The total industrial output value of the electric industry in Yueqing, a county-level city in Wenzhou, East China's Zhejiang province, totaled 139.9 billion yuan ($20.77 billion) in 2021, local media reported on June 8.
The total industrial output value of industrial enterprises above designated size in the electrical industry exceeded 97.94 billion yuan, up 17.2 percent year-on-year.
In recent years, both Yueqing and Wenzhou have focused on upgrading the industrial chain and improving the supply chain to promote the high-quality development of the electrical industry.
Today, Yueqing is the region with the most developed low-voltage electrical industry chain in China.
Yueqing is home to industrial leaders such as Chint, Delixi, Tengen, and People Electric, and a large number of small and micro-sized enterprises providing supporting supplies and services related to mold manufacturing, basic parts, logistics and marketing.
In addition, the overseas market has boosted the development of the electrical industry in Yueqing.
Exports of electrical products in Yueqing were valued at 5.62 billion yuan, an increase of 29.57 percent year-on-year. During this same period, Wenzhou's exports of electrical products to ASEAN increased 87.9 percent year-on-year.
"The implementation of the RCEP has presented new opportunities for the foreign trade development of Wenzhou electrical products", said Zhen Yuanbao, chairperson of People Electric Appliance Group Co Ltd.
