Chongqing must play central role in FTZ

Chongqing, as the only municipality in inland of China and a metropolitan area along the Yangtze River, serves an important role in building China's first inland free trade zone (FTZ), a top municipal official said.

"According to the central government's strategic plan, Chongqing is the economic center of the upper reaches of the Yangtze River. It is the fundamental base of the country's infrastructure, a transportation hub and a core inland area," said Chongqing Party chief Sun Zhengcai, who is also a National People's Congress deputy.

Chongqing will continue to open up to other domestic provinces and regions as well as foreign countries, Sun added.

National strategies to develop the Silk Road Economic Belt and Yangtze River Economic Belt offer Chongqing many opportunities, such as development of information technology and transportation facilities, Sun said, adding that the gap between the inland and coastal areas is narrowing.

To smooth opening-up, Chongqing's National People's Congress deputies proposed that central government should build an inland core area in Chongqing, including the establishment of the first free trade zone.

Tang Zongwei, NPC deputy, echoed the sentiment. "Constructing a free trade zone with an international investment environment and administrative system will provide more convenience to investment and commerce," the deputy secretary of the Liangjiang New Area Party committee said.

According to Tang, Liangjiang - as a national new area - has become more attractive to foreign investment. More than 100 Fortune 500 companies, including Coca-Cola, General Electric and Fujitsu, have chosen Liangjiang as their investment and location destination.

A diversified trade pilot project has been carried out in Liangjiang's Cuntan port this month.

Bonded processing developed rapidly in Liangjiang, as did bonded logistics, offshore settlement and cross-border e-commerce.

Between 2010 and last year, Liangjiang utilized 15.75 billion yuan ($2.51 billion) in foreign capital. In 2014, Liangjiang set a new record for the amount of foreign capital utilized per annum, totaling $4.47 billion, a 40.90 percent increase.

The rail connection between Chongqing-Xinjiang-Europe has established a new bridge from inland China to Europe but Chongqing has many competitors, including neighboring Chengdu and Shannxi province, which also see transportation as the key to opening up.

China's development has moved from coastal areas to inland regions, causing a transformation of infrastructure, and each major city is seeking a new development opportunity.