A bird's-eye view of Wenzhou in East China's Zhejiang province. [Photo by Su Qiaojiang/WeChat account: wenzhoufabu]
The Wenzhou statistics bureau announced on Sept 23 that the city's economy has showed signs of recovery in August, with main indicators presenting positive changes and industrial processes gaining a steady rise.
The industrial added value of enterprises above a designated size, referring to those with annual revenue exceeding 20 million yuan ($2.76 million), rose 7.7 percent year on year in August, 3.3 percentage points higher than in July.
Emerging industries, especially equipment manufacturing and digital economy, saw year-on-year increases of 7.1 percent and 12 percent, respectively, in industrial added value in August.
In terms of the service industry, a pillar industry of Wenzhou, internet, software and information technology services have taken the lead by registering a growth of 43 percent during the same period.
From January to August, Wenzhou realized a year-on-year increase of 9.4 percent in fixed asset investment, with that in infrastructure, transportation, and environmental protection registering the highest year-on-year increases of 31.4 percent, 26 percent, and 30 percent, respectively.
Wenzhou's consumer market was also vibrant with total retail sales of consumer goods increasing by 8.8 percent year on year and those of new energy vehicles increasing by 60 percent.
Imports and exports continued to grow rapidly, with the city's total values of foreign trade, exports and imports increasing by 16.8 percent, 18.2 percent, and 7.4 percent, respectively.
