Real Estate in Chongqing as a Pillar Industry: A Quantitative Analysis

The definition of pillar industry is stated and its indicators, including the proportion of added value in the GDP, the degree of industry correlation, the income elasticity of demand, and the growth rate of employment will be discussed. And then index weighing is determined based on the degree of importance. The result of the quantitative analysis of real estate industry in Chongqing suggests that its first three evaluating indicators live up to the index requirement of a pillar industry while its degree of industry correlation is not satisfactory. An overall evaluation indicates that the real estate industry in Chongqing meets the requirements of pillar industry.