Expat mediator (center) resolves a dispute in Yiwu, Zhejiang province. [Photo/Lyu Bin for China Daily]

The Department of Commerce of Zhejiang Province outlined its key commerce and investment priorities for 2026 at a provincial commerce and investment promotion conference held in Hangzhou on Jan 21, following a review of its 2025 performance.

In 2025, Zhejiang's total imports and exports reached 5.55 trillion yuan ($790 billion), up 5.4 percent year-on-year. Retail sales of consumer goods totaled 3.92 trillion yuan, an increase of 4.0 percent, while online retail sales climbed 9.5 percent to 2.10 trillion yuan. The province also attracted 3,292 industrial projects, each valued at more than 100 million yuan, with planned investment totaling 1.60 trillion yuan.

Outbound direct investment reached $16.94 billion, ranking second nationwide. From January to November, Zhejiang's economic development zones attracted $7.07 billion in foreign investment, up 5.0 percent year-on-year, accounting for 64.6 percent of the provincial total. Their combined imports and exports totaled 2.60 trillion yuan, 51.4 percent of the total.

In 2026, Zhejiang will place stronger emphasis on stimulating consumption.

The province plans to hold more than 3,000 shopping-related events, including seasonal shopping campaigns and sports-linked promotions tied to the Zhejiang Provincial City Basketball League and the Zhejiang Provincial City Football League, with more than 700 themed consumption activities planned.

Zhejiang will also expand shopping destinations, targeting more than 1,500 new brand outlets, including at least 150 at the provincial level or above.

The province also plans to advance reforms related to bulk commodity reserves, strengthen the provincial bulk commodity trading center, and accelerate international trade reforms in Yiwu, a county-level city known for exports of small commodities.