Full recovery ahead as Zhuji reports GDP increase
Zhuji, a county-level city in Shaoxing, East China's Zhejiang province, reported a 20.8 percent increase of its GDP in the first quarter of this year, according to the city's statistics bureau on April 25.
In the first three months of the year, Zhuji's GDP reached about 33.73 billion yuan ($5.24 billion). The growth rate was 3.4 percentage points higher than Shaoxing's growth rate of 17.4 percent in the same period.
Statistics show that above-designated-size manufacturers in Shaoxing, meaning those with annual operating revenues of roughly $3.1 million or more, realized a 73.9 percent year-on-year growth in added value.
Shaoxing's fixed-asset investment in the transportation sector grew rapidly in the first quarter of the year, official data showed. The sector's total fixed-asset investment jumped 201.9 percent year-on-year.
The booming private sector economy was another highlight, as the municipal commerce bureau registered 7,343 market entities in the first quarter of the year, up 79.8 percent year-on-year.