Liangjiang's market vitality on rise, fueling economic growth

Liangjiang New Area reported the establishment of 14,122 new business entities in 2024, ranking first among districts in Chongqing municipality. The total number of business entities surpassed 90,000, up 9.62 percent from a year earlier.

Liangjiang New Area reports the establishment of 14,122 new business entities in 2024. [Photo by Yang Qifan/provided to english.liangjiang.gov.cn]

This rapid increase reflects Liangjiang's market vitality and the continuous optimization of its business environment.

Liangjiang has released a series of measures to support business entities. For instance, in 2024, it released eight measures to support the private economy, following a number of supportive policies released in 2023. This series of measures, focusing on factor supply, market environment, and innovation capabilities, covered various areas, including helping alleviate companies of difficulties, reformation and innovation, and services for business entities.

French-based Mersen engages in electrical specialties and advanced materials for high-tech industries. Its graphite production plant in Liangjiang New Area has delivered 61,200 metric tons of isostatic graphite to global clients, with an output value of 4.46 billion yuan ($615.67 million) in recent years.

This result would not have been possible without robust industry development and support from the local government, said Li Xianjun, general manager of Mersen Chongqing and the Graphite Specialities Business Unit of Mersen Group in China.

Li said the steady progress of the project was ensured through problem-solving meetings, policy interpretation, and one-on-one communication offered by the local government. He expressed Mersen's confidence in investing in Chongqing, saying the company will maintain close cooperation with Liangjiang and continue investing there.

In 2024, Liangjiang's auto industry reported an output of 248.3 billion yuan, up 40.4 percent, serving as a major driver of economic development. Key players made milestones in sales - Changan Auto sold 2.68 million units, a seven-year high, while SERES made 426,885 sales, an annual increase of 182 percent.

AITO M9, a best-seller priced above 500,000 yuan in the first 11 months of 2024, is perceived as a benchmark of domestic luxury vehicles. 

Last February, the SERES super factory started operating in Liangjiang, synchronized with the first deliveries of M9 models. The M9 model was made in the super factory and the creation of SERES flagship models was strongly supported by Liangjiang, according to Liu Ling, CHO of SERES, who described Liangjiang as a "promised land for the high-quality development of the auto industry."

Luo Lin, member of the Standing Committee of the CPC Chongqing Municipal Committee and secretary of the Liangjiang New Area Party Work Committee, said Liangjiang will step up efforts to implement preferential policies and alleviate difficulties for enterprises, steadily enhance, smooth, and expand industrial chains, and continue to develop a top-tier business environment that is market-oriented, law-based, and internationalized.