Hangzhou's GDP up 6.9% in H1

Updated: Jul 23, 2019 Print
A nighttime view of downtown CBD by the Qiantang River in Hangzhou, capital of Zhejiang province [Photo/VCG]

The gross domestic product (GDP) of Hangzhou, capital of East China's Zhejiang province, rose 6.9 percent year on year to 694.9 billion yuan ($100.97 billion) in the first half of the year, according to the Hangzhou Municipal Statistics Bureau on July 19.

Hangzhou's economy maintained steady progress in the first half of this year, said an official from the bureau, adding that the main industries behind the city's economic development were still experiencing high-speed growth.

Digital economy, a major driver of the city's economy, witnessed rapid growth of 15.5 percent in added value, accounting for 25.3 percent of Hangzhou's GDP.

Key industries including tourism, culture and healthcare grew by 11.8, 15.3 and 12.1 percent year-on-year, respectively.

The service industry continues to serve as an anchor for Hangzhou's regional economy. In the first half of 2019, the added value of Hangzhou's service industry saw year-on-year growth of 8.8 percent, among which information transmission, software and information technology services were major players.

Despite sluggish international foreign trade, Hangzhou recorded 16.5 billion yuan in foreign exports in the first six months, up 3.5 percent year on year.

In the latter half of the year, Hangzhou will work to attract foreign investment and businesses, advance development of 5G technology, optimize business environment, furthering open up, and improve people's livelihoods, according to Zhou Jiangyong, Party secretary of Hangzhou.

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