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Shangyu district is located in Shaoxing, Zhejiang province. [Photo provided to ezhejiang.gov.cn]

The "two sessions" of Shangyu district, Shaoxing, recently commenced. The sessions, an annual gathering of the district's lawmakers and political advisors, include discussions on the economic and social developments of the past year as well as plans for the upcoming year.

Projections for 2023 indicate that the total regional GDP of the entire area will reach 135 billion yuan ($18.83 billion), growth of 7.5 percent year-on-year.

The general public budget revenue is expected to reach 9.77 billion yuan, growth of 7.3 percent.

Per capita disposable income for urban and rural residents is anticipated to reach 82,100 yuan and 47,900 yuan, growth rates of 5.5 percent and 6.5 percent, respectively.

Shangyu has achieved a total fixed asset investment of 35 billion yuan, growing 17 percent and securing the top position in the city. The district has attracted 14 projects with investments exceeding 1 billion yuan, including two projects surpassing 10 billion yuan. The actual utilization of foreign investment reached $270 million, the highest in the city.

Residents’ annual wellbeing expenditure in Shangyu reached 10.7 billion yuan, constituting 77.9 percent of the general public budget expenditure. Thirty-one district-level wellbeing projects, including free outpatient services for chronic diseases, were completed to a high standard.

In 2024, Shangyu will take advantage of emerging trends in technological development and strategically focus on leading industries such as fine chemicals, semiconductors, and high-end equipment manufacturing.

Shangyu will seek to become a new hub for investment and business development. The district aims to enhance connections between domestic and international markets, reshape investment promotion models, mechanisms, policies, and platforms, and establish itself as a trailblazer in the reform and opening-up of the Yangtze River Delta area.