modern service industry, including transportation, logistics, finance, catering and cultural and educational activities adds to its appeal to investors, Tang added.

China’s 36 major banks and insurance companies have set up their national or regional headquarters in the new area. During the past five years, the area has inked about 2,100 projects with contract value of more than 850 billion yuan.


UK trade commissioner for China praised Chongqing as a burgeoning center in intelligent manufacturing.


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