Researchers at an electronics company in Huzhou, Zhejiang province delve into new products on Feb 13. [Photo/zjol.com.cn]

Official figures have revealed that one of the main driving forces to the economic growth, the industrial economy, reached a peak in Huzhou, Zhejiang province in 2018.

Figures from the city's economic and information bureau showed that last year, the value added of industrial enterprises above designated size – defined as State-owned and non-State-owned industrial companies with annual revenue of over 20 million yuan ($2.9 million) – has grown 9.3 percent year-on-year to 80.15 billion yuan, 2 percentage points higher than the province's average and a record high over the last five years.

An official noted that the growth was a result of Huzhou's efforts to develop green and intelligent manufacturing. In 2018, the value added in strategic emerging industries, high-tech industries and equipment manufacturing industries increased 11.7, 10.4 and 9.5 percent respectively. He said the improvement of the local industrial structure laid a foundation for the expansion of the entire industrial economy.

Meanwhile, the power of innovation also played a vital role in this robust growth. Last year, the spending on scientific and technological activities in Huzhou's 339 key companies surpassed 5.49 billion yuan, a year-on-year increase of 28.9 percent, according to the official from the economic and information bureau.

Workers concentrate on the manufacturing of electronic products at a company in Huzhou, Zhejiang province on Feb 13. [Photo/zjol.com.cn]