Liangjiang New Area develops services

In the first three quarters of the year, service revenue in Liangjiang New Area increased 13 percent, three percentage points higher than secondary industry, liangjiang.gov.cn reported.

Chongqing Bonded Goods Exhibition and Trading Center has its one year anniversary. [Photo/ liangjiang.gov.cn]

Liangjiang has invited top internet companies to the area, such as Tencent, Inspur and LeTV. The area also welcomed new start-ups such as epetbar.com, an online pet products and services company. Cross-border e-commerce is also very popular. Lianglu Cuntan Bonded Area has over 110 registered users.

In October, the Chongqing Bonded Goods Exhibition and Trading Center celebrated its one year anniversary and opened all its exhibitions to the public. The center has over 20,000 imported items. From January to September, bonded goods revenue totaled 400 million yuan ($63 million).

Finance revenue increased 25 percent and accounted for 12 percent of the area’s GDP. Logistics, exhibition and information revenues increased 18 percent, 20 percent and 15 percent respectively.

So far, 292 financial projects have been settled down in Liangjiang New Area, with 49 invested by foreign capital. There are 96 private equity companies, 37 business factoring companies, 34 small loan companies, six bonding companies, and eight financial leasing companies in the area.

Since 2013, when Chongqing was designated the only trial commercial factoring region in west China, the industry has played a significant role. The total registered capital for commercial factoring companies totaled 3.4 billion yuan.

Chongqing International Exhibition Center hosted 14 exhibitions, 14 concerts, and 90 conferences, including 15 international ones. Chongqing is building a convention center on the Yangtze River.