The municipal government of Quzhou in East China's Zhejiang province held a news conference on Nov 6 to highlight the city's economic and social development achievements during the 14th Five-Year Plan period (2021-25).

Over the past five years, Quzhou has focused on promoting high-quality industrial development, developing its six key industries. The city has also attracted major projects, such as Geely's "Three Electric" series projects, Vital Medica's medical imaging equipment project, and Penghui Energy's energy storage battery project, with 15 projects exceeding 10 billion yuan ($1.4 billion) each.

From 2020 to 2024, the total industrial output value of enterprises above the designated size rose from 190.2 billion yuan to 301.3 billion yuan, with the number of listed companies in the city reaching 22.

Project construction has been pivotal in driving industrial development, with 106 major provincial projects having commenced and 45 already completed. Infrastructure projects, such as the Quzhou-Lishui Railway, are progressing steadily.

A rural road with beautiful scenery in Quzhou. [Photo/WeChat ID: quzhoufb]

As the province's comprehensive pilot for new urbanization, Quzhou has effectively addressed the urban-rural divide through integrated development, implementing initiatives such as relocating 93,000 farmers, adopting innovative financing solutions, and revitalizing 19,000 idle rural homes and over 86 square kilometers of land.

Quzhou's efforts have narrowed regional, urban-rural, and income disparities, with the city's GDP growth ranking in the top five provincially for four consecutive years. Its urbanization growth rate has led the province, and its urban-rural income ratio has narrowed to 1.755.