Liangjiang New Area launched the construction of Chongqing International Free Trade Harbor City on March 31, which is expected to be a competitive exhibition and trade center of import commodities in inland China.

Situated at the Cuntan Free Trade Port Area (CCFTA), the project covers an area of 318 mu (212,000 square meters) and has a total investment of 10 billion yuan ($1.6 billion) from the CCFTA and Greenland Group, according to the CCFTA administrative committee.

Aimed at the development of the modern service industry, the CCFTA boasts the Yangtze River, Chongqing-Xinjiang-Europe railway and new Silk Road as regional advantages. The CCFTA also serves as a commercial platform for import and consumption, import and export, trade and manufacturing, wholesales and retail, and bonded and non-bonded trade.

Since the establishment of the CCFTA in 2008, over 400 enterprises have entered so far, including 13 Fortune 500 companies. The total output value of the CCFTA exceeded 70 billion yuan in 2013.

The CCFTA currently has a planned construction project of 1.6 million square meters inside and outside the customs supervision zones, which hopes to achieve coordinated development of both areas. Aimed at trade and exhibition, the customs supervision zone is expected to serve as a platform of commodities, information and technology for foreign investors. The projects outside the zone will include office buildings, shopping malls and other supporting facilities.

The construction of Chongqing International Free Trade Harbor City will not only enrich the local commercial industry, but also reinforce the development of the manufacturing and service industry in the CCFTA.

As the junction of the Silk Road economic belt and Yangtze River economic belt, Liangjiang New Area has made great efforts in developing trade platforms and emerging industries. With its geographical advantages, preferential policies and innovative reforms, Liangjiang New Area has contributed to fast development of the bonded trade, logistics and processing industry.