Changchun Economy

2019 Jan-31

Economy

Changchun achieved a gross domestic product (GDP) of RMB332.9 billion in 2010, representing a rise of 15.3 percent year on year. Primary industry output increased by 3.3 percent to RMB25.27 billion. Secondary industry output experienced an increase of 19.0 percent, reaching RMB171.99 billion, while the tertiary industry output increased 12.6 percent to RMB135.64 billion. The GDP per capitaof Changchun was ¥58,691 in 2012, which equates to $9338. The GDP of Changchun in 2012 was RMB445.66 billion and increased 12.0 percent compared with 2011. The primary industry grew 4.3 percent to RMB31.71 billion. Secondary industry increased by RMB229.19 billion, which is a rise of 13.1 percent year on year. Tertiary industry of Changchun in 2012 grew 11.8 percent and increased by RMB184.76 billion.

The city's leading industries are production of automobiles, agricultural product processing, biopharmaceuticals, photo electronics, construction materials, and the energy industry. Changchun is the largest automobile manufacturing, research and development center in China, producing 9 percent of the country's automobiles in 2009. Changchun is home to China's biggest vehicle producer FAW (First Automotive Works) Group, which manufactured the first Chinese truck and car in 1956. The automaker's factories and associated housing and services occupies a substantial portion of the city's southwest end. Specific brands produced in Changchun includes the Red Flag luxury brand, as well as joint ventures with Audi, Volkswagen, and Toyota. In 2012, FAW sold 2.65 million units of auto. The sales revenue of FAW amounted to RMB 408.46 billion, reprensenting a rise of 10.8% on year. As cradle of the auto industry, one of Changchun's better known nicknames is "China's Detroit".

Manufacturing of transportation facilities and machinery is also among Changchun's main industries. 50 percent of China's passenger trains, and 10 percent of tractors are produced in Changchun. Changchun Railway Vehicles, one of the main branches of China CNR Corporation, has a joint venture established with Bombardier Transportation to build Movia metro cars for the Guangzhou Metro and Shanghai Metro, and the Tianjin Metro.

Foreign direct investment in the city was US$3.68 billion in 2012, up 19.6% year on year. In 2004 Coca-Cola set up a bottling plant in the city's ETDZ with an investment of US$20 million.

Changchun hosts the yearly Changchun International Automobile Fair, Changchun Film Festival, Changchun Agricultural Fair, Education Exhibition and the Sculpture Exhibition.

CRRC manufactures most of its bullet train carriages at its factory in Changchun. In November 2016, CRCC Changchun unveiled the first bullet train carriages in the world with sleeper berths, thus extending their use for overnight passages across China. They would be capable of running in ultra low temperature environments. Nicknamed Panda, the new bullet trains are capable of running at 250 kmph, operate at -40 degrees Celsius, have Wi-Fi hubs and contain sleeper berths that fold into seats during the day.