Big Numbers: Chongqing’s Lithium-ion Battery Manufacturing Revenue Grows Over 40% in First Eight Months

On October 8, the latest value-added tax invoice data from the Chongqing Municipal Tax Service revealed that from January to August this year, the “33618” Modern Manufacturing Cluster System contributed 36.3% of the city’s total corporate sales revenue, up 2 percentage points year-on-year.

According to VAT invoice data, from January to August, sales revenue from lithium-ion battery manufacturing in Chongqing increased by 40.9% year-on-year, making it the most striking sub-sector in the city’s manufacturing growth. It has gained strong momentum and emerged as a key growth driver of the “33618” Modern Manufacturing Cluster System.

Drawing on Chongqing’s robust new energy vehicle industry, the city’s lithium-ion battery manufacturing sector is stepping up efforts to strengthen and complete its industrial chain. Battery cells and supporting materials are developing side by side, and the industrial support system is becoming ever more comprehensive. The release of production capacity, combined with strong market demand, has driven rapid expansion of the industry. Its products not only support local vehicle manufacturers but are also sold in large quantities to other regions of the country.

Under the impetus of the national unified market, from January to August, interprovincial sales revenue of lithium-ion battery manufacturing products from Chongqing increased by over 60% year-on-year, reaching 64.3%, continuously injecting new momentum into the steady and positive development of the city’s industrial economy.

“Manufacturing is a major engine driving Chongqing’s economic growth. According to the latest invoice data, the new-generation electronic information manufacturing industry and the materials industry are playing an evident supporting role,” said a relevant official from the Tax and Economic Analysis Division of the Chongqing Municipal Tax Service. Sales revenue from the new-generation electronic information manufacturing industry and the advanced materials industry, which reflect high-quality manufacturing development, increased by 4.8% and 4.9% year-on-year, respectively, with sales revenue from computer manufacturing rising 8.6% year-on-year.

Developing new quality productive forces is an inherent requirement and a key focus for high-quality development. In recent years, Chongqing has followed the “416” science and technology innovation layout, stepped up efforts to build a nationally influential science and technology innovation center, and pushed for deeper integration between technological and industrial innovation.

VAT invoice data shows that in the first eight months of this year, sales revenue from Chongqing’s high-tech industries rose 3.2% year-on-year. High-tech manufacturing sales revenue grew 6.5%, with power semiconductors and integrated circuits up 25% and AI and robotics up 12.4%. New quality productive forces are being cultivated at an accelerated pace, and new momentum for industrial development continues to build.

Chongqing is deepening the integration of its digital and real economies, with scientific and technological achievements being converted into productivity more quickly. VAT invoice data shows that in the first eight months of this year, sales revenue from the city’s digital product services and scientific research and technical services industries rose 8.3% and 3.9% year-on-year, respectively. Intelligent equipment and intelligent manufacturing, key indicators of deep digital-manufacturing integration, saw sales revenue grow 9.3% year-on-year.

With the national unified market taking shape, Chongqing’s manufacturing firms are becoming more active in the domestic market. In the first eight months of this year, interprovincial trade sales revenue made up 45.6% of the city’s total sales revenue. Advanced manufacturing sectors—including integrated circuit manufacturing, smart in-vehicle systems, and special-purpose equipment manufacturing—picked up pace in tapping the domestic market, with interprovincial sales revenue up 28.9%, 63.2%, and 12.6% year-on-year, respectively.

Source: Chongqing Daily