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News

Liangjiang New Area approved by State Council

19 May 2010
Chongqing’s plan to develop Liangjiang (Two Rivers) New Area has been approved the State Council, according to China News Services on 17 May. The area, covering 1,200 sq km, will offer investors the same preferential treatment as Pudong in Shanghai and Binghai in Tianjin, in addition to the existing preferential policies designed to attract more investment to the municipality.

Details have yet to be released, but insiders say that the five major industries in Chongqing Liangjiang will be rail transport, electric machinery, alternative fuel autos, defence and information technology.

By 2020 the area’s GDP is expected to reach Rmb500bn, equivalent to a quarter of the city’s total. Industrial output could reach Rmb1,000bn, equivalent to the entire city’s industrial output predicted in 2010.
     
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