CHONGQING (CQNEWS) The Chongqing Administration for Development and Guidance of Small and Medium-Sized Enterprises stated on Tuesday that Chongqing’s private economy achieved an added value of 394.62 billion yuan in the first half of the year, increasing by 11.1% from the previous year and playing a more important role in industry leading and export driven opportunities.

In the first half of the year, Chongqing’s private economic industrial units amounted to 1,530,000, increasing by 55,000 compared with that at the end of last year. It mainly concentrated on five industries; wholesale and retail, leasing and business services, lodging and catering services, residential services and repair, and other services in the manufacturing industry. Wholesale and retail display the most obvious growth, accounting for 57% of the new market.

The private economy made a profit of 67.36 billion yuan and paid a national and local tax of 69.78 billion yuan. The number of employees reached 9,930,000, increasing by 316,000 compared with that at the end of the previous year.

Meanwhile, the processing trade has seen fast growth and its export have risen, when others have fallen. In the first half of the year, Chongqing’s private economy produced an export value of 162.76 billion yuan, increasing by 33.1% from a year earlier, when that of the state rose slightly by 0.9%. (Translated by Li Jiali, Fathom Language Limited)