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The CPC Shaoxing Municipal Committee holds a press conference in Shaoxing, Zhejiang province on Aug 8. [Photo provided to ezhejiang.gov.cn]

The press conference commemorating the 20th anniversary of the implementation of the Double-Eight Strategy was held in Shaoxing on Aug 8.

The conference was titled "Leading the In-depth Implementation of the Double-Eight Strategy and Pioneering New Practices on the Chinese Path to Modernization."

Wen Nuan, secretary of the Communist Party of China Shaoxing Municipal Committee, delivered the keynote address at the press conference, sharing the progress made over the 20 years since the launch of the Double-Eight Strategy.

From 2002 to 2022, the city's GDP increased from 88.6 billion yuan ($12.29 billion) to 735.1 billion yuan, per capita GDP rose from $2,400 to $20,400, and urban and rural residents' per capita disposable incomes grew from 11,746 yuan and 5,690 yuan to 76,199 yuan and 45,709 yuan, respectively.

The Double-Eight Strategy has been instrumental in guiding the high-quality development of Shaoxing's manufacturing industry.

An aerial view of Shaoxing. [Photo provided to ezhejiang.gov.cn]

Today, Shaoxing's manufacturing sector has surged, nurturing strong industries like textiles, chemicals, and bearings.

"We consider manufacturing to be the main battlefield of regional competition and the focal point of economic development," said Wen. Under the guidance of the Double-Eight Strategy, Shaoxing has expedited the establishment of a distinctive modern industrial system, ignited intrinsic dynamism, and enhanced economic resilience.

Private enterprises have emerged as a crucial force in technological innovation and play a pivotal role in propelling Shaoxing's manufacturing industry's high-quality growth.

Over the past 20 years, the number of market entities in Shaoxing has surged from 170,000 to 750,000, the number of publicly listed enterprises has increased from 13 to 98, and the number of foreign-funded enterprises has exceeded 110,000. The city is now home to 2,605 national high-tech enterprises, with R&D expenditure accounting for 2.87 percent of GDP.

Shi Huifang, deputy Party secretary and mayor of Shaoxing, highlighted the city's strides in developing a technological innovation system. Its efforts include the creation of a pilot area for education, technology, and talent, the advancement of an innovation platform encompassing research institutes and laboratories, and enticing prestigious institutions and high-end talent to come to Shaoxing.