Chongqing - China's southwestern municipality of Chongqing reported steady momentum in industrial investment during the country's 14th Five-Year Plan period (2021–2025), according to official data.

A daytime view of Chongqing’s cityscape. (Photo/Zheng Ran)

Industrial investment in southwest China’s Chongqing grew at an average annual rate of 11% from 2021 to 2024, up 2.2 percentage points from the 2016–2020 period, according to a fixed-asset investment report released recently by the Chongqing Municipal Bureau of Statistics.

China's Five-Year Plans are national economic blueprints that set development priorities and targets. During the current plan, Chongqing has focused on expanding investment under the national "two new two major" framework, a China-specific policy referring to large-scale equipment upgrades and consumer goods trade-in programs, as well as the implementation of major national strategies and the strengthening of security capacity in key sectors. 

The initiative aims to boost investment, encourage consumption upgrades and accelerate industrial modernization, supporting higher-quality growth and stronger domestic demand.

Overall fixed-asset investment in the city grew at an average annual rate of 2.8% between 2021 and 2024, with the investment structure increasingly tilted toward the real economy. Industrial investment outpaced overall growth, driven by key sectors including automobiles, equipment manufacturing, pharmaceuticals, and energy. Investment in new energy vehicles expanded particularly fast, posting average annual growth of 71.5%.

Since China launched a nationwide equipment renewal drive in 2024, Chongqing has also seen rapid growth in spending on industrial and infrastructure equipment. Investment in technological upgrades of traditional industries rose at an average annual rate of 14.5% from 2021 to 2024.