Chongqing Maintains Double-digit Economic Growth

Home>>Business

Last updated at: (Beijing Time) Sunday, October 06, 2002

Chongqing Maintains Double-digit Economic Growth

DISCUSSION

CHINESE

SEND TO FRIEND

Chongqing, China's only municipality in its western region, reported a gross domestic product (GDP) of 121.1 billion yuan (14.6 billion US dollars) for the period of January to August 2002, up 10.2 percent from the same period last year.

Robust industrial development and rapid growth in the service industry are considered to be the major driving forces of the municipality's economic growth.

From January to August, the city's primary, secondary and tertiary industries recorded respective economic growth rates of 0.5 percent, 5.8 percent and 3.9 percent.

Industrial production

Chongqing Municipalitysaw robust industrial growth during the period from January to August 2002.

During this period, the total output value generated by the municipality's state-owned and large non-state-owned industrial enterprises was 75.8 billion yuan (9.1 billion US dollars), an increase of 16.2 percent from the same period last year.

The new products output value reached 16.3 billion yuan (2 billion US dollars) during the first eight months of this year, up16.9 percent from the same period last year.

Private enterprises and private holding enterprises are also thriving, generating a total output value of 15 billion yuan (1.8 billion US dollars) during the first eight months, up 20 percent from the same period last year. This growth rate is 4.8 percentagepoints higher than that of state-owned enterprises.

During the same period, 97.5 percent of industrial products were sold out, which marks a 0.3 percent increase from the same period last year.

Slowdown in foreign trade, investment

The Municipality in southwest China experienced a slowdown in foreign trade and a decline in foreign investment during the first eight months of theyear.

During the period, foreign trade volume totaled 1.07 billion USdollars, while import volume dropped to 441.7 million US dollars and export volume dropped to 630.9 million US dollars, compared tothe same period last year, down 11.4, 13.7 and 9.7 percent, respectively.

The city disbursed a total of 226.1 million US dollars of foreign investment during the time, a drop of 5.6 percent from thesame period last year.

Foreign investors poured 161.2 million US dollars of direct investment into the city, a drop of 0.7 percent year-on-year.

Increases in revenue, spending

Southwest China's Chongqing Municipality registered steady growth in revenue during the first eight months this year.

The city's budgetary fiscal revenue reached 9.669 billion yuan (1.2 billion US dollars) during the period, an increase of 31 percent from the same period last year, while budgetary fiscal spending totaled 17.055 billion yuan (2.1 billion US dollars), up 42 percent year-on-year for the period.

By the end of August, the city's deposit balance jumped to 258.9 billion yuan (31.2 billion US dollars), up 12.9 percent from thebeginning of this year, while its outstanding loans totaled 207.4 billion yuan (25.0 billion US dollars), up 7.3 percent.

Personal consumer loans reached 16.7 billion yuan (2 billion USdollars) by the end of August, marking an increase of 22 percent from the beginning of the year, exceeding the growth rate of the city's outstanding loans.

Growth in fixed asset investment

China's fourth municipality, registered a 25.1 percent increase in fixed asset investment year-on-year for the period from January to August of 2002, recording a total of 48.8 billion yuan (5.9 billion US dollars).

The city's investment structure was streamlined during this period. Investment in primary, secondary and tertiary industries all experienced increases.

Investment in primary industries totaled 1.1 billion yuan (133 million US dollars), while a total of 6.2 billion yuan (747 million US dollars) was invested in secondary industries, and 30.5billion yuan (3.7 billion US dollars) poured into tertiary industry, marking year-on-year increases of 78.6, 28.8 and 29 percent, respectively.

The sales volume and sales of the city's housing also soared during the period.

A total of 3.2 million sq m of commercial apartment space was sold, registering sales exceeding 4.9 billion yuan (590 million USdollars), marking increases of 26.3 percent and 27.3 percent, respectively, from the same period last year.

Questions?Comments? Click here

Chongqing to Shape New High-tech Industrial Base

Jiang Urges Army to Prepare for Military, Anti-Terror Struggles ( 64 Messages)

Two Chinese Students Shot Dead When Robbing a Malaysian Bank ( 6 Messages)

China Becomes Biggest Market for English Learning ( 40 Messages)

China Continues to Absorb Foreign Investment ( 46 Messages)

US Urged to Stop Activities in Chinese EEZ ( 32 Messages)

'Taiwan Independence': Greatest Threat to Taiwan Straits Peace ( 70 Messages)