The fourth session of the ninth Huzhou Municipal People's Congress commences in Huzhou, East China's Zhejiang province, on Jan 30. [Photo/WeChat account: huzhoufabu]

The gross domestic product of Huzhou, Zhejiang province, amounted to 401.5 billion yuan ($55.91 billion), marking an increase of 5.8 percent year-on-year, as reported by Mayor Hong Hupeng during the fourth session of the ninth Huzhou Municipal People's Congress, which opened on Jan 30.

According to the report, the city's general public budget revenue experienced a yearly increase of 6 percent to 41.05 billion yuan. Additionally, the per capita disposable income of urban residents and rural residents hit 74,400 yuan and 47,455 yuan, respectively, narrowing the urban-rural income ratio to 1.57.

After reviewing the accomplishments of 2023, Hong also unveiled the city's development goals for the upcoming year.

The report stated that Huzhou will strive to achieve a growth of roughly 6 percent in its GDP. Additionally, the city set growth rate targets for investment in fixed assets and retail sales of consumer goods at 7 percent and 6 percent, respectively.

The city will also spare no efforts to ensure that the growth of its general public budget revenue, residents' income, and economic output remain in sync with one another. In addition, the urban unemployment rate will be kept below 5 percent, as outlined in the report.