Business / Macro

Chongqing's GDP growth No 2 in China

By Li Jiabao ( Updated: 2013-01-23 16:45

Chongqing's GDP grew to 1.146 trillion yuan ($184.23 billion) in 2012, up 13.6 percent year-on-year, the second fastest growth rate in China and the fastest pace in the west of the country, the deputy head of the municipal bureau of statistics told a news conference on Jan 21.

The boom of urbanization, industrialization and agricultural modernization are the major driving forces behind the growth, Huang said. The municipal government set a target for 12 percent economic growth in 2013.

Foreign direct investment flowing to Chongqing reached $10.53 billion in 2012, the same as the previous year, while domestic investment totaled 591.46 billion yuan, up 20 percent year-on-year. The city's fixed-asset investments reached 938 billion yuan, up 22.9 percent year-on-year.

Chongqing's foreign trade surged 82.2 percent year-on-year in 2012 to $50 billion. Exports rose 94.5 percent year-on-year, while imports increased 56.1 percent. The city's export volume in 2012 was also the highest in the western part of the country.

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