Industrial Momentum Steadily Accumulates as Quality and Efficiency Advance in Concert -- An Analysis of Chongqing's Major Economic Indicators in the First Half of 2025

In the first half of the year, under the strong leadership of the Chongqing Municipal Committee and Chongqing Municipal People's Government, Chongqing has focused on stabilizing employment, enterprises, markets, and expectations. By leveraging the certainty of high-quality development, the city has effectively responded to various uncertainties, enabling the economy to withstand pressure and achieve steady progress. During this period, Chongqing's regional GDP reached RMB1,592.958 billion, marking a 5.0% year-on-year growth - 0.7 percentage points higher than Q1 - sustaining a steady and positive trend. Across all sectors, the overarching theme has been "Industrial momentum steadily accumulates as quality and efficiency advance in concert," which is reflected in five key aspects. 

Automotive Sector Leads the Charge as Industrial Engines Roar. The automotive industry showed a broad recovery. In the first half of the year, the sector's value-added output grew by 8.4% year-on-year, contributing 1.7 percentage points to the city's GDP growth - up from 0.5 percentage points in Q1. Notably, new energy vehicle (NEV) production surged by 19.6%, accelerating 17.6 percentage points from Q1. Auto parts and components manufacturing rose by 11.5%, up 2.1 percentage points from Q1. The motorcycle industry also expanded rapidly, with value-added output climbing 27.7%, contributing 0.9 percentage points to overall growth. 

Industrial Investment Sharpens Dual Edges of Quality and Efficiency. Industrial investment drove significant momentum. In H1, key sectors - automotive, equipment, and energy - saw sustained project expansion, with industrial investment accounting for 29.7% of total fixed-asset investment, up 2.5 percentage points year-on-year. Among them, automotive industry investment increased 12.6%, equipment manufacturing investment 24.9%, and energy sector investment 23.3%. Technological upgrades remained a strong catalyst. Industrial enterprises accelerated retrofitting and modernization, with technical transformation investment growing 19.4% - 6.7 percentage points higher than overall industrial investment. Its share in industrial investment reached 33.1%, up 1.8 percentage points year-on-year. 

 Emerging Industries Ride the Waves as New Momentum Surges Forward. The industrial sector witnessed remarkable performance in emerging products during the first half of the year, as Chongqing continued to advance the high-end, intelligent, and green transformation of its manufacturing industry. Integrated circuit output reached 5.204 billion units, marking a 67.3% year-on-year increase, while liquid crystal display panel production totaled 231 million units, up 26.2%. Automobile production stood at 1.2185 million vehicles, growing 0.3%, with new energy vehicle output reaching 489,300 units, a 25.0% increase. Internet-related industries maintained strong growth momentum, bolstered by the accelerated implementation of the "Starry Sky" action plan. From January to May, the operating revenue of large-scale internet, software, and information services enterprises in Chongqing rose by 18.7% year-on-year, exceeding the national average by 4.4 percentage points and accelerating by 3.3 percentage points compared to the January-February period. Online consumption remained vibrant in the first half of the year. Retail sales of goods via internet platforms by wholesale and retail enterprises above the designated size grew by 11.6%, outpacing the overall growth rate of retail sales by 6.6 percentage points. Similarly, catering revenue generated through online channels by accommodation and catering enterprises above the designated size increased by 14.9%, surpassing the sector-wide growth rate by 12.2 percentage points. 

Networks Expand as Logistics Span Thousands of Miles. In the first half of the year, Chongqing transported 154,600 TEUs of goods via the New International Land-Sea Trade Corridor through three primary modes - rail-sea intermodal transport, international railway through traffic, and cross-border road freight services - marking a 28% year-on-year increase in volume. The total cargo value reached RMB28.332 billion, up 22% year-on-year. The city also launched several new logistics initiatives: a "railway JSQ + ocean ro-ro vessel" route linking Chongqing to Qinzhou; Chongqing's first scheduled freight train to Central Asia; two new international transit routes, including "Hanoi - Chongqing - Chicago". 

Livelihoods Flourish as Well-being Blossoms Across the City. The consumer goods industry maintained steady growth in the first half of the year, with the sector's value-added output increasing by 4.1% year-on-year - 0.4 percentage points faster than Q1 - contributing 0.6 percentage points to the growth of Chongqing's large-scale industrial enterprises. Investment in social sectors continued to expand, rising by 7.5% year-on-year during the same period, outpacing the city's overall investment growth by 4.3 percentage points. Notably, education investment surged by 22.4%, while the culture, sports, and entertainment sector grew by 6.6%. The vitality of cultural and tourism consumption remained robust, with new consumption scenarios emerging continuously following Chongqing's record-breaking drone light show "Glamorous Chongqing" that entered the Guinness World Records. From January to May, the operating revenue of large-scale sports performance services skyrocketed by 130%, while film and television production, cultural relics and intangible cultural heritage protection, and movie screening sectors grew by 95.3%, 46.5%, and 22.5% respectively. 

In the next phase, Chongqing will steadfastly adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, concentrating on fulfilling the "Two Major Positioning Goals" (serving as a strategic pivot for the western region's development and an inland comprehensive open hub) and leveraging the "Three Key Roles" (its pivotal role in the Yangtze River Economic Belt, the Belt and Road Initiative, and the Chengdu-Chongqing Economic Circle). The city will accelerate the construction of the "Six Zones and One Highland" initiative, while cultivating new quality productive forces tailored to local conditions. Further reforms and opening-up will be deepened to enhance growth momentum, unleash vitality, and improve market expectations, ensuring sustained economic recovery and upward trajectory. 

Source: Chongqing Daily