Chongqing Office

Asian Cities

1H 2015

 

Macroeconomy
Dubbed the “Chinese Detroit” due to its manufacturing based industry, both Chongqing’s economy and national status have witnessed rapid development since the establishment of the municipality. In 2014, Chongqing was ranked the most competitive city in western China and ninth nationally by GN Chinese City Competitiveness Valuation Indicator. Additionally, Liangjiang New Area ranked the most competitive new economic area nationally by the same institute, after Pudong, Shanghai (浦东新区) and Binhai, Tianjin (滨海新区).

In 2014, Chongqing’s GDP totalled RMB1,426.5 billion with a compound annual growth rate (CAGR) of 13.3%. As the economy flourishes, Chongqing’s industry structure has begun optimising. In 2014, tertiary industry (46.8%) surpassed secondary industry (45.8%) to become the biggest contributor to Chongqing’s economy. The finance sector grew 15.6% year-on-year (YoY) in 2014 and accounted for 8.6% of the tertiary industry, which has resulted in buoyant leasing demand.

 
 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

Two Exchange Square

+852 2842 4573

 

Subscribe to kamaco research

 

Would you like to be notified via email about new research?