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Guo Yuan Port in Liangjiang New Area, Southwest China's Chongqing municipality[Photo/liangjiang.gov.cn]

As an intersection hub of the country's Belt and Road Initiatives and the Yangtze River Economic Belt, Liangjiang has maintained rapid growth in import and export trade with Association of Southeast Asian Nations (ASEAN), the European Union (EU) and America, according to the Liangjiang administrative committee.

Statistics from the Chongqing Administration of Customs show that the total volume of Liangjiang's foreign trade reached 67.62 billion yuan ($10.89 billion) in the first quarter of 2015, accounting for 48.10 percent of Chongqing's total foreign trade volume. The speed of Liangjiang's foreign trade growth has dampened compared to the last four years, which saw an average annual growth rate of 70 percent.

Chongqing has seized the opportunity brought by Belt and Road Initiatives. Foreign trade between Chongqing's Liangjiang and ASEAN countries, the EU and America has grown rapidly as a result. For example, the foreign trade volume between Liangjiang and ASEAN countries reached 20.06 billion yuan in the first quarter of 2015, seeing a growth of 79.30 percent.

A senior staff member from Liangjiang said that Chongqing has constructed different ports including Guoyuan Port and Cuntan Port to lay a good transportation foundation for trade between Chongqing and other countries.

With the transformation and upgrading of the manufacturing industry, Liangjiang has actively promoted the international competitaaaiveness of its pillar industries, including the automobile, electronic information and high-end equipment manufacturing industries. According to statistics released by the Liangjiang administrative committee, Liangjiang's export volume of car-parts reached 13 billion for the first quarter of 2015, seeing a growth of 120 percent.

At the same time, the foreign trade of Liangjiang's private enterprises has continued to grow steady while adjusting to the "new normal" of a slower but more sustainable growth rate. The foreign trade volume of Liangjiang's private enterprises reached 42.31 billion yuan, accounting for 62.60 percent of Liangjiang's total foreign trade volume.

Edited by Jacob Hooson