Weima, a leading manufacturer of combine harvesters, has developed a wide range of agricultural machinery products serving domestic and overseas markets. (Photo/ Weima Agricultural Machinery Co., Ltd.)

Chongqing - China’s capital markets are expanding inland as the China Association for Public Companies (CAPCO) sets up a new service base in Chongqing’s Liangjiang New Area, its third nationwide and first in central and western China.

The new base, jointly launched by CAPCO and local authorities in Chongqing, will support listed companies and firms preparing to go public, offering services ranging from corporate governance and financing to mergers and acquisitions, disclosure, and investor relations.

According to the Chongqing Listed Companies Development Report (2025), the city is home to 78 A-share listed companies with a combined market value of about 1.3 trillion yuan (around 183 billion U.S. dollars). By the end of the third quarter of 2025, their total assets reached 4.02 trillion yuan, the highest among provinces and municipalities in central and western China.

Private enterprises now make up 60.3 percent of Chongqing’s listed companies, up from 50.9 percent at the end of 2020, giving the city the highest share among China’s four municipalities directly under the central government.

In the first three quarters of 2025, Chongqing-listed companies posted operating revenue of 572.13 billion yuan and net profit of 32.96 billion yuan, maintaining steady growth. In the first half of the year, overseas revenue totaled 31.39 billion yuan, with seven companies earning more than half of their income from international markets.

On the refinancing front, Chongqing’s listed companies raised 13.0 billion yuan through private placements and convertible bond issuances in the first three quarters of 2025, up 125.9 percent year on year.

Investment in innovation also accelerated. In the first half of 2025, Chongqing-listed companies spent 14.77 billion yuan on research and development, a year-on-year increase of 42.10 percent—the fastest growth rate nationwide.

Manufacturing continues to dominate Chongqing’s listed-company landscape. All 16 companies newly listed in the city over the past three years have come from the manufacturing sector. Chongqing now has 48 listed manufacturing firms, accounting for 61.5 percent of all listed companies—higher than the shares in both Beijing and Shanghai.

In several niche segments, Chongqing-based listed companies have established leading positions. Chongqing Rural Commercial Bank ranks first nationwide among rural commercial banks by asset size. Loncin Motor Co., Ltd. has been China’s top motorcycle exporter for 19 consecutive years, while Weima Agricultural Machinery Co., Ltd. has led national micro-tiller export volume for five consecutive years.