Chongqing - Chinese Premier Li Qiang said in the government work report delivered on March 5 that two key priorities for managing the economy under new conditions are to fully tap the economy’s growth potential and to closely integrate investment in physical assets with investment in people.

Several private companies — including Seres Group, Hithium Energy Storage, Bosai Group and Millison Technology — had already signaled stronger commitment to Chongqing, saying at a February 28 meeting on high-quality development of the private economy that they plan to step up investment in the city in 2026.

The investment directions of these companies show a focus on technology and intelligence, which are highlighted in the municipal government's development blueprint for the next five years.

Millison Technology, which focuses on precision manufacturing, said it will expand in Chongqing through new projects tied to advanced components. "In 2026, we will add 3 billion yuan (about 437 million U.S. dollars) in investment in Chongqing," said Yu Yajun, chairman and general manager of Chongqing Millison Technology. 

Yu said an intelligent and connected precision industry integration project in Chongqing Dajiang Sci-Tech City will move toward construction, and that new projects producing semiconductor precision parts and high-end aluminum alloy parts are expected to begin operations in the first half of the year.

Millison's U.S. plant, Millison Casting Technology LLC, officially launched operations on December 10, 2025, in Sallisaw, Oklahoma, USA. (Photo/Millison Technology)

Yu added that Millison will continue to develop business in new energy vehicles, 5.5G/6G communications, semiconductors, and artificial intelligence, while expanding cooperation with universities and research institutes.

Seres Group said it will focus on high-end smart electric vehicles while raising local procurement in Chongqing in 2026. Yin Xianzhi, vice president of Seres Group, said the company will increase the local supporting supply rate and purchase volume and accelerate cluster development of core parts for high-end models. Yin said Seres will deepen cross-sector cooperation with ecosystem partners, including Huawei, expand charging infrastructure, and push overseas market development.

Yin also said the company is planning in "embodied intelligence" and "RoboX" mobile intelligent agent businesses- terms in China often used for AI-enabled robots and other intelligent machines.

Bosai Group, described at the meeting as a leading company in Chongqing's advanced materials sector, announced an investment plan exceeding 10 billion yuan. "We plan total investment of more than 10 billion yuan to advance construction of five major projects," said Yuan Lingnan, general manager of Chongqing Bosai Mining (Group).

Yuan said projects expected to come online in phases include a 5.6-million-ton-per-year alumina technical upgrade and expansion project in Wanzhou District, a Phase II capacity expansion project in Fuling, and a red mud comprehensive utilization project in Wanzhou. He added that a 600,000-ton electrolytic aluminum project in Indonesia is scheduled to begin construction this year.

Hithium Energy Storage said it will expand its Chongqing base and target a higher output value. "We will raise the capacity plan of the Chongqing base from 50 GWh by 50% and aim for a 2026 output value of 15 billion yuan," said Wang Peng, chairman of Chongqing Hithium Energy Storage Technology. Wang said the company will focus on next-generation large-capacity battery research, smart manufacturing upgrades, and new applications such as "energy storage plus microgrids" and "energy storage plus data centers."

The Chongqing Science and Technology Equipment Industry Chamber of Commerce said 119 member firms expect combined new investment to exceed 1.54 billion yuan this year, focusing on areas including the low-altitude economy, optoelectronic detection and intelligent manufacturing.