By Yuling Chen, iChongqing News

Chongqing-Chongqing's regional GDP reached RMB 510.23 billion (about USD 76.12 billion) in the first quarter of 2019, increased by 6.0% year on year, according to the Chongqing Municipal Bureau of Statistics, April 19, 2019.

The secondary sector reported the strongest growth in added value by increasing 6.3% to reach RMB 203.656 billion. The tertiary sector and primary sector saw their added value grow 5.8% with RMB 283.263 and 3.9% with RMB 23.311 billion.

Friday’s data also showed the rapid growth of emerging industries and products, scale development of digital economy, good momentum in the online retailing, stable development of property market, the continuous growth of foreign trade, and resident disposable income.

Main industries growths, as well as emerging industries and new growth drivers, supported the growth of the secondary sector. Specifically, the material industry grew by 18.7%, the consumer goods industry by 15.6%, the pharmaceutical industry by 10.8%, the equipment industry by 9.8%, the electronics industry by 8.8%, the chemical industry by 7.4%, the motorcycle industry by 6.9%, and the energy industry by 2.4%.

Chongqing’s total import and export value achieved RMB 131.526 billion, with a year-on-year growth of 21.9%. Among the total value of foreign trade, the value of export was RMB 86.513 billion, an increase of 25.1%; and the value of import was RMB 45.013 billion, an increase of 16.2%. Moreover, Chongqing utilized foreign capital of USD 2.469 billion in the first three months of 2019.

The per capita disposable income of all residents in Chongqing was 8,368 yuan, a year-on-year increase of 9.3%. 

The Chongqing’s economy, in general, achieved steady growth, and main industries had a good start to 2019. The economic structure and the quality of development continued to improve. In addition, Chongqing deepened efforts to implement the supply-side structural reform.

In the latest World Economic Outlook report released on April 9, the International Monetary Fund revised up the 2019 growth projection for China to 6.3 percent, up 0.1 percentage point from its previous estimation in January.

The Chinese economy expanded 6.4 percent year on year, and China's GDP reached 21.343 trillion yuan (about 3.18 trillion U.S. dollars) in the first quarter of this year, according to a National Bureau of Statistics statement.

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