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Economy of Chongqing


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Chongqing was separated from Sichuan province and made into a municipality in its own right in March 1997 in order to accelerate its development and subsequently China's relatively poorer western areas (see China Western Development strategy). An important industrial area in western China, Chongqing is also rapidly urbanising. For instance, statistics suggest that new construction added approximately 137,000 square meters (1.5 million square feet) daily of usable floor space to satisfy demands for residential, commercial and factory space. In addition, more than 1,300 people moved into the city daily, adding almost 100 million yuan (US$15 million) to the local economy.

Traditionally, due to its geographical remoteness, Chongqing and neighbouring Sichuan have been important military bases in weapons research and development. Chongqing's industries have now diversified but unlike eastern China, its export sector is small due to its inland location. Instead, factories producing local-oriented consumer goods such as processed food, autos, chemicals, textiles, machinery and electronics are common.

Chongqing is China's third largest centre for motor vehicle production and the largest for motorcycles. In 2007, it had an annual output capacity of 1 million automobiles and 8.6 million motorcycles. Leading makers of cars and motor bikes includes China's fourth biggest automaker; Changan Automotive Corp and Lifan Hongda Enterprise. The municipality is also one of the nine largest iron and steel centres in China and one of the three major aluminium producers. Important manufacturers include Chongqing Iron and Steel Company and South West Aluminium which is Asia's largest aluminum plant. Agriculture remains significant. Rice and fruits (especially oranges) are the area's main produce. Natural resources are also abundant with large deposits of coal, natural gas, and more than 40 kinds of minerals such as strontium and manganese, although the mining sector has been
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