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Steady growth for Zhejiang economy in Jan-Feb

ezhejiang.gov.cn| Updated: March 23, 2022 L M S

The economy of Zhejiang province maintained steady growth from January to February this year, according to Zhejiang Provincial Bureau of Statistics.

Figures released by the bureau show that the added value of industries above designated size reached 322.3 billion yuan ($50.57 billion), up 10.7 percent year-on-year, and fixed asset investment increased by 15.9 percent year-on-year during the January-February period, 5.1 percentage points faster than the same period in 2021. Investment in the manufacturing sector also grew by 28.6 percent.  

Market consumption continued to expand, with total retail sales of consumer goods rising 7.5 percent year-on-year to 474 billion. As a province known for its digital development, Zhejiang's robust online retail sales reached 266.5 billion yuan, up 8.0 percent year-on-year.

During the period, the province's exports stood at 537 billion yuan, a year-on-year increase of 26.9 percent, with its high-technology exports rising by 76.0 percent. Its imports stood at 185 billion yuan, a year-on-year increase of 22.6 percent.

In the first two months of 2022, Zhejiang also saw an increase in government revenue, while its consumer price index rose modestly by 1.1 percent year-on-year in February, 0.3 percentage points lower than in January.