Vital Statistics (2006)
GDP:  RMB348.6 billion RMB
GDP per Capita:  RMB12,437 RMB
Economic Growth Rate:  12.2%
Population:  13.11 million (urban) – 14.87 million (rural)
FDI:  Vital Statistics (2006)
GDP:  348.6 billion RMB
GDP per Capita:  12,437 RMB
Economic Growth Rate:  12.2%
Population:  13.11 million (urban) – 14.87 million (rural)
FDI:  US$696 million
Annual Average Wage:  RMB14,357 RMB
Government Effectiveness Rating:  67th
2006 Chinese Cities Comprehensive Competitive Rating:  26th 
 
Economic Overview
Chongqing; the "mountain city" has become one of Western China's hottest economic juggernauts, perhaps matching the heat of its most famous dish; Chongqing Hotpot. With massive injections of state cash and incentives geared towards attracting Foreign Direct Investment into China's vast interior under the nation's strategic "Go West" economic policy, the city is all at once a whirlwind of construction, redevelopment and a frenzy of manufacturing activity.  The newest of the four municipalities directly under administration of the Central Government, Chongqing has also gained fame from the construction of the massive Three Gorges Dam Project in nearby Yi Chang.

In 2006, the gross domestic product (GDP) of Chongqing Municipality reached 348.6 billion RMB, up 12.2% over the previous year, with the total GDP per capita reaching 12,437 RMB, up 11.9% over the previous year. These figures are for the enormous Chongqing municipality, which stretches over an area the size of Austria; however, to gain some idea of the intensity of development in the Chongqing metropolis, just reflect that fully 78% of Chongqing's GDP comes from the "one-hour economic circle" – a region centered on Chongqing city, and spanning a single hour's driving time. Chongqing plans to triple economic output from this area by 2020.

The municipality's total investment in fixed assets reached 245.18 billion RMB, up 24.9%, while investment in construction and reconstruction projects was 182.22 billion RMB, 26.1% higher than the previous year. Chongqing's GDP has experienced a sustained period of rapid growth, with an average annual growth rate of about 10% over the past decade.

The giant among Chongqing's strategic industries is the automotive and motorcycle manufacturing sector, which saw a mind-boggling increase in industrial output of 123.4 billion RMB in the single year to 2006. Chemicals, metallurgy and tourism are three other major drivers of the Chongqing economy.



Economic Contribution Ratios by Sector
In 2006, the economic contribution ratio of the primary industries including agriculture, forestry, animal husbandry and the fisheries, represented 6.1% of GDP; the economic contribution ratio of the secondary industries including manufacturing and the value added sector represented 56.4%; while the economic contribution ratio of the tertiary sector represented 49.7% of Chongqing's GDP.

Foreign Trade Overview
In 2006, total import and export trade volume reached US$5.47 billion, an increase of 27.4% over the previous year, with export volume reaching US$3.35 billion, up 33.0% from the previous year and import volume amounting to US$2.12 billion, up 19.5%.

Foreign Trade and Cultural Ties
Chongqing has established economic and trade relations with more than 174 countries and regions around the world and has twinned with 12 foreign sister cities, including Seattle in the USA. Important G-7 countries including Canada, Japan, and the United Kingdom have established consular posts in the city, while other countries including Austria have set up offices for their Chambers of Commerce in Chongqing.

Chongqing has played and continues to play host to a number of important cultural, commercial, political and academic events, including the third annual meeting of the Association of Asian Parliaments for Peace—AAPP discussing the issue of the Chongqing Declaration in April 2002, the International CEO Insights Forum organized by U.S. Business Week in July 2004 and Asia Pacific Cities Summit in 2005. These events and others have and continue to further enhance the image of Chongqing as an open city ready to engage in dialogue and international trade.
 

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