A smart logistics joint-venture began construction on June 18. Covering an area of 326 mu (21.7 hectares) with a total investment of US$250 million, the project is jointly developed by Singapore's Freight Links Group, Figtree Group and Chongqing Pucheng Logistics Co., Ltd. This project is one of the first under China Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, which includes one smart logistics park and three business segments. The smart logistics park can enable intelligent parking, registration, positioning and real-time transmission of traffic conditions as well as real-time monitoring of energy, traffic, environment conditions in the park. The three business segments include international multi-model transport, domestic transport and intra-city supply chain, covering its core businesses in the global market. Chongqing, China's newest municipality directly administered under the central government, was officially established on June 18, 1997. Chongqing Liangjiang New Area, the first national-level new area in China's inland, was set up on the same day 13 years later. The construction of the smart logistics project well echoed the increasing economic and trade exchanges between Chongqing and Singapore as the municipality marked the 22nd anniversary and the new area celebrated its ninth birthday, according to Duan Chenggang, a senior Chongqing official who oversees the administrations of the Liangjiang New Area. The project will vigorously promote the integration of the opening-up resources in Chongqing and Liangjiang New Area, enhance the significance of the New International Land-Sea Trade Corridor, and fully integrate into the joint development of the Belt and Road Initiative and the development of the Yangtze River Economic Belt, Duan added. After nine years of exploration and practice of opening up as an inland area, Chongqing Liangjiang New Area has completed the transformation from an inland economic backwater to an opening-up hub, becoming an important destination for investment, tourism and talent inflow in the world. More than 150 Fortune 500 enterprises have established their presence in the region, while more than 3,000 investment projects worth over 1.4 trillion yuan have been inked. The strategic emerging industries in the new area have grown by more than 20 percent, digital economy by over 30 percent and foreign trade by more than 15 percent. The added value of financial industry now accounts for more than 18 percent of the local GDP, while R&D spending reaches 3.6 percent of the local GDP, posting strong high-quality development momentum. Chongqing Liangjiang New Area is building an inland opening-up, port and international logistics hub with core platforms such as Guoyuan Port, the bonded port area, Jiangbeizui international financial center and Yuelai convention and exhibition city. Focusing on Liangjiang Digital Economy Industrial Park, Lijia Smart Eco-City and Liangjiang Collaborative Innovation Zone, the New Area is developing toward a city of innovation, intelligence and future. For more information, please visit the official website: http://www.liangjiang.gov.cn Source: Chongqing Liangjiang New Area Administrative Committee