Four “engines” boost investment growth of Chongqing in H1

Investment is the first driving force for the economic development of Chongqing.

Four “engines” help Chongqing keep a steady increase on the investment in the first half of 2012, according to Yang Qingyu, director of Chongqing Development and Reform Commission, August 3, 2012. The engines include fast growth of industrial investment, steady infrastructure construction, smooth progress of major projects and strong driving force of major areas.

Industrial investment increases by 26.9%

In the first half of this year, Chongqing boasts industrial development, with a total investment of 123.6 billion yuan, up 26.9%, higher than the growth of the social fixed asset investment. MDI, major projects of laptop, automobile and other industries become more significant.

Infrastructure construction steadily progresses

Statistics from Chongqing Development and Reform Commission show that this year, Chongqing sticks to regard the infrastructure construction as the major area of the fixed investments. The progress of the infrastructure construction promotes the growth of the social fixed asset investment. And it is very important to the promotion of the economic development and the improvement of the people’s livelihood. In the first half of this year, Chongqing invested a total of 101.4 billion yuan in infrastructure, up 33.2%. The production and supply of electricity, heat, gas and water etc. enjoyed rapid development.

Major projects go well

This year, municipal-level major projects, including the Central Park, go well. In the first half of this year, the projects completed investment of 92.5 billion yuan, accounting for 35.6% of that of the annual plan. Forty five planned newly projects have been started. Five planned projects have been completed or basically completed. Twenty three municipal major investment projects have been successfully signed.

Major areas boost economy strongly

As a national development and opening up new area, Chongqing Liangjiang New Area becomes the destination of European investment enterprises. In the first half of 2012, Liangjiang New Area completed investment of 68 billion yuan, up 45%, strongly promoted the stable increase of investment.

In the first half of this year, the investment of”1-hour economic circle” and the “Northeast Wing” increases by 23.4% and 23.6% respectively, higher than the average growth. The strong driving force of major areas promotes the investment growth a lot, according to Chongqing Development and Reform Commission.

Deng Jun