Chongqing State-owned Enterprises Deliver Solid Q1 Performance, Driving High-quality Development

Since the start of 2026, Chongqing’s state-owned enterprises (SOEs) have adhered to the work orientation of “focusing on investment, sprinting at the start and accelerating throughout the year”, anchoring the work goal of “1 new breakthrough and 4 new improvements” and implementing 77 detailed reform and development measures. With a striving attitude of “starting at full speed and sprinting from the beginning”, they have promoted sustained and sound economic operation, delivering an impressive in the first quarter of 2026.

China News Service reports that from January to March 2026, key municipal-level SOEs in Chongqing achieved a total profit of 5.3% year-on-year growth, an added value of 3.9% year-on-year growth, and a total investment of 5.9% year-on-year growth. The overall loss rate and operational loss rate stood at 18.1% and 12.4% respectively, remaining at historically low levels, marking a solid start to the year.

To deepen the reform of SOEs and improve development quality and efficiency, Chongqing’s SOEs have carried out in-depth inspections of assets to be revitalized. In the first quarter, they identified and added 38.2 billion yuan of assets to be revitalized, increasing the total to 120.6 billion yuan, accounting for 4.3% of the total assets of municipal SOEs (excluding financial enterprises). From January to March, municipal SOEs revitalized 12.15 billion yuan of assets and recovered 7.75 billion yuan of funds, completing 30.4% and 38.8% of the annual tasks respectively. Among them, 5.53 billion yuan was recovered by introducing external resources, accounting for 71.4% of the total recovered funds.

Innovative practices have yielded remarkable results. For instance, Yutan Branch of Chongqing Raw Water Resources Management Co., Ltd. revitalized the 10,000-mu water surface of Yutan Reservoir to develop ecological fish farming, expanding marginal benefits and boosting rural revitalization. Chongqing Real Estate Group transformed idle houses into long-term rental apartments, with 31 projects implemented, providing over 10,000 housing units to serve tens of thousands of new urban residents. Looking ahead, Chongqing Development and Investment Company launched the “4241” action plan for asset revitalization, planning to focus on four major areas of assets during the “15th Five-Year Plan” period and invest 20 billion yuan directly to leverage 40 billion yuan of social capital, helping the city revitalize over 100 billion yuan of assets.

China News Service points out that Chongqing’s SOEs have accelerated the pace of reform, launching specialized integration in fields such as automotive electronics, energy, water supply and drainage, engineering testing, and cultural publishing in the first quarter. The withdrawal of non-core and inefficient equity has completed 58% of the annual target. The level of modern governance has also been improved, with the dynamic governance of data managed by “State-owned Assets Intelligent Management” reaching 75%.

Focusing on innovation-driven development, Chongqing’s SOEs have continuously increased R&D investment. From January to March, municipal state-owned industrial enterprises invested 373 million yuan in R&D, a 4.25% year-on-year increase in the same caliber, with an R&D intensity of 3.36%, 0.03 percentage points higher than the same period last year. Key technological breakthroughs have been made: Chongqing Pump Industry Co., Ltd. successfully won an order for high-pressure diaphragm pumps, the core equipment for an overseas melamine project, officially entering the ranks of global suppliers of core equipment for extreme high-temperature, high-pressure and high-corrosion working conditions.

The supporting role of stable investment has been fully enhanced. Focusing on major strategies such as the construction of the Chengdu-Chongqing Twin City Economic Circle, municipal SOEs completed 48.893 billion yuan of investment in the first quarter, a year-on-year increase of 5.9%. They undertook 213 municipal key projects in 2026, with a planned investment of 130.432 billion yuan, and completed 34.853 billion yuan of investment in the first quarter, accounting for about 30% of the city’s total investment.

Key municipal SOEs have maintained sound core operating indicators. Chongqing Electrical Machinery Group achieved a 13% year-on-year increase in operating income and a 57.2% year-on-year increase in total profit in the first quarter. Chongqing Yufu Holding Group’s total assets reached 545.391 billion yuan, with operating income and total profit increasing by 8.63% and 20.7% year-on-year respectively. Chongqing Three Gorges Guarantee Group ranked first in the country in terms of guaranteed scale, reaching 259.6 billion yuan.