Zhejiang's GDP up 6.8 percent in 2019

Zhejiang, one of the wealthiest provinces in China, sees its GDP exceed more than 710 billion USD in 2019, up 6.8% year on year.

The gross domestic product (GDP) of east China's Zhejiang Province was expected to exceed 6 trillion yuan (about 717 billion U.S. dollars) in 2019, with a year-on-year growth of 6.8 percent.

According to the government work report delivered Sunday at the annual session of the provincial people's congress, the per capita disposable income for urban and rural residents in Zhejiang increased by 8.3 percent and 9.4 percent, respectively.

With the Chinese economy facing external uncertainties in 2019, Zhejiang, among the major trading provinces, unveiled and practiced 20 policies to stabilize its foreign trade.

Its estimated imports and exports value exceeded 3 trillion yuan in 2019, with exports up 8.5 percent, accounting for 13.3 percent of the national total.

The actual utilization of foreign capital reached 13.4 billion U.S. dollars, an increase of 7 percent over 2019.

Consumption also rose steadily. According to the report, the total retail sales of consumer goods increased by 8.6 percent, while online and cross-border retail sales increased by 18.1 percent and 35.3 percent, respectively.

As a private economy powerhouse, Zhejiang reported a 9 percent increase in the added value of the private economy, a 10-percent rise in the exports of private enterprises.