Staff members work at a generator production workshop of Senci Mechanical & Electrical Co., Ltd. in Beibei District of Chongqing, southwest China, May 9, 2025. (Photo/Xinhua)

Chongqing - As of the end of September, Chongqing's total financial assets reached 9.5 trillion yuan (about 1.34 trillion U.S. dollars), up 8.3 percent year on year, with both deposit and loan balances growing faster than the national average.

At a press conference on October 31, Gong Rongjie, Deputy Director of the Chongqing Municipal Financial Committee Office, said the city continues to strengthen financial innovation to better serve the real economy. Focusing on key industries in modern manufacturing and technological innovation, Chongqing has been increasing capital supply to strategic sectors.

The city has introduced a series of targeted financial policies to support industrial transformation, the private economy, technological innovation, and small and micro enterprises. By the end of September, the balances of medium- and long-term loans for the manufacturing sector and inclusive loans for small and micro businesses had both doubled compared with the end of 2020. Meanwhile, banking institutions have issued over 1 trillion yuan in total credit to major joint projects in the Chengdu-Chongqing region, according to Gong.

Regarding support for technology enterprises, Hou Wei, Deputy Governor of the People’s Bank of China Chongqing Municipal Branch, said the city has integrated various financial resources, including equity investment, bonds, credit, insurance, and leasing, to improve the accessibility and convenience of financial services.

As of the end of September, loans to tech companies under the city's action plan — which aims to accelerate the growth and quality of technology-driven enterprises through policy support and resource integration — reached 864.1 billion yuan, a 22.9% year-on-year increase.

At the same time, Chongqing has promoted products such as "job stability loans," designed to stabilize employment and support job creation, improving both the coverage and satisfaction of inclusive financial services. Loans to the private economy have now surpassed one trillion yuan.

In the field of green finance, Chongqing has helped over 170 enterprises reduce carbon emissions by 3.3 million tons annually. The city's green loan balance has surpassed one trillion yuan, with an average annual growth rate of about 30% over the past five years.

To support the development of elderly care, Chongqing has guided financial institutions to innovate and launch dedicated credit products, fostering the construction of elderly care services and the growth of the silver economy.

In the consumption sector, Chongqing has guided financial institutions to increase lending to service-oriented consumption areas. With joint efforts involving financial incentives, merchant subsidies, and national policies, the city's general consumer loan balance had risen 21.3% year-over-year by the end of September, supporting a recovery in the consumer market, Hou noted.