Regional GDP of Chengdu-Chongqing Economic Circle Reaches 7.39192 Trillion Yuan in 2021

What achievements were made in 2021 as Sichuan and Chongqing promoted the building of Chengdu-Chongqing economic circle? According to the analysis report released by the Sichuan Provincial Bureau of Statistics on March 28, in 2021, Chengdu-Chongqing economic circle saw a regional GDP of 7.39192 trillion yuan, registering a year-on-year growth rate of 8.5%, 4.5 percentage points higher than last year, showing an overall trend for sound, steady and high-quality economic development. To be specific, the Sichuan part and the Chongqing part registered 4.80602 trillion yuan and 2.5859 trillion yuan respectively, an increase of 8.5% for both regions.

In 2021, the economic aggregate of Chengdu-Chongqing economic circle represented 6.5% of the national total, and 30.8% of that of western China. Its economic growth continued to take the lead in the western region with a growth rate 1.1 percentage points higher than the regional average. Specifically, the growth rates of the Sichuan part and the Chongqing part were both higher than the average levels of Sichuan Province and Chongqing Municipality, demonstrating the stronger force of Chengdu-Chongqing economic circle in driving regional economic growth.

The analysis report shows that Chengdu-Chongqing economic circle enjoyed strong momentum for supporting the development of industries and consumption, investment and net exports (the so-called "three carriages") demonstrated a strong driving force. 

From the perspective of industry, in 2021, the value-added industrial output of Chengdu-Chongqing economic circle recorded 2.12724 trillion yuan, representing a growth rate of 10%, 0.4 percentage points higher than the national level; the industrialization rate reached 28.8%, 0.8 percentage points higher than that of the previous year; the added value of manufacturing accounted for 24.8% of the GDP, 0.7 percentage points higher than that of the previous year. In terms of service, the added value totaled 3.94655 trillion yuan, up 9.3%, a growth rate of 1.1 percentage points higher than the national level.

From the perspective of investment, Tianfu International Airport was completed and put into operation, construction of Chengdu-Chongqing Middle Line High-Speed Railway started, 13 Sichuan-Chongqing inter-provincial expressways were open to traffic and six more were under construction, and more than 112,000 5G base stations were set up.
When it comes to consumption, the two regions accelerated the building of consumption center cities and a bunch of popular business districts. In 2021, the total retail sales of consumer goods of the two regions reached 3.45536 trillion yuan, up 17.0%, a growth rate 4.5 percentage points higher than the national level.

In terms of foreign trade, the freight trains of China-Europe Railway Express (Chengdu & Chongqing) made over 4,800 trips in 2021, accounting for more than 30% of the national total; imports and exports witnessed rapid growth, reaching 1.73745 trillion yuan in total, an increase of 19.7%. Specifically, imports and exports rose by 22.8% and 15.1%, respectively.

According to the report, the two regions achieved remarkable results in collaborative innovation and deepened and broadened cooperation in a wide range of fields.
As for collaborative innovation, in 2021, the two regions jointly held the Centralized Commencement Ceremony for Major Projects of Scientific and Technological Innovation Center, announcing the start of the construction of 40 major projects with their combined investment reaching 105.45 billion yuan.

When it comes to the joint prevention and control of ecological environment, the two regions worked together on coordinated legislation for the protection of the Jialing River basin, and established 19 national demonstration districts (counties) for ecological conservation.

In terms of joint construction and sharing of public services, the two regions launched the action of ensuring convenient living covering six areas, including transportation and communication, household registration transfer, employment and social security, education and culture, health care, and housing security, and thoroughly implemented 210 "Sichuan-Chongqing inter-regional government services"; 78.5 pairs of inter-city bullet trains ran between Chengdu and Chongqing on a daily basis, and the "public transport" ticket system between stations along the Chengdu-Chongqing High-Speed Railway route was pioneered.

(Source:The People's Government of Sichuan Province)