Chongqing's High-Tech Industry Sales Revenue Rose 10.1% in First Half, and Manufacturing's Share Exceeded More Than One-Third

The momentum of new quality productive forces is building up faster, and industries are speeding up their transition toward “high-end, new-quality, and green” development. Data from the latest invoice statistics released by the Municipal Tax Bureau on August 5 show that Chongqing's economy made steady progress in the first six months of this year, with high-quality development advancing in many fields, underscoring the city's economic resilience and dynamism. In the first half of the year, revenue from high-tech industries rose 10.1% year on year, while manufacturing sales accounted for more than one-third of the total.

High-end: Manufacturing accelerates its high-end upgrade, cementing its role as economic ballast

“Manufacturing serves as a vital powerhouse for Chongqing's economic expansion,” stated Li Yinlu, head of the Economic Analysis Department of the Chongqing Municipal Tax Service. This year, the municipality has been pressing ahead with its ambition to become a major national center for advanced manufacturing, speeding up the establishment of the Strategy “33618” modern manufacturing cluster framework while steadily advancing industrial transformation.

According to invoice figures, during the January-to-June period, the manufacturing sector's sales revenue made up 32.7% of Chongqing's total enterprise sales, up 2.1 percentage points year on year, clearly acting as a economic ballast for the economy.

From the perspective of sub-sectors, the trend toward high-end industrial development has become increasingly prominent. During the first half of the year, sales in Chongqing's new-generation electronic information manufacturing and advanced materials sectors rose 9.5% and 5.1% year on year, respectively.

The intelligent manufacturing equipment industry, boosted by faster digital-real economy integration, posted 9.7% growth. Built on a strong local industrial base, new energy storage and high-end motorcycles also performed well, with increases of 24.2% and 12.7%. Meanwhile, AI-related embodied intelligence sectors, such as power semiconductors and ICs, AI and robotics, and intelligent manufacturing equipment, are gaining traction, with sales up 22.8%, 14.4%, and 9.7% year on year, respectively.

New-quality: R&D investment intensifies, driving new quality productive to accelerate growth

Fostering new quality productive forces is the key driver of high-quality development. Over the first half of this year, Chongqing has pressed ahead with its “416” science and technology innovation layout, while expediting the creation of enterprise-oriented collaborative innovation pathways that link industry, academia, and research. As a result, new industries, technologies, and business models have been scaling up at a faster pace.

According to invoice figures, during the January-to-June period, sales revenue from high-tech manufacturing in the city rose 10.1% year on year. Notable fields among frontier manufacturing sectors included lithium-ion battery production and computer assembly, which posted growth of 36% and 24.6%, respectively.

“Technological innovation is the key engine for developing new quality productive forces. More and more local firms are increasing their investment in technological, product, and business-model innovation, which is lifting the quality of the entire supply chain,” Li Yinlu said.

▲Officials from the Wanzhou District Tax Service visit enterprises to explain manufacturing-related tax and fee policies. Photo by Zhao Guoyun.

Procurement-side figures reveal the strong innovative drive of businesses. During the January-June period, R&D-related procurement spending jumped 30.3% year on year, with sales revenue from R&D technical services, research hardware, and intelligent equipment purchases growing by 27.7%, 17%, and 13.1%, respectively. Meanwhile, the core digital economy sectors maintained an upward trajectory, as software development and internet advertising services saw sales rise 16% and 10.3% year on year.

Green: Green sectors are being deeply explored to raise the “green content” of economic development.

Chongqing is fully committed to establishing a leading demonstration zone for Beautiful China, and the green orientation of its economic growth is being steadily enhanced.

According to invoice figures, during the January-June period, revenue from the energy-saving and environmental protection sector jumped 36.8% year on year. Hydropower, wind power, and solar PV recorded growth of 58.1%, 38.8%, and 80.8%, respectively.

Companies are speeding up their green upgrade, moving from buying green hardware to leveraging green technologies. Consequently, the city's environmental tech promotion and services saw a 23.4% year-on-year revenue increase.

Source: Chongqing Daily