Liangjiang new area witnesses boost in exports

Chongqing Liangjiang New Area, the most attractive area for multi-national enterprises to invest in inland China, released its economy data in the first half of 2012. The area's GDP in the first half hit RMB72.513 billion, up 18.4% YOY. The total foreign trade value was US$9.133 billion, 2.6 times more than the same period of last year, which indicates that west China, represented by Liangjiang New Area, is now officially part of the global market.

In his visit to Liangjiang New Area two weeks ago, Zhang Dejiang, the Chinese vice premier and secretary of the CPC Chongqing Municipal Committee, acknowledged that the remarkable region was as important as Shanghai's Pudong New Area and Tianjin's Binhai Area, and was critical to the opening up and development and research of new methods for an open economy in inland China. China's exports in the first half of 2012 reached US$954.38 billion, up 9.2%, with the export growth rate in May and June both exceeding 10%. A group of export dark horses represented by Liangjiang New Area in west China are the new forces to promote China's export growth and overall steady economic development.

In the first half of 2012, the export growth rate of Jiangsu was 4.1%, Shanghai 2.8%, Shandong 1.6%, Guangdong 6.8% and Zhejiang 5.2%. While the foreign trade and exports in east China slumped due to the international economic downturn, west China has done well in foreign trade and exports,  which has long been regarded as its economic weaknesses. Xinjiang's export value hit US$7.225 billion, up 17.4%; Sichuan's export volume was US$8.844 billion, up 44.9% year-on-year, and Chongqing's exports realised US$18.15 billion, increasing by 2.5 times. Liangjiang New Area exported US$6.689 billion, rising by 5.1 times, becoming the new engine that is driving the export growth of Chongqing and the whole western region.