Economy

Economy

Chongqing is a comprehensive old industrial city with more than 15,000 independent accounting enterprises, including 2,634 large enterprises with 900,500 employees and total assets of 271.8 billion yuan. In 2004, large enterprises achieved a total profit of 11.338 billion yuan, up by 37.8%; the overall efficiency index for industrial enterprises is 141% with an increase of 16 percentage points compared with the previous year. Chongqing, with both light and heavy industries, is the national key production base of motorcycles, autos, instruments, fine chemistry, large transformers and Chinese patent medicines. It also boasts the largest aluminum processing plant of Asia, and has 382 auto and motorcycle enterprises, with motorcycle production accounting for one-third of domestic sales and half of foreign exports for all of China. Now it has become one of the nation’s top 10 export bases of electromechanical products.

With a large population, Chongqing enjoys vast rural areas with abundant agricultural resources of great potential. It has 2.1 million hectares of farmland and 13.615 million laborers. It is also the national key grain production area and pork production base. In 2004, the annual net income of rural residents was 2,510.4 yuan per capita, up by 13.3% compared with the previous year. The Engel coefficient of rural residents was 56%, down by 7.2 percentage points compared with that before 1997.

With convenient transportation for the two rivers (the Yangtze River and Jialing River), Chongqing is famous as a goods distribution base in southwest China and the most active business center in the upper reaches of the Yangtze River. Recently it has established a modern consumable market system which serves the southwest area and the whole country. In 2004, the total retail sale of social consumer goods achieved 106.15 billion yuan, up by 27.1% from the previous year.

It is now embracing a rapid development of new industrialization represented by autos and motorcycles, equipment manufacturing, and resource processing, as well as high-tech industries, with an annual industrial added value of 71.6 billion yuan. Chongqing has become one of the top 4 auto production bases in our country with an annual output of 420,000 autos. It also enjoys the No. 1 place of China in terms of the output and sales volume of motorcycles, with 4.21 million motorcycles output each year.

Chongqing is one of the 3 large production & research bases of instruments in China. The industrial automation control system accounts for about 15% of the national market share, and various types of instrument sensors account for over 20%.

Changshou Chemical Industry Park is the country's largest production base of natural gas, owning the national leading large-scale joint ventures such as Sichuan Vinylon Works and Yangtze River Acetyls Co., Ltd. The technical level of equipment produced and outputs are leading in China, and the production capacity of fine chemistry, including methanol production from natural gas, polyvinyl alcohol and vinyl acetate, accounts for 20% of the whole market share in China.

Today, Chongqing has 628 more new hi-tech enterprises and 1,074 hi-tech products, and has developed the five major industries of electronic information, biological engineering, environmental protection, mechatronics and new materials.

Editor:Liu Kan