Population: 30.16 million
GPD: 1.755 trillion RMB (Year 2016)
GDP growth: 10.7% (Year 2016)
- The biggest city in terms of population (30 million population) in China
- The most important transport hub and logistics centre of southwest China - 4 big ports, dozens of domestic and international airlines, a number of large scale logistics industrial parks
- Also the most important manufacturing center in the upper Yangtze River - 1/3 of on-sale laptops in the world and 1/8 of cars made in China are produced here.
- Electrical engineering
- Mechanical engineering
- Liangjiang New Area
CBBC Member Companies with local offices:
- Standard Chartered Bank Ltd,
- Virgin Atlantic Airways,
- Mott MacDonald,
- Savills plc,
- AGS Four Winds
Key Business Locations in the city
Liangjiang New Area, modelled after Shanghai’s Pudong New Area, was set up in June of 2010. Since then it has grown at a very rapid pace.
By 2020, 60% of Chongqing's industrial land and 40% of its commercial land will be located inside Liangjiang New Area, which will also account for half of Chongqing’s population. It is linked to 16 major cities via the Yangtze River.
In first 8 months of 2014, Liangjiang New Area attracted a total of 194 projects and 110 Fortune 500 enterprises, the GDP reached USD 19.1 billion a growth of 16.2% from 2013. The total industrial output was USD 40.5 billion with a growth rate of 34.1%, and gross fixed asset investment grew 18.1% to USD 16.9 billion. The total export-import volume increased 20% to USD 3.2 billion
In June 2015, Liangjiang New Area launched a USD 3.2 billion fund aimed at investing in robotics, shipping and green automobiles, among other emerging industries in China.
Current local government work for future development
- In June 2013, Green Card Access was extended to those working in 7 kinds of R&D: national laboratories, national key laboratories, national engineering laboratories, national engineering research centres, national-certified enterprise technology centres, national engineering & technology research centres and foreign-invested R&D centres.
- In October 2013, Chongqing Communication Administration announced that establishing a 4G network was a key part of expansion plans for all new areas of the municipality. Chongqing is aiming to build 30,000 3G and 4G bases around the central city area, to aid the main TD-LTE network which has theoretical download speeds of more than 100Mb.
- Chongqing Graphene Industrial Park was inaugurated in December 2013 in Jinfeng Electronic Information Industrial Park. RMB500 million have been invested jointly by Shanghai NanJiang (Group) Co., Ltd. and Chongqing Institute of Green and Intelligent Technology of Chinese Academy of Sciences. The Park aims to form a complete industrial chain, with application-oriented enterprises, scientific institutions and industry-university-research cooperation.
- There are some preferential tax rates for foreign-invested businesses in Chongqing. The technology transfer income of foreign-funded enterprise and foreigner to domestic is exempt of business tax. Enterprise, in accordance with provisions (these can be found in Tax Documents 273 and 36, released in 1999 and 2001 respectively). Business tax can also be reduced by employing a proportion of laid off employees, while foreign funded businesses are exempt from city maintenance construction fees and the extra education fee. In the communication, power supply, post service and broadcasting sectors, corporate income tax is reduced for five years.
- By 2020, the city authorities plan to have tripled the GDP of the One-Hour Economic Circle, as well as making GDP per capita exceed USD 8,000. By 2020, there will be 22 million permanent urban residents and an urbanization rate of 80%. It is hoped that Chongqing will equal East China in all major indicators of socio-economic development.
The local government has said going forward it will be focussing investment via 4 key sectors of the economy
- Infrastructures such as expressway, high-class highway, port, water works, waste water treatment plant.
- Agricultural projects such as traditional Chinese medicine, orange, silkworm, pigs, tea.
- R & D and production of automobile & parts, motorcycle & parts, power distribution equipment, electronics, digital audio & video, 3G, large tonnage ships, natural gas chemicals, fine chemicals, new materials, clean energy, electro-mineral combined production, aluminium chain industry, steel chain industries including iron-rough steel-plate-piping-strip material and wire; derivatives of manganese, strontium and barium; IC products, software, information technology, telecom, digital medical treatment, smart instrumentation, information technology based home electric appliances and automobile electronics.
- Modern services such as banking, insurance, securities, logistics, tourism, education (excluding compulsory education).
- Chongqing International Expo Centre, China International Horticultural Exposition and many other more business centres and shopping malls are to be built
- T3a Terminal of Chongqing Jiangbei International Airport, a 3rd runway of 3,800 meters and Wushan Airport will be constructed
- Construction is ongoing on Chongqing’s subway lines. There are 4 lines in operation, of a planned 18.
- The second phase of Guoyuan Port has been completed. 12 wharfs and 4 berths are under a trial period of operation. The first phase of Xin Tian Port in Wanzhou and first phase of Longtou Port in Fuling are to be built.
- 1,000 km of expressway is to be built by 2015, achieving a total length of 3,000 km
- A crude oil pipeline from Burma to China, a refined oil pipeline from Guiyang to Chongqing, and a gas pipeline in the urban area are all to be built soon
- 3 large reservoirs and about 20 medium-sized reservoirs and water supply lines are to be constructed
- The city is aiming at creating an “Intelligent Chongqing”, and are developing an Intelligent Grid, while focusing on improvements to transportation, medical service, homes, logistics and environmental protection
- Chongqing Broadband and NGB project are in the 12th Five Year Plan, concluding in 2015
Our Local Managers top 5 reasons to do business in Chongqing
- Chongqing plays an important role in national strategy of "China Western Development" and "One belt One Road" construction. The city enjoys preferential policies at both national and regional level.
- Chongqing is one of the biggest and unique transportation hubs in western China. The city has formed a comprehensive transportation network which integrates the railway，expressway，aviation and waterway transportation.
- 57 Chongqing-based colleges and universities supply the economy development with high-quality labor force as well as solid support to industrial research and cooperation.
- The factors cost of production in Chongqing are competitive, ideal for operational cost control.
- Chongqing is upgrading its key industries such as Automobile & Motorcycle, Equipment Manufacture and ICT with latest advanced technologies, which provides UK companies good opportunities to work with local stakeholders and leverage British expertise.
- There are three airports in Chongqing: Jiangbei International Airport, Chongqing Wanzhou Wuqiao Airport and Chongqing Qianjiang Zhoubai Airport.
- The city can also be accessed by train via Chongqing North Railway Station and Chongqing Railway Station
- It is also accessible by boat via Chaotianmen Port.
- It is the only city in Western China accessible by plane, boat, road or train
- Chongqing is served by a metro system with four lines at present and another four slated for completion by 2017
Things to do in Chongqing