Chongqing Targets over 6% GDP Growth in 2023

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The central Chinese mega-city of Chongqing has set its GDP growth target high for 2023, following a lacklustre performance in 2022 amidst the resumption of Covid-related lockdowns.

The Chongqing municipal government announced on 13 January that it had set a regional GDP growth target of over 6% for 2023.

Its municipal government work report has also set the goal of achieving a regional GDP of 4 trillion yuan by 2027, alongside per capita GDP of 120,000 yuan.

Figures from Chongqing’s municipal government indicate that regional GDP increased from 2.01 trillion yuan to over 2.9 trillion yuan during the five year period from 2017 to 2022, for average annual growth of around 5.3%.

Regional per capita GDP increased from 64,176 yuan to around 90,000 yuan during this period, higher than China’s national average.