Huzhou's GDP rises 3.3% in 2020

chinadaily.com.cn | Updated: Jan 28, 2021

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Huzhou's GDP amounts to 320.14 billion yuan ($49.25 billion) in 2020, up 3.3 percent year-on-year. [Photo/WeChat accocunt:huzhoufabu]

The gross domestic product (GDP) of Huzhou in East China's Zhejiang province amounted to 320.14 billion yuan ($49.25 billion)  in 2020, up 3.3 percent year-on-year, according to local authorities.

The added value of the city's primary, secondary, and tertiary industries reached 14.05 billion yuan, 158.76 billion yuan, and 147.33 billion yuan, representing a growth of 2.5 percent, 2 percent, and 4.8 percent respectively.

The industrial added value of enterprises above designated size in Huzhou surged 5.1 percent year-on-year to 97.8 billion yuan, with the growth rate ranking third in the province.

Their combined profits and taxes reached 49.89 billion yuan, up 10.5 percent year-on-year.

Among the 33 major categories of industries in the city, 20 industries, including general equipment, electrical machinery and equipment, furniture manufacturing, as well as pharmaceutical manufacturing, achieved positive growth in added value. 

The turnover of above-quota enterprises in the accommodation sector edged up 0.3 percent to 2.37 billion yuan in Huzhou, making it the only city in Zhejiang that saw positive growth in that regard.

The financial sector still recorded the fastest rate among sectors in Huzhou. Its added value expanded 11.9 percent year-on-year to 25.47 billion yuan in 2020.

The city's investment in fixed assets also showed a good performance, registering a yearly increase of 6.6 percent.

Its consumption rebounded in an accelerated manner. In 2020, the total retail sales of social consumer goods in the city reached 142.44 billion yuan, a year-on-year growth of 1 percent, ranking first in the province.

For the first time, Huzhou's foreign trade value surpassed 100 million yuan. It rose by 20.4 percent year-on-year to 113.22 billion yuan, with exports expanding 22.3 percent to 102.58 billion yuan.

In addition, its fiscal revenue jumped 7.7 percent to 58.21 billion yuan.

Residents saw a stable increase in income last year. The per capita disposable income of its urban residents rose 4.6 percent to 61,743 yuan, while the figure for rural residents was 37,244 yuan, up 7 percent.