Chongqing's Import-Export Growth Outpaces National Average in First Three Quarters Multi-Engine Drive Powers Chongqing's Robust Foreign Trade Growth

In the first three quarters of this year, Chongqing reported a total import-export value of RMB 581.98 billion, a year-on-year increase of 12.3%. Exports reached RMB 400.83 billion (up 10.6%), while imports totaled RMB 181.15 billion (up 16.2%) - all growth rates exceeding the national average. 

Against the backdrop of a global trend toward deglobalization and rising trade protectionism, which have imposed significant pressure on foreign trade, Chongqing's sustained double-digit growth is a notable achievement. So where is this growth momentum coming from? Recent interviews shed light on the drivers.

Electromechanical Products as Key Driver

Electromechanical products accounted for over 60% of total exports, with electric vehicle exports surging to RMB 9.79 billion, up 69.1% year-on-year.

On October 9, a record-breaking shipment of 1,650 Chongqing-made vehicles departed from Qinzhou Port in Guangxi bound for the Middle East. Organized by Changan Automobile, the shipment - which included buses, sedans, and other models - was valued at approximately RMB 230 million and marked the largest single-batch vehicle export in Qinzhou Port's history.

Empowered by the "Hainabaichuan" Initiative, Changan Automobile has seen its overseas sales climb steadily. Data show that from January to September, the automaker sold 465,305 vehicles abroad, an increase of 10.7% year-on-year.

Other Chongqing automakers are also accelerating their global expansion.

For instance, Seres made a notable appearance at this year's IAA Mobility in Munich with its AITO series models tailored for the Middle East. The company announced that three models have received market access certification in the UAE and will soon be launched locally, marking Seres' strategic entry into the Middle Eastern market.

As Chongqing pushes forward with its vision of building an intelligent connected new energy vehicle hub and implements the "Chongqing Vehicles Going Global" Plan, vehicles made in Chongqing - especially new energy vehicles - are becoming a vital growth engine for the municipality's foreign trade. According to Chongqing Customs statistics, in the first three quarters, the municipality's automotive exports reached RMB 33.73 billion, an increase of 6.4%, of which electric vehicle exports amounted to RMB 9.79 billion, surging by 69.1%.

According to an official from the Chongqing Municipal Commission of Commerce, electromechanical products - including automobiles - form the backbone of the municipality's foreign trade exports. While laptop computers used to dominate Chongqing's electromechanical export profile, the municipality has steadily optimized its export structure in recent years, leading to a more diversified range of such products.

Despite a contraction in global laptop orders, Chongqing - as the world's largest laptop manufacturing base - has maintained stable export performance at a high level. In the first three quarters of the year, laptop exports reached RMB 113.28 billion, ranking first nationwide.

Exports of mobile phones and motorcycles also continued to grow steadily, reaching RMB 43.73 billion (up 44.3%) and RMB 19.86 billion (up 37.9%), respectively. Boosted by these products, Chongqing's electromechanical exports totaled RMB 360.82 billion in the first three quarters, accounting for over 60% of the municipality's total export value.

The official emphasized that electromechanical products serve as a "ballast stone" for Chongqing's exports. The municipal government has implemented multiple measures to stabilize their export performance, including the "Chongqing Vehicles Going Global" plan, facilitating order acquisition for laptop manufacturers, and fostering business matching for upstream and downstream enterprises. In addition, Chongqing has leveraged open logistics corridors such as the New International Land-Sea Trade Corridor and the China-Europe Railway Express to provide more efficient shipping options for its electromechanical exports.

Foreign Trade Entities as Key Driver

The number of enterprises engaged in foreign trade continues to rise, with over 4,900 companies having recorded actual import-export performance - a historic high.

In early October, production lines at Chongqing Juruisen Decoration Materials Co., Ltd. (Juruisen), located in the Chongqing Hub Port Industrial Park, were operating at full capacity, producing over 1,200 super particle boards per hour.

Specializing in high-end particle board, Juruisen has an annual production capacity of 300,000 cubic meters. Its products are widely used in high-end wood product manufacturing, including cabinets, furniture, and audio equipment. The company's formaldehyde-free production process meets international environmental standards, earning recognition in overseas markets.

