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Zhejiang's GDP rises 19.5 percent in Q1

ezhejiang.gov.cn| Updated: April 25, 2021 L M S

The Information Office of the Zhejiang provincial government released its latest economic data at a news conference on April 25.

According to the office, the province generated 1.63 trillion yuan ($251.74 billion) in gross domestic product over the first quarter of this year, up 19.5 percent year-on-year.

The value added in the province's primary, secondary, and tertiary industries in Q1 rose by 2.8 percent, 27.1 percent, and 15.4 percent year-on-year to 33.7 billion yuan, 638.2 billion yuan, and 962.8 billion yuan respectively.

The province's above-designated-sized industrial companies (those with annual operating revenue of about $3.1 million or more) had a total value addition of 440.4 billion yuan in Q1, an increasing of 34.1 percent from the previous year.

In the same period, the province's manufacturing sectors centered on digital economy saw a 47.1 percent surge in total value addition.

Service sectors contributed 9.3 percentage points to the province's year-on-year GDP growth rate in Q1.

The province's fixed-asset investment grew by 21.8 percent in Q1, while the total sales for consumer goods retailers increased by 26.5 percent year-on-year to 674.8 billion yuan.

The province's foreign trade volume shot up 37.2 percent year-on-year to 861.9 billion yuan in Q1, making up 10.2 percent of the national aggregate.

Disposable income per capita among Zhejiang residents was 18,263 yuan in Q1, up 17.3 percent from the previous year.

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An employee works at a copper processing plant in Dongyang, Zhejiang province. BAO KANGXUAN/FOR CHINA DAILY