CHONGQING -- Southwest China's Chongqing municipality will boost the number of technology firms in the municipality over the next five years, with the goal of increasing the figure to nearly 100,000 by 2027.

Among the total, the number of high-tech firms in Chongqing will exceed 12,800 by 2027, according to a press conference held on Friday.

Chongqing has continuously cultivated new growth drivers and expanded new space for development. In the past five years, Chongqing's GDP registered an average annual increase of around 5.3 percent to exceed an estimated 2.9 trillion yuan ($422 billion) in 2022, according to the municipal government work report.