Guoyuan port is a multi-modal logistic hub connecting Southwest China and rest of the world. [Photo by Lan Tian/for english.liangjiang.gov.cn]

Liangjiang New Area in Southwest China's Chongqing reported 209.76 billion yuan (approximately $ 31.0 billion) in total above-scale industrial output in the first half of 2022, with a year-on-year increase of 10.1 percent. Above-scale industrial added value registered a year-on-year growth of 9 percent and industrial investment hit 16.53 billion yuan.

Two pillar industries, the automobile industry and the electronics industry, surged by 14.9 percent and 5.1percent, respectively. The automobile industry witnessed fast growth in new energy vehicles, as 69 thousand EVs were produced, up 365.7 percent year-on-year and accounting for nearly 50 percent of the total figure in Chongqing. Strategic industries performed well with the equipment manufacturing industry increasing by 34 percent and the biomedical industry surging by 17.8 percent.

The construction of an open economy is accelerating as well. Total imports and exports grew by 17.9 percent, with processing trade, general trade, and bonded logistics increasing by 12.5 percent, 22.1 percent, and 21.7percent, respectively. Guoyuan port saw its cargo throughput up 21.2 percent and container throughput up 127.7percent.

Supporting policies, including 20 measures to stabilize the economy, the "1+N" policy system, and 30 measures on the business environment have been issued to help enterprises and optimize the business environment. A total of 6,012 enterprises set up operations in Liangjiang in the first half of 2022, which indicates growing confidence in the new area.

In terms of scientific and technological innovation, the Liangjiang Collaborative Innovation Zone accommodates 49 design and research institutes and more than 110 R&D platforms. A total of 142 companies were recognized as Chongqing's "specialized, special new" small and medium-sized enterprises, bringing the new area's total number 261.