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Morning Briefing from Chongqing: State-Owned Enterprise Reforms Drive 9% Profit Surge in First Half of the Year

Deep News07:40

Good morning from Chongqing! Today is Tuesday, August 4, 2026.

Chongqing Jiangbei International Airport surpassed 30 million passenger trips in 2026, reaching this milestone three days earlier than last year. During this summer travel season, the airport broke records multiple times, including handling 1,113 flights on July 27, a historic high since its opening, and exceeding 170,000 daily passengers on July 31, setting a new summer record.

In the first half of this year, key state-owned enterprises under the Chongqing municipal government reported a 2.4% year-on-year increase in revenue, a 9% rise in profits, and a 9.7% growth in value added, all accelerating from the first quarter. The 国企改革 dividend continued to flow, achieving half of the annual targets by mid-year. These enterprises completed 95.81 billion yuan in investments, up 3.8% year-on-year, including 79.71 billion yuan in fixed assets, a 6.6% increase that outpaced the city's average by 7 percentage points. Functional and support enterprises accounted for 81.44 billion yuan of the total, or 85%. Additionally, through loss management and asset revitalization efforts, they cumulatively revitalized 28.52 billion yuan in state-owned assets and recovered 15.56 billion yuan in funds.

The G85 Yinkun Expressway (old Chengdu-Chongqing Highway) will undergo emergency maintenance from August 5 to August 30, 2026, due to structural safety risks in an overpass bridge at section K1281+700-750, near the Shuangshi Interchange. During this period, staged lane closures will be implemented, but the main line will remain open. Vehicles wider than 3.75 meters, including large trucks and oversize transport vehicles, are prohibited from entering the construction zone. Detour routes are established for outbound (Rongchang to Yongchuan) and inbound (Yongchuan to Rongchang) traffic via G85 Yinkun, Sanhuan, Yonglu, Guanglu, and other expressways.

The Supreme People's Court released five typical cases on August 3 to regulate platform operations and protect consumer rights, covering live-stream e-commerce, platform compliance, market competition order, and virtual property transactions. These cases clarify that e-commerce platforms have a duty to supervise merchant deposits, and live-stream promoters' promises of after-sales guarantees and compensation are legally binding.

China's marine economy showed strong growth in the first half of the year, with a preliminary gross ocean product of 5.5 trillion yuan, up 5.1% year-on-year, outpacing GDP growth by 0.4 percentage points and accounting for 7.9% of GDP. New sea and island use projects totaled 1,246, covering 123,000 hectares, with investments exceeding 380 billion yuan, supporting marine fisheries, industry, and transportation.

The "15th Five-Year Plan" for the new power system, released on August 3, aims to establish a green and low-carbon electricity supply pattern by 2030. During the 15th Five-Year Plan period, China will boost non-fossil energy power support, leverage inter-provincial power exchange and virtual power plants, and strengthen the foundation of traditional power sources like coal and gas, promoting green development while ensuring energy security.

Weather for August 4: Day to night, central and eastern areas will see showers, with heavy to torrential rain in the southeast (50-60 mm) and cloudy skies in the west. Temperatures range from 21掳C to 34掳C. In the city center, cloudy with scattered showers, 25掳C to 33掳C.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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