The US delegation visits Mashang Consumer Finance Co in Liangjiang New Area. [Photo/liangjiang.gov.cn]

Gregory Harris, commercial counselor at the US Embassy in China, led a delegation from the financial service industry of the United States to visit Liangjiang New Area, Southwest China's Chongqing, on May 17.

Qin Shubin, member of the Chongqing Liangjiang New Area Party Work Committee and vice-director of the Chongqing Liangjiang New Area Administrative Committee, greeted the foreign guests and hosted a symposium in honor of their visit.

During his speech at the meeting, Qin emphasized the status of Liangjiang New Area as the first national inland new area designated for development and economic opening-up.

The new area's comprehensive strength was also stressed, with the regional GDP hitting 367.5 billion yuan ($55.13 billion). Liangjiang occupies an area less than 1.5 percent of Chongqing, but it has contributed to around 15 percent of the economic and industrial output value of the municipality.

In addition, Liangjiang is also home to 50 percent of the Fortune 500 companies in Chongqing, and 60 percent of Chongqing's automobiles are produced there, he added.

On behalf of the Liangjiang government, Qin welcomed the foreign friends to make investments or start businesses in the new area, which boasts mature industries, fast-track business channels, a beneficial geographical location and preferential policies.

Officials from other departments of the Liangjiang government also introduced the delegation to the new area's development plan for its financial industry, as well as how foreign companies in the industry have prospered in the region. Members of the delegation then exchanged ideas based on the points mentioned above.

Chongqing Fumin Bank and Mashang Consumer Finance Co, as two leading financial service providers in the new area, were visited by the US delegation, and showcased their innovative capabilities in new products and financial technologies.