A company representative stated that Juruisen currently exports nearly 20,000 boards per month, generating monthly export revenue of approximately RMB 1 million.

 Another enterprise in the park, Chongqing Kema Industrial & Trading Co., Ltd., sees over 80% of its products - including gasoline and diesel engines along with generator sets - exported to more than 120 countries and regions, such as Italy, Mexico, and Nigeria.

Similar success stories are common throughout the Chongqing Hub Port Industrial Park.

For example, Chongqing Canyue New Materials Co., Ltd. has set up a production base in Thailand, while Chongqing Wanhu Mechanical and Electrical Products Co., Ltd. has established multiple "Wanhu Quick Service Centers" across Africa, accelerating its overseas market presence.

Statistics show that the park is now home to 20 foreign trade enterprises above the designated size, recording total import-export volume of RMB 5.81 billion in the first half of the year - a year-on-year increase of 10.1%.

The thriving activity at the Chongqing Hub Port Industrial Park mirrors the broader momentum of Chongqing's foreign trade sector.

According to Chongqing Customs authorities, the number of companies with actual import-export performance in the municipality exceeded 4,900 in the first three quarters - a record high. Among them, 615 were newly added private enterprises, representing growth of 16.5%, while the total import-export volume of private enterprises reached RMB 277.63 billion, an increase of 24.1%.

Diverse Trading Partners Provide Sustained Momentum

As Chongqing's international "circle of friends" continues to expand, emerging markets such as Central Asia and the Middle East are beginning to contribute significantly alongside ASEAN, the municipality's largest trading partner.

Overseas investment has become another important driver of foreign trade growth.

In May, Changan Automobile held a ceremony in Rayong, Thailand, to mark the launch of its new Thailand factory and the rollout of its 28.59 millionth vehicle globally. The Rayong plant's first phase is designed with an annual capacity of 100,000 vehicles, supplying the Thai market while also serving right-hand drive markets such as Australia, New Zealand, the UK, and South Africa. By 2027, its capacity is expected to reach 200,000 units.

In September, WEIMA Agricultural Machinery Co., Ltd. also put into operation its Thai subsidiary, Novis Power Equipment Co., Ltd., in Thailand. Together with its Chongqing headquarters, the company now operates modern plants totaling 180,000 square meters and more than 20 smart production lines. "We have now exceeded an annual production capacity of one million units," said a representative from WEIMA Agricultural Machinery. "We are accelerating the development of sales networks in Europe and Russia, and preparing to further expand into other emerging markets."

In recent years, Chongqing has actively pursued market diversification, with growing investment cooperation among RCEP member states becoming a key driver of the municipality‘s sustained foreign trade growth. In the first three quarters of this year, ASEAN remained Chongqing's largest trading partner, with bilateral import and export volume reaching RMB 99.76 billion, an increase of 24.2% year-on-year.

The municipality is also expanding its presence in emerging markets such as Central Asia and the Middle East. A notable example is Chongqing Water Turbine Works Co., Ltd., which recently secured an electromechanical EPC (engineering, procurement, and construction) contract for a hydropower station in Nepal, valued at nearly RMB 60 million. This marks the company's tenth EPC project in Nepal.

"Regions including ASEAN and Central Asia are becoming new growth engines in the global economy," stated an official from the Chongqing Municipal Commission of Commerce. "By leveraging opportunities brought by the implementation of RCEP and the Belt and Road Initiative, Chongqing has proactively engaged with emerging markets, effectively offsetting the impact of slowing demand in traditional markets."

In the first three quarters, Chongqing's trade with Belt and Road partner countries totaled RMB 264.08 billion, up 11.8% from the same period last year. Exports to Latin America, Africa, and Central Asia grew by 17.5%, 38%, and 76%, respectively.

The official added that Chongqing will continue to deepen cooperation with these emerging economies, aiming to shift from "spot breakthroughs" to "broad-based flourishing" in its foreign trade partnerships, thereby laying a solid foundation for sustainable growth in the years ahead.

Source: Chongqing Daily