Chongqing

Real GDP growth in Chongqing accelerated to 14.9% in 2009 from 14.3% in 2008, as the dip in the municipality's performance in early 2009 gave way to a strong recovery later in the year. The municipality is China's third largest motor vehicle producer and the largest for motorcycles, with an annual output capacity of 1 million automobiles and 8.6 million motorcycles in 2007. This was 30% of the national motorcycle production and made Chongqing the largest automobile maker in the region. Chongqing's nominal GDP in 2009 reached RMB652.8 billion ($95.5 billion), while per capita GDP was RMB22,909 ($3,301) - below the national average. However, massive government support is transforming Chongqing into the region's economic, trade, and financial centre, which will then open up the country's western interior to further development.

Chongqing aims to become a financial centre; a manufacturing base with a focus on notebooks and IT products; a free trade zone ($100 billion by 2015), leveraging its railway access to Europe; and a transport hub leveraging the Yangtze River's waterway capacity and air, rail and road connections. The incorporation of Chongqing as a province-level municipality shows the seriousness the government places on its development.

Chongqing Quick Facts
  • Area
    82,300 km2
  • Population:
    28846200
  • Gross domestic product:
    792.6 billion RMB
  • GDP growth:
    17.1%
  • Fixed Asset Investment:
    693.50 billion RMB
  • Utilized Foreign Direct Investment:
    6.3 billion US$
  • Imports:
    4.9 billion US$
  • Exports:
    7.5 billion US$

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Top 5 Chongqing Companies
    • Chongqing Department Store Co (SHA: 600729) is engaged in the operation of department stores and supermarkets, as well as the wholesale and retail of electrical appliances. It posted RMB21.21 billion in revenues and RMB527.25 million in net profits for 2010.
    • Chongqing Iron & Steel Co (SHA: 601005) is engaged in the manufacture and distribution of iron and steel products. It posted RMB16.62 billion in revenues and RMB10.01 million in net profits for 2010.
    • Chongqing Taiji Industry Group Co (SHA: 600129) is engaged in production and distribution of Chinese patent medicines and chemical drugs. It posted RMB5.99 billion in revenues and RMB161.59 million in net losses for 2010.
    • Lifan Industry Group Co (SHA: 601777) is engaged in the research, development, manufacture and distribution of motorcycles, automobiles and general gas engines. It posted RMB6.77 billion in revenues and RMB381.91 million in net profits for 2010.
    • Chongqing Brewery Co (SHA: 600132) is engaged in brewery and distribution of beer. It posted RMB2.38 billion in revenues and RMB361.91 million in net profits for 2010.

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