The Chongqing Liangjiang New Area and the newly founded Chongqing Free Trade Zone (FTZ) are expected to greatly benefit one another’s development.

Established on April 1, the 150-square-meter Chongqing FTZ embraces some 86.33 square kilometers of the Liangjiang New Area. With the foundation of the FTZ, the Liangjiang New Area will be forged into an international logistic hub, servicing railway, river and air transportation.

Founded in 2010, the national level Liangjiang New Area will similarly boost the development of the FTZ through the currently under-construction China-Singapore Demonstration Initiative on Strategic Connectivity. The initiative is the third of its kind in China, promoting trade cooperation with Singapore and opening-up Chongqing’s economic opportunities.

To expedite the construction of the FTZ, the Liangjiang New Area will give first priority to exchanges with Singapore in finance, logistics, information and communications technology and aviation, according to He Yousheng, deputy director of the Chongqing Liangjiang New Area Administrative Committee.

Edited by Zachery Dye