Chongqing — Chongqing is expanding financial support for technological innovation, advanced manufacturing and cross-border trade as the western Chinese municipality accelerates its transition toward an innovation-driven economy.
At a municipal government press conference on Thursday, the People's Bank of China Chongqing Municipal Branch said the city's financial sector maintained steady growth in the first half of 2026, with financial resources channeling into key industries, including intelligent connected new-energy vehicles, next-generation electronic information, and advanced materials.
By the end of June, Chongqing's outstanding social aggregate financing to the real economy (AFRE) reached more than 10 trillion yuan (about 1.48 trillion U.S. dollars), up 6.5 percent year-on-year. Outstanding RMB loans stood at 6.65 trillion yuan (about 984.2 billion U.S. dollars), increasing 6.4 percent year on year, 1.2 percentage points higher than the national average.
The city has made good use of various structural monetary policy tools to steadily scale up financial support for the real economy. In the first half of the year, new RMB loans to five priority areas — technology finance, green finance, inclusive finance, elderly care finance and digital finance — reached 166.5 billion yuan (about 24.6 billion U.S. dollars), accounting for more than 60 percent of total new lending.
Financing innovation-driven industries
As Chongqing builds its modern industrial system, financial institutions are increasingly focusing on emerging industries and technology-intensive enterprises.
For sectors such as intelligent connected vehicles, advanced electronics and new materials, banks have introduced specialized financing products including research and development loans, intellectual property-backed lending and cross-border supply chain financing.
The city has also strengthened financial support for private enterprises. Since the beginning of the year, Chongqing has provided 13.3 billion yuan (about 1.97 billion U.S. dollars) in central bank lending for private companies, leveraging financial institutions to extend 66.7 billion yuan (about 9.9 billion U.S. dollars) in loans to private small and medium-sized enterprises.
To address financing difficulties faced by startups and technology firms lacking traditional collateral, Chongqing has developed a “financial brain” platform that uses big data to improve credit assessment and connect companies with financial services.
The platform has collected 79.5 billion data records and is being used to develop scenarios, including precision lending, policy matching, and intelligent risk control, thereby creating a data-driven model for technology finance.
Building a more open financial ecosystem
Chongqing is also expanding financial channels to support international business.
In the first half of the year, cross-border settlements facilitated by foreign exchange reform measures exceeded 80 billion U.S. dollars, benefiting 449 enterprises. RMB cross-border settlements reached 2.56 trillion yuan (about 378.9 billion U.S. dollars), up 97.5 percent year on year, ranking third nationwide in growth rate.
The city has introduced more than 30 foreign exchange reform pilot programs, the highest number among central and western regions, and is working to make cross-border financial services more accessible for companies involved in international trade.
Meanwhile, Chongqing is exploring new financing channels through capital markets. The city recently completed its first offshore “YuLan bond” listing on the Singapore Exchange, raising 45.3 million U.S. dollars and helping the issuer reduce interest costs by 27.9 million yuan (about 4.13 million U.S. dollars).
Green finance is another priority area. By the end of June, Chongqing's green loan balance reached 1.19 trillion yuan (about 176.1 billion U.S. dollars), with key indicators ranking among the leading levels in western China.
Finance supporting AI and future industries
As artificial intelligence reshapes industries worldwide, Chongqing is using financial innovation to strengthen the connection between technology, industry and capital.
The city is integrating financial resources with industrial development priorities, including the “33618” modern manufacturing cluster system and the “416” technology innovation layout, to create a full-cycle financing ecosystem for innovative companies.
Through platforms such as the “financial brain,” Chongqing aims to shift from traditional financing models, which rely mainly on collateral, toward data-driven financial services, enabling capital to better identify and support companies with innovation potential.
“Financial support is becoming an important pillar in Chongqing’s transformation from a manufacturing hub into an innovation-driven industrial center,” the officials said.