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News

Chongqing GDP up 12.5% in Q1

8 May 2013
The gross domestic product of Chongqing municipality grew 12.5 per cent year-on-year to Rmb272.6bn in the first quarter of this year, according to official data. The growth rate was 4.8 percentage points higher than the national average of 7.7 per cent.

Fixed-asset investment grew 20.9 per cent to Rmb169.5bn in the quarter.

The auto sector performed particularly strongly, with its output value rising 23 per cent to Rmb63bn. The latest auto parts company to announce it will establish a manufacturing facility in the municipality is a Rmb240m joint venture involving Pelzer Group of Germany. The company will produce interiors for Changan Ford, Changan and FAW-Volkswagen once it starts operations next year.

     
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