China's Chongqing GDP grows 5.0% y/y in the first half

China's Chongqing GDP grows 5.0% y/y in the first half

In the first half of 2025, Chongqing's gross domestic product (GDP) grew by 5.0% year-on-year, according to data released by the city's statistics authorities. This growth, while slightly lower than the national average, reflects the city's continued resilience and development.

Chongqing's GDP reached 1.3 trillion yuan ($185.8 billion) during the period, demonstrating the city's economic strength. The primary industry, which includes agriculture, forestry, and fishing, contributed to the growth with an added value of 1.3 billion yuan, a 2.1% increase from the previous year. The secondary industry, encompassing manufacturing and construction, saw a 4.8% growth to 656.4 billion yuan, driven by high-end manufacturing sectors such as lithium-ion batteries, new energy vehicles, and medical equipment.

The tertiary industry, which includes services, showed robust growth, expanding by 5.2% to 609.8 billion yuan. This sector is a key driver of Chongqing's economic development, with significant contributions from information transmission, software, and IT services, which grew by 11.2%. Financial services also saw a notable increase, rising by 8.4% to 309.2 billion yuan.

Chongqing's economic growth is supported by strategic initiatives such as the Belt and Road Initiative, which has facilitated trade and investment in the region. The city's foreign trade volume has been expanding, with the total imports and exports reaching 378.5 billion yuan in the first half of 2025, an increase of 12.3% year-on-year [1].

The city's efforts to improve logistics infrastructure, including the development of the Chengdu Tianfu International Airport and the China-Laos Railway, have also contributed to its economic growth. These initiatives not only enhance connectivity but also provide a significant boost to trade and commerce.

Despite the economic growth, Chongqing faces challenges such as high unemployment rates and income disparities. However, the city's commitment to economic development and innovation, along with supportive government policies, positions it well for continued growth in the future.

References:
[1] https://www.bastillepost.com/global/article/5046010-foreign-trade-of-chinas-western-region-up-10-4-pct-in-h1