Chongqing's city skyline is visible from the Cuntan Port area. (Photo/Chongqing Broadcasting Group)

Chongqing - Data from the Chongqing Customs District show that in the first eight months of this year, the city’s total import and export value reached 508.09 billion yuan, an 11.3% increase from the same period last year, surpassing the national average growth rate.

As an inland city, Chongqing's significantly faster foreign trade growth stems from the combined effects of the New International Land-Sea Trade Corridor (ILSTC)'s transshipment trade and its own industrial transformation and upgrades.

While Chongqing’s total trade of 508.09 billion yuan is modest compared with Guangdong’s 6.2 trillion and Jiangsu and Zhejiang’s over 3.5 trillion, the city’s 11.3% growth rate far exceeds the average of coastal provinces, where growth hovers around 4–5% amid weak global demand.

The ILSTC is a key driver of Chongqing’s foreign trade, connecting the city to ASEAN, the Middle East, and Europe through seamless land-sea routes. In the first eight months, Chongqing handled 165,900 TEUs via the corridor, a 53% year-on-year rise, with cargo value reaching 31.285 billion yuan, up 85%. This boosted bonded logistics imports and exports to 121.04 billion yuan, a 28.4% increase, accounting for 24% of the city’s total foreign trade.

Substantial volumes of goods are transshipped, processed, or distributed through Chongqing, thereby contributing to the city's import-export statistics. Estimates indicate that re-export trade via the corridor accounts for approximately 40% of Chongqing's foreign trade growth.

The corridor’s growth is boosted by the Regional Comprehensive Economic Partnership (RCEP) and the Belt and Road Initiative. Land-sea intermodal transport accounts for over 60% of Chongqing’s 23.5% import and export growth to ASEAN, helping the city expand its presence in emerging markets while reducing reliance on traditional trade routes.

Industrial transformation and upgrades serve as another major driver for Chongqing's foreign trade, primarily manifested in new energy vehicles (NEV) and electronic products. 

In NEV exports, Chongqing's automotive exports reached 27.79 billion yuan in the first eight months, with NEV exports surging 53.9% to approximately 8 billion yuan. Leading enterprises like Changan Automobile have expanded into ASEAN and European markets, with the city's comprehensive industrial chain supporting the global strategy.

In electronics exports, Chongqing's laptop shipments reached 99.41 billion yuan, maintaining its position as China's top exporter. The industrial clusters in Chongqing's Liangjiang New Area have upgraded to high-value-added products like AI hardware and servers. Private enterprises have played a pivotal role in this transformation, with their contribution to foreign trade exceeding the national average. 

Meanwhile, institutional innovations such as cross-border payment facilitation have attracted substantial foreign investment. Estimates indicate that industrial transformation accounts for approximately 35% of Chongqing's foreign trade growth.