Liangjiang service trade growth hits 40%

The Liangjiang New Area Digital Economy Industrial Park [Photo/liangjiang.gov.cn]

The 2021 China International Fair for Trade in Services kicked off in Beijing on Sept 2. As one of the first batch of national service trade innovative development pilot zones, Liangjiang New Area in Southwest China's Chongqing municipality is deepening reforms in the modern service trade business.

The new area has been included in three rounds of service trade pilot zone selection, and its experience in the sector has been studied and promoted nationwide since 2016.

Statistics show that during the past eight months of this year, Liangjiang has registered $1.87 billion in service trade, a year-on-year increase of 40 percent. Meanwhile, the number of firms converging in Liangjiang's service trade industrial park has exceeded 200.

Centering around the digital economy and Belt and Road Initiative, the new area has also been focusing on optimizing its service trade structure, which has to a large extent strengthened the global competency of its financing, industrial design, bio-medicine, and software design sectors.

In May, the intelligent preparation service base project invested by Porton Pharma Solutions Ltd started construction. The base is expected to be capable of offering one-stop services to clients and handling projects involving medicine research, production, and registration.

In order to further consolidate the foundation of service trade, Liangjiang is enhancing the opening-up capabilities of its major platforms, including the Chongqing Lianglu Cuntan Tariff Bonded Zone, Guoyuan port, the Jiangbeizui financial and technological port, and the Yuelai International Exhibition Center.