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Chongqing is positioned to be a modern manufacturing center in China according to remarks made by Weng Jieming, vice mayor and member of the standing committee of the Party's Chongqing Municipal Committee, at the Municipal Industry and Information Work Conference on Jan 12, Chongqing Daily reported.

Chongqing is nearer to its ambition to be the world’s most important smart terminal manufacturing center and a major automobile manufacturing center. Major companies such as Beijing Hyundai, and BOE Technology have settled in Liangjiang New Area.

Weng stressed that Chongqing will further reduce factor cost factors in financing, energy and logistics.

He also noted that the traditional economy should work with the Internet to enhance efficiency. He said that R&D input should be no less than 2.5 percent of the GDP by 2020.