Chongqing - On February 21, the Chongqing Conference on Deepening the High-Quality Development of the Private Economy was held at Yuzhou Hotel. Three hundred and twelve automotive, electronics, and pharmaceutical entrepreneurs attended to discuss growth strategies.
In 2024, Chongqing's private economy contributed 1.982 trillion yuan (about 273.34 billion USD), driving the city's high-quality development. The private sector accounted for 47.8% of tax revenue, 61.6% of GDP, and 90.2% of new jobs, showing robust growth.
Innovation drives this growth. In 2024, Chongqing had 8,042 active private high-tech enterprises, up 16.72% from the previous year, highlighting a strong boost in innovation.
A prime example is SERES, which partnered with Huawei to launch the AITO M9. Priced above 500,000 yuan (about 68,956 USD), the model has led the luxury car segment for nine months, with total sales reaching 151,000 units. This success has disrupted the long-standing dominance of Mercedes-Benz, BMW, and Audi.
"In terms of the private economy, I believe Chongqing is uniquely advantaged; it is absolutely the best," said Zhang Xinghai, the founder of SERES Group.
He emphasized that companies must focus on high-quality development, particularly in the manufacturing sector, and leverage the "33618" manufacturing system. By aligning with policy benefits and market opportunities, enterprises should aim to become industry leaders and contribute to Chongqing’s growth.
Looking ahead, SERES aims to expand its high-end strategy by upgrading the AITO brand and advancing Chongqing’s intelligent connected vehicle industry. The goal is to capture more of the domestic luxury market and become a world-class brand.
Chongqing is also guiding private enterprises to embrace new technologies and scale new heights, particularly in the realm of AI. The city is encouraging the private sector to explore emerging industries such as artificial intelligence, robotics, autonomous driving, low-altitude economy, and biomedicine.
Vann Song, Vice President of Sevnce Robotics Co., Ltd., described Chongqing’s private economy as undergoing a "transformation." Sevnce Robotics is a Chongqing-based company that integrates the design, research and development, production, sales, and service of specialized robots.
Explosion-Proof Quadruped Robots of Sevnce Robotics. (Photo/Sevnce Robotics)
Song pointed out that while the city was traditionally known for heavy industries, its innovation capabilities in high-end manufacturing sectors, such as robotics and new energy vehicles, are now making waves nationally.
This year, Sevnce Robotics will accelerate its expansion into both domestic and international markets, with plans to deploy robots across more regions, industries, and application scenarios, thus contributing to the orderly growth of the robotics industry, Song revealed.
(Huan Ran, as an intern, also contributed to the report)