Jiaxing's service industry recovers fast after COVID-19 outbreak
With COVID-19 leveling off, the turnover growth of the catering sector in Jiaxing turns from negative to positive in June. [Photo/WeChat account: jxfabu]
The service industry in Jiaxing, a city in East China's Zhejiang province, has experienced a rapid recovery from the COVID-19 outbreak earlier this year, according to local media reports on Aug 11.
The service industry in the city boosted regional GDP by 1.7 percent in the first half of this year (H1).
Statistics show that the added value of the service industry rose 3.8 percent to 117.25 billion yuan ($16.87 billion) during the same period, ranking first among the 16 cities in the core area of the Yangtze River Delta region, and second in Zhejiang.
The growth rate is 1.2 percentage points higher than that of the second quarter this year and 3.2 percentage points higher than that of the city's regional GDP.
The service industry in Jiaxing achieved stable growth not only in traditional sectors, such as catering, accommodation, wholesale and retail, but also in the financial services, software and information technology, sci-tech services, and human resources sectors.
The recovery of the industry was partly due to the measures taken by the local government to boost consumption, including issuing consumption vouchers and promoting local products via livestreaming.
Since the end of March, Jiaxing has issued vouchers worth 200 million yuan, benefiting nearly 40,000 stores and driving 7.92 billion yuan of consumption.
In the first half of this year, the software and information service sector in Jiaxing sees the largest growth rate in Zhejiang. [Photo/WeChat account: jxfabu]