Chongqing Economic Commission

In the first quarter of 2008, the industry investment in Chongqing maintained a steady growth. The city registered an industrial investment of RMB 14.18 billion, with a YOY growth of 32.6%, 0.3% higher than the growth rate of 2007. Such investment was 14.4% higher than the growth rate of the society (which dropped by 4.4% over 2007) and it accounts for 30.2% of the fixed asset investment of the society, a YOY growth of 3.2%. The industrial investment in the first half of the year is expected to reach RMB 60 billion, accounting for 46.2% of the target in 2008, a YOY increase of 13.3%. Therefore, the industrial investment target of RMB 130 billion will be accomplished

The industrial investment has the following characteristics:
   1. Investment in manufacturing industry maintained a steady development. From January to March, the investment in this industry increased by 45.7%, accounting for 70.8% of the industrial investment with a raise of 6.3% over last year. The pillar industries relating to automobile and motorcycle, equipment manufacture, material and electronic information along with the emerging industries kept a stable increase, the growth rate of which is higher than the average level of industrial investment.
   2. The non-state investment increased rapidly, showing a dominant role. In the first quarter, the industrial investment for the non-state-owned enterprises was RMB 10.53 billion, an increase of 49.8%. It was 17.2% higher than the city's growth rate, accounting for 74.3% of the total industrial investment of Chongqing, increased by 8.5% over last year. Hong Kong, Macau and Taiwan played their active roles in the non-state investment by investing RMB 5.14 billion, a YOY growth of 347.4%.
   

3. The foreign investment of industrial projects was increasing rapidly, reaching RMB 1.16 billion, with an increase of 146.6%. It accounted for 6.3% of the total funds of 2008, a YOY growth of 2.5%.
   4. More investment was made with the enterprises�� own funds and the bank loans dropped compared with the same period in last year. In the first quarter, RMB 20.76 billion funds for industrial projects were put into place with a YOY growth of 44.4%. The self-raised funds of RMB 11.71 billion were put into place with a YOY growth of 72.7%, accounting for 63.4% of the total funds of 2008, a YOY growth of 9%. The amount of bank loans significantly fell. In the first quarter, the domestic loans of RMB 3.53 billion were put into place, dropped by 21.6% over last year. It accounted for 19.1% of total funds of 2008, a YOY decrease of 17.1%.