The invention discloses a camera module and electronic equipment, the camera module comprises a shell, a lens assembly, a first elastic piece, a chip assembly and a driving assembly, the lens assembly is fixedly installed on the shell, an outer frame of the first elastic piece is fixedly connected with the shell, the chip assembly is movably installed in the shell, and the driving assembly is used for driving the chip assembly to move, wherein the driving assembly comprises a coil carrier, the chip assembly comprises a substrate, a chip and a flexible circuit board, the substrate is fixedly connected with the coil carrier, the flexible circuit board and the substrate are connected with the chip, the flexible circuit board is fixedly installed on the shell, and the first elastic piece and the flexible circuit board are arranged at the two opposite ends of the coil carrier. The flexible circuit board is elastic and serves as the second elastic piece, and compared with a traditional camera module, only one first elastic piece needs to be arranged, and the size of the camera module is reduced.