Liangjiang signs contracts worth 7b yuan at trade fair

Contracts worth 6.89 billion yuan ($971.49 million) were secured by Liangjiang New Area at the 6th Western China International Fair for Investment and Trade (WCIFIT) that concluded on May 26.

A total of 13 contracts were signed in various fields, including automotive, new material, life science, manufacturing services, and new energy and storage.

The 2024 WCIFIT takes place in the Yuelai International Exhibition and Conference City in Liangjiang New Area. [Photo provided by Yuelai Investment Group]

The annual WCIFIT serves as an important platform for regional cooperation and foreign economic and trade exchanges in China. 

Over the past three years, Liangjiang has signed 30 contracts with a total investment exceeding 49.5 billion yuan. They covered intelligent new energy vehicles, electronic information, biomedical, advanced equipment, and other sectors.

Magna, a top automotive supplier, signed with Liangjiang at the 2021 WCIFIT to invest 230 million yuan and set up an R&D center. The center is under operation and provides seating systems for global car makers, high-speed trains, and child seat makers.

The Ganfeng New Lithium Battery Technology Industrial Park accommodates a solid battery research institute, a solid battery manufacturing base, and a battery pack production line. The industrial park has delivered over 1,000 sets of solid batteries, and its total battery installed capacity is expected to reach 6 GWh-7 GWh this year.

Liangjiang New Area is the third national-level opening-up and development area in China, following Shanghai Pudong and Tianjin Binhai New Area. It takes up less than 1.5 percent of Chongqing's land and contributes about 15 percent of its GDP and 20 percent of its above-scale industrial output.

The auto industry and the electronic information industry of Liangjiang stand at 200 billion yuan and emerging industries such as advanced equipment, aerospace, and new materials are registering fast growth.

Next, the new area will center on key industrial chains such as intelligent new energy vehicles and the next generation of electronic information, with the aim of carrying out extensive cooperation, according to an official from the Liangjiang Investment Invitation Group.

The new area will keep optimizing the business environment for enterprises to grow, and establish a serving system that covers negotiations, contract signing, manufacturing and support enterprises.