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Chongqing's Stable Economic Recovery Continued in the First Three Quarters

By VIVIAN YANICHONGQING|Oct 25,2021

Chongqing- In the first three quarters of 2021, Chongqing achieved a regional GDP of 1995.189 billion yuan (about 312.19 billion U.S. dollars), a year-on-year increase of 9.9% and an average increase of 6.2% in two years, according to the information released by the Chongqing Bureau of Statistics and the National Bureau of Statistics Chongqing Investigation Team on October 20.

A press conference was held on October 20 relating to the economic operation in Chongqing during the first three quarters. (iChongqing/ Vivian Yan)

Since this year, the quality and efficiency of economic operation in Chongqing have been steadily improved, where its resilience of economic development continues to show, said the spokesperson of the Chongqing Bureau of Statistic.

In terms of industries, the primary industry achieved an added value of 133.242 billion yuan in the first three quarters, a year-on-year increase of 8.3%, an average increase of 6.1% in two years.

The secondary industry achieved an added value of 788.834 billion yuan, a year-on-year increase of 9.7%, an average increase of 6.8% in two years.

The tertiary industry achieved an added value of 1,073.113 billion yuan, an increase of 10.3% year-on-year, and an average increase of 5.7% over the two years.

The increasing year-on-year rate of Chongqing’s regional GDP in different industries of the first three quarters. (iChongqing/ Vivian Yan)

“At the same time, we must also realize that due to the global COVID-19 epidemic, commodity market prices are soaring, and there are external instability and uncertain factors, which results in an unevenly recovering domestic economy,” said the spokesperson. “Therefore, efforts are needed to consolidate, stabilize, and resume development.”

In the future, Chongqing will continue to focus on the goals and tasks of the whole year, ensuring the 14th Five-Year Plan has a good start.

Year-on-year increase of 27% on foreign trade

According to information from Chongqing Customs, in the first three quarters of 2021, the total value of Chongqing’s foreign trade imports and exports was 577.03 billion yuan, a year-on-year increase of 27%.

The total value of imports and exports in the first three quarters has approached 90% of last year’s total value.

Specifically, in the first three quarters, the foreign trade exports of Chongqing were 365.62 billion yuan, an increase of 27.7%, while imports were 211.41 billion yuan, an increase of 25.7%.

According to the relevant person in charge of Chongqing Customs, there are five main characteristics. First, the import and export of special supervision areas maintained steady growth. Second, Chongqing achieved double-digit foreign trade growth to the ASEAN, the EU, and the United States, increasing by 13.6%, 24.2%, and 18%, respectively.

The year-on-year Increasing Rate of Chongqing’s Foreign Trade to Overseas Regions in the First Three Quarters. (iChongqing/ Vivian Yan)

Third, the private enterprises and state-owned enterprises of Chongqing have strengthened their leading role in foreign trade. Fourth, electronic information products have a significant role in supporting exports. Fifth, the import value of consumer goods ranks first in the central and western regions.

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