HANGZHOU, China, Dec. 17, 2021 /PRNewswire/ — A news report by haiwainet.cn: From January to October, industrial enterprises above designated size in Hangzhou achieved RMB 329.1 yuan billion of Gross Value-Added (GVA), a year-on-year increase of 12%; industrial investment achieved 18.5% year-on-year increase; manufacturing investment achieved 30.9% year-on-year increase. These economic indicators fully demonstrate the vitality and potential of Hangzhou’s manufacturing industry. Hangzhou’s manufacturing is gaining speed in the context of global economic downturn and covid-19 pandemic.
Traditional manufacturing in Hangzhou is bursting with vitality through digital empowerment. Data shows that 17 traditional manufacturing industries have an average of 9.7% year-on-year growth in GVA in the first 10 months of 2021. Smart factory is helping manufacturers to improve efficiency and product quality to a great extent.
Apart from the reform and upgrade of traditional industry, Hangzhou is also cultivating emerging industries at a fast pace, promoting industrial structure optimization to create new engine for growth. This year marks the sixth year of increases in percentage of high-tech industry, equipment manufacturing industry and strategic emerging industries among industrial enterprises above designated size in a row.
Through a series of measures to revitalize the existing land, Hangzhou has made more high-quality land for the manufacturing industry, development quality and efficiency have been steadily improved.
Hangzhou has seen solid contributions from manufacturing industry for its fast and steady economic development.