Chongqing’s private sector has emerged as a cornerstone of the city’s economic development, contributing significantly to GDP growth, employment, and technological innovation. As of 2024, the private sector’s value-added reached 1.98 trillion yuan, accounting for 61.6% of Chongqing’s GDP. This marks a notable increase from 59% at the beginning of the 14th Five-Year Plan period (2021–2025).
The number of private market entities in Chongqing has expanded from 2.9 million to 3.67 million, now representing 97.8% of all registered businesses. This growth underscores the sector’s vital role in the city’s economic landscape.
Employment generation is another area where the private sector excels. In 2024, private enterprises provided 640,000 new urban jobs, accounting for over 90% of the total. These jobs span various demographics, including college graduates, rural migrant workers, individuals with disabilities, and demobilized military personnel.
Beyond employment, private firms have actively participated in rural revitalization. By 2024, 11,178 private companies had joined the “10,000 Enterprises Revitalizing 10,000 Villages” initiative, pairing with 5,919 villages and launching 13,146 projects with a total investment of 63 billion yuan.
Innovation is a hallmark of Chongqing’s private sector. By 2024, the city boasted 8,042 private high-tech enterprises, accounting for 91% of the total. Research and development spending by the top 100 private enterprises reached 22.3 billion yuan, a 25% year-on-year increase.
Several Chongqing companies have gained national recognition. Sevnce Robotics Co. Ltd. and Chongqing Theseus Information Technology Co. Ltd. were selected for CCTV’s 2024 top 10 annual cases on new quality productive forces. Additionally, seven Chongqing firms made the China Top 500 Private Enterprises list in 2025, and five were included in the China Top 500 Private Manufacturing Enterprises list.
In supporting the Chengdu-Chongqing economic circle, 97 chambers of commerce in Chongqing signed strategic cooperation agreements with counterparts in Sichuan. The Chongqing Electronic Circuit Industrial Park has attracted 56 companies, with an annual output value exceeding 20 billion yuan, strengthening industrial cluster coordination across the two regions.
The 2025 Global Chongqing Entrepreneurs Conference further highlighted the sector’s dynamism, with entrepreneurs and chamber leaders from 56 countries and regions signing 64 projects totaling 56.7 billion yuan.
Chongqing’s private sector continues to be a driving force behind the city’s economic growth, job creation, and innovation, positioning itself as a key player in the region’s development.