Chongqing is an economic center in the upper reaches of the Yangtze River, a busy transportation hub in Southwest China, and an important base of the modern manufacturing industry.
As one of the four major automobile manufacturing clusters in China, Chongqing is home to some 40 auto brands, including Chang'an Ford, Beijing Hyundai, Chongqing Chang'an, and homegrown motorcycle maker Lifan.
Their major products cover whole vehicles, batteries, motors, controllers, vehicle control systems, electric brakes, and steering systems. The city is also China's biggest motorcycle manufacturer and exporter.
By 2020, Chongqing is expected to manufacture more than 3 million vehicles per year, achieving a total output value of more than 540 billion yuan ($80 billion). By 2022, the city is expected to manufacture about 400,000 new energy vehicles and 1.2 million smart internet-connected vehicles.
Chongqing's electronic information sector covers integrated circuits, display panels, and computer manufacturing, with heavyweight players such as Intel, SK Hynix, AT&S Group, Tsinghua Unigroup, and BOE.
As the largest laptop manufacturing center in the world, Chongqing's laptop manufacturing industry boasts five competitive brands in Hewlett-Packard, Acer, Toshiba, ASUS, and Cisco, six contract manufacturers in Foxconn, Inventec, Quanta Computer, Pegatron, Wistron, and Compal, as well as 800 other enterprises.
In 2016, Chongqing's electronic information sector became a top pillar industry, with an output of 499.9 billion yuan, contributing to 33.8 percent of the city's industrial growth.
Chongqing focuses on the exploitation of coal, natural gas, and shale gas, as well as thermal, hydro, wind, and biomass power generation. The city will also boost nuclear power in the future and try to establish a clean, efficient, and sustainable energy mechanism.
Chongqing is the biggest natural gas base, as well as one of the most important bases of the refining chemical industry and coal-based chemical industry in China. Its production of acetylene, methanol, and acetic acid ranks first in the country.
Home to some 430 equipment manufacturing enterprises, Chongqing has incubated many clusters for instrumentation, combustion engines, machine tools, large-scaled power transmission and transformation equipment, hydroelectric equipment, and ship building.
Chongqing is blessed with abundant minerals. Reserves of alumina, magnesium, barium, and sandstone in Chongqing lead the country, and have helped the city to develop into a predominant center of aluminum and steel processing, a production base for green building materials in the upper reaches of the Yangtze River, and a national base for new material research and development.
Chongqing's financial institutions outnumber those of other cities in central and west China. More than ten foreign banks, such as HSBC, Standard Chartered Bank, and Citibank, have set up branches in Chongqing.
Chongqing is a pilot zone for cross-border e-commerce and has attracted famous platforms run by Alibaba and JD. It is also a demonstration area for service industry reform driven by cloud computing, big data technology, and offshore financial settlement.
Companies in Chongqing Pilot FTZ can enjoy guaranteed services for dutiable goods, duty-free goods, and bonded goods, which has simplified the guarantee procedures and saved financing costs.