Hangzhou touts decade-long progress

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The Hangzhou CPC Municipal Committee reviews the city’s progress. [Photo provided to chinadaily.com.cn]

Hangzhou in Zhejiang province has made remarkable progress since the 18th National Congress of the Communist Party of China in 2012, authorities said at a press conference on Thursday.

Liu Jie, secretary of the CPC Hangzhou Municipal Committee, said the city successfully hosted influential activities such as the 2016 G20 Summit and held the 19th Asian Games Hangzhou 2022 and Para-Asian Games Hangzhou. 2022, with the city’s growing international popularity and influence.

Hangzhou has played an active role in the province’s high-grade development. The city’s GDP grew from 797 billion yuan ($116 billion) in 2012 to 1.811 billion yuan in 2021, with an average annual growth of 7.9 percent.

In 2021, the added value of Hangzhou’s service industry exceeded 1.2 trillion yuan, accounting for 67.9% of its GDP. The revenue of key industries in the digital economy exceeded 1.6 trillion yuan, and its added value accounted for 27.1 percent of its GDP.

The city’s business climate has supported the vitality of the market and increased its appeal to young talent. The net talent inflow rate – foreign talent and Internet talent – has ranked first in the country for many consecutive years, and the city has been selected as “the most attractive Chinese city for foreign talent” for 11 consecutive years.

Hangzhou has six national entrepreneurship and innovation demonstration bases and 116 national-level incubators. Nearly one million new business entities have been established, and the total number of domestic high-tech enterprises exceeds 10,000. The number of the top 500 private enterprises ranked first in the country for 19 consecutive years.

Hangzhou has also supported its efforts to boost the development of history and culture. Over the past 10 years, the added value of Hangzhou’s cultural industry has increased from 48.4 billion yuan to 258.6 billion yuan.

At present, Hangzhou has three UNESCO World Cultural Heritage Sites, including the West Lake Landscapes, the Grand Canal (named UNESCO World Cultural Heritage in 2014) and the Archaeological Ruins of the city ​​of Liangzhu (named UNESCO World Heritage in 2019).

As one of the most important economic areas in Zhejiang, Hangzhou strives to achieve common prosperity through continuous efforts. Over the past decade, the average annual growth in per capita disposable income in the city for urban and rural residents has reached 8.2% and 10.8% respectively.

Liu urged the city to improve its innovation capabilities, showcase its history and culture, and build an ecological civilization.

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