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CBZs: Chongqing's key platform for opening-up, industrial clusters

Updated: 2021-07-23

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CBZs: Chongqing's key platform for opening-up, industrial clusters

A laptop research center in the Lianglu Cuntan Comprehensive Bonded Zone in Liangjiang New Area, Southwest China's Chongqing. [Photo/Lianglu Cuntan Comprehensive Bonded Zone]

The State Council recently officially approved the establishment of the Yongchuan Comprehensive Bonded Zone (CBZ), making Chongqing municipality home to six comprehensive bonded zones in total, including the Lianglu Cuntan Comprehensive Bonded Zone, which is located in Liangjiang New Area, China's first inland national-level new area.

11 years have passed since the Xiyong Comprehensive Bonded Zone – Chongqing's first bonded zone – was founded in February 2010. The zone has played a leading role in forming industrial clusters. The world's largest laptop manufacturing base has been deployed in the zone, and has an annual output of 40 million laptops. Integrated circuits and intelligent manufacturing are also important business in the zone.

The zone has joined forces with Chongqing's railways and ports to launch machine testing and maintenance services, which has in turn pushed forward imports of complete build-up vehicles, which were numbered at 6,053 and valued at 2.82 billion yuan ($423 million) in 2020.

In comparison, the Lianglu Cuntan Comprehensive Bonded Zone focuses on the upgrading of the laptop industry, consumption, and services, and has raised the output of laptop-related products to 60 percent of the zone's total output. The zone's expanded investments over the past three years have reached more than 3 billion yuan.

Giving full play to its geographical characteristics, the zone has developed its aviation businesses, including aircraft renting and repairing. Many automobiles and bonded products are often exhibited in the zone to boost foreign trade as well.

More importantly, the Xiyong and Lianglu Cuntan comprehensive bonded zones now are the stations of departure of China-Europe freight trains (Chongqing-Singapore-Europe) and the New Western Land-Sea Corridor. And the Fuling Coprehensive Boneded Zone is also planning its future layout in the corridor.

It is estimated that about one-fourth of Chongqing's foreign trade enterprises are based in these comprehensive bonded zones, contributing 70 percent of the municipality's total imports and exports and attracting over 40 percent of Chongqing's direct foreign investment.

All six comprehensive bonded zones in Chongqing will stick to a principle of differentiated development and explore their own distinct features to spur Chongqing's economic performance.

For example, the Fuling Comprehensive Bonded Zone will mainly drive forward four sectors – medicine, advanced equipment, food, and electronic information, and will promote emerging businesses, including cross-border e-commerce and cold-chain logistics.

The Wanzhou Comprehensive Bonded Zone, officially approved in January this year, will focus on product testing and maintenance services in the bonded zone, cultural and tourism products, and special agricultural products, which will spur the economic growth of northeastern Chongqing, eastern Sichuan, western Hubei, southern Shaanxi, eastern Guizhou, and western Hunan.

 

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