Liangjiang New Area Attracts European Investment
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Liangjiang New Area Attracts European Investment

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Liangjiang New Area Attracts European Investment PR Newswire CHONGQING, China, Aug. 31, 2012 CHONGQING, China, Aug.

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Liangjiang New Area Attracts European Investment
PR Newswire CHONGQING, China, Aug. 31, 2012
CHONGQING, China,Aug. 31, 2012/PRNewswire/ --Chinaand coastal industries globally are rapidly developing their businesses in inlandChinawith Chongqing Liangjiang New Area, one of three national developments, becoming an investment highland for European enterprises. As of now, 13 of the world's top 500 enterprises in the area are from European countries; over 10 multinational firms - ThyssenKrupp ofGermany, Pilatus ofSwitzerlandand the Public Bank of Franceare under great development here. In September, AT&S ofAustria, European's largest printed circuit board manufacturer will build its 7th international factory withUS$600 millionin Yufu Industrial Park of Liangjiang New Area, becomingAustria's largest one-time investment intoChina. Four of the world's best logistics enterprises, Vailog of Italy, AMB of America, Goodman ofAustraliaand Yingli Group ofChinahave settled in the area with good prospects of trade withEurope. After French BRED Public Bank became a shareholder of Chongqing Liangjiang Financial Development Co., Ltd., investing in fields like finance, logistics, aviation, automotive and trade in 2011, German ThyssenKrupp's$1.1 billionautomotive steel project, Swiss Pilatus'$400 millionfixed-wing aircraft project and Swedish IKEA's$144 millionhome design project, etc., successively settled in Liangjiang New Area. In turn, Liangjiang New Area expanded cooperation withEuropeto develop as an important gateway in inlandChina. The Cuntan Bonded Port in the area has been put into operation, and the area's laptop output is estimated to top 20 million units in 2012. As laptop products toEuropesurge, the European Union will remain the biggest foreign trade partner ofChongqing, and Chongqing Liangjiang New Area will play an important role in European-oriented trade. With the opening of the Yuxinou (Chongqing-Xinjiang-Europe) Railway and cutting logistic costs, European enterprises in Liangjiang New Area have faith in the investments and logistic advantages. ThyssenKrupp's deputy general manager of automobile steel sheet project said their reasons for settling in Liangjiang New Area includeChongqing's railway transportation network, the Yangtze River waterway and land transportation; andChongqing's great impact in the region that widely affects central and eastern areas likeWuhanandShanghai, etc. Statistics show trade volume betweenChongqingandEuropesaw a year-on-year growth rate of 120% in the first six months of 2012. Total export-import volume ofChongqingstood atUS$25.04 billionin the first half, up 170% year-on-year; export volume reachedUS$18.15 billion, increasing 245%. Liangjiang New Area's export volume, a key contributor toChongqing's total, saw 510% year-on-year increase toUS$6.689 billion, January to June. The Sino-Euro trade volume is expected to account for 50% of the world's total in the followin10 ears.
West Chinaregions, represented by Liangjiang New Area, are speeding up integration into the global market. Liangjiang New Area, with great exposure and industrial transformation, is on its way to become a strategic hinterland for China's stable growth as well as a concentration area of European investment.