A total of 118 Fortune Global 500 companies have settled in the Chongqing Liangjiang New Area, almost double the number that were there when the area was established in 2010, according to the latest data from the management committee of the new area.
The 118 companies specialize in various areas, including automotive, electronic information, cloud computing, equipment manufacturing, aviation, medicine, finance and logistics. An official of the area said that it attracts investment from multinational companies and Fortune Global 500 companies as it serves as a gateway to inland China. It has rapidly formed a platform to offer financial services, bonded services, logistics, facilities and services for conventions and exhibitions.
The new area focuses on industrial clusters concerning electronic information, automobiles, high-end equipment, aviation, and biological medicine – which concern most of the area’s Fortune Global 500 companies.
Chongqing's GDP growth ranks second in China and the new area saw a growth of 200 percent from the previous year, driven by Fortune Global 500 companies. The new area thus plays a leading role in the economic growth of the country's inland regions.
The area's new projects concern Thyssen Krupp's automobile leaf springs, Hankook Tires, Total's Atotech technology research and development center, a project involving SK Holding, and also projects concerning Pilatus fixed wing aircraft, shale gas equipment manufacturing, and Pacific Telecom.
Chongqing lies at the convergence of the Yangtze and Jialing rivers.