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Chongqing's Six Strategical Industries Embrace Investment

By KENNY DONG|Nov 20,2023

Chongqing - As a key manufacturing city in western China, Chongqing plays a crucial role in industrial transfer. Government data indicates that from 2020 to 2022, Chongqing undertook 4,670 industrial investment projects, attracting 642.5 billion yuan (USD 89.53 billion).

Changan Auto's product line. (Photo/Kenny Dong)

Due to its role as the "world's factory" within the global supply chain, China's economic surge has seen the eastern coastal regions outpace the western inland in development. The industrial upgradation in the east has spurred the transfer of certain industries to the west, thus promoting development in China's inland areas.

In Chongqing, the government encourages investments in six areas: electronics, automotive, pharmaceuticals, advanced materials, equipment manufacturing, and food industries.

Key industrial developments include the new-generation electronic information manufacturing industry, which exceeded 500 billion yuan in value for the first three quarters of this year. Chongqing has also become a significant manufacturing base for international brands like HP, gathering nearly 800 large-scale manufacturing enterprises. 

The intelligent connected new energy vehicle industry reached a value of 381.6 billion yuan in the first ten months, with a 14% increase in new energy vehicle production.

Southwest Aluminum's workshop. (Photo/Southwest Aluminum)

The advanced materials industry achieved a production value of 475.48 billion yuan in the first three quarters, with Chongqing's high-precision aluminum alloy materials being widely used in national key projects like the "Shenzhou" spacecraft series and China's first self-designed and self-manufactured large aircraft, C919.

The intelligent equipment and manufacturing industry completed a production value of 665.71 billion yuan, accounting for 34.6% of the city's total industrial output, significantly contributing to Chongqing's industrial growth.

In the biopharmaceutical and medical equipment industry, Chongqing is rapidly developing the "1+5+N" pharmaceutical industry system, with the Chongqing International Bio-City emerging as a vital platform for the city's biopharmaceutical industry and five district areas as the backbone to accelerate industrial agglomeration and develop industrial bases.

The food and agricultural product processing industry also showed robust growth, with a 4.3% increase in production value in the first three quarters compared to last year.

Chongqing Zhifei Biological's product line. (Photo/Zhifei Biological)

From November 20 to 21, 2023, Chongqing is hosting the 2023 China Industrial Transfer & Development Matchmaking Activities (Chongqing), attracting over 800 businesses for information exchange.


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