Hangzhou Economy

As the capital of Zhejiang province, Hangzhou is also the politics, economy and culture center of Zhejiang province. It is not only a famous tourist place, but also an industrial city with many diverse sectors such as in agriculture, textile and light industry. It is considered as the most important manufacturing base and logistics hub for coastal China.

In Hangzhou, there is the biggest flax textile factory in China. The silk of Hangzhou is well-known all over the world with a very long history, and also, the output and the quality of the products are in the first places in China. There are 7000 kinds of machines, and some of them are entered the international market. The agricultural sideline occupations are developed too.

The economy of Hangzhou is well developed. Since the implementation of the policy of reform and opening up, Hangzhou has made significant progress in developing its foreign economic relations and trade, which plays an important role in Hangzhou's economy. In 2001, the GDP of the whole city amounts to RMB 156.8 billion which ranks the second among all of the provincial capitals except for Guangzhou. The city has tripled GDP and Per capita GDP in the last seven years, with GDP increasing from RMB ¥156.8 billion in 2001 to RMB ¥478.1 billion in 2008 and GDP per capita increasing from USD 3,025 to USD 10,199.
By many years of development, the city has developed many new industries, which include medicine, information technology, heavy equipment, automotive components, household electrical appliances, electronics, telecommunication, fine chemicals, chemical fiber and food processing. Moreover, the development of production of agriculture takes on a promising outlook, due to fertile soil, rich natural resources, temperate climate and abundant rainfall.

Nowadays, the city government is endeavoring to make Hangzhou a city of diversified culture, powerful economic strength, and modernized world-wide famous tourist site.

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