Hangzhou manufacturing industry maintains steady growth


Qianjiang New City in Hangzhou. [Photo/IC]

The added value of industries above designated size in Hangzhou, capital city of East China’s Zhejiang province, increased by 13.4 percent year-on-year to 257 billion yuan ($39.71 billion) in the first eight months of the year, according to the local statistics bureau.

Hangzhou experienced an annual increase of 7.1 percent in added value of industries above designated size over the past two years, a significant achievement for the city, which started ramping up efforts to develop its manufacturing industry in 2019 when the figure was 5.1 percent.

The profits generated by industries above designated size in Hangzhou jumped 26.9 percent year-on-year in the first seven months of the year to 75.4 billion yuan, with a two-year average increase of 14.3 percent.

The increase rates of profits generated by the computer and communication manufacturing, the general-purpose equipment manufacturing, as well as the pharmaceutical manufacturing industries ranked as the top three among other manufacturing industries in the city at 30.2 percent, 30.2 percent, and 37.1 percent respectively.

The investment growth in the city’s manufacturing industry soared 31.6 percent year-on-year in the Jan-Aug period, with the computer and communication manufacturing industry boasting the highest increase.

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