Strong start for Wenzhou with 6.1% GDP increase in Q1

2024-05-09 10:41:10 source: ezhejiang.gov.cn


Wenzhou's economy kicked off the year strong, with its GDP growing 6.1 percent to 212.52 billion yuan ($29.41 billion) in the first quarter.


The agricultural sector saw a 3.9 percent increase, with notable rises in the outputs of vegetables, fruits, and aquatic products. Industrial performance was particularly robust, with a 10.7 percent growth in value-added among above-designated-size industrial enterprises.


Services, making up over half of Wenzhou's economy, grew by 5 percent, with modern services like IT and transportation leading the charge. The courier service volume notably surpassed 500 million items, a 21.6 percent jump from the previous year.


High-tech and high-end equipment manufacturing industries also saw impressive growth, contributing to the city's high-quality economic development. Investments in high-tech industries soared by 42.6 percent, reflecting Wenzhou's commitment to innovation.


The city has made significant strides in fostering a high-tech ecosystem, attracting over 200,000 talents annually and reaching new heights with over 4,300 high-tech enterprises and 15,600 provincial technology-based SMEs.


Private enterprise innovation is thriving under supportive policies, with R&D investments consistently growing by over 10 percent over the past five years.


Editor: Zhong Xinyi

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Wenzhou's economy kicked off the year strong, with its GDP growing 6.1 percent to 212.52 billion yuan ($29.41 billion) in the first quarter.


The agricultural sector saw a 3.9 percent increase, with notable rises in the outputs of vegetables, fruits, and aquatic products. Industrial performance was particularly robust, with a 10.7 percent growth in value-added among above-designated-size industrial enterprises.


Services, making up over half of Wenzhou's economy, grew by 5 percent, with modern services like IT and transportation leading the charge. The courier service volume notably surpassed 500 million items, a 21.6 percent jump from the previous year.


High-tech and high-end equipment manufacturing industries also saw impressive growth, contributing to the city's high-quality economic development. Investments in high-tech industries soared by 42.6 percent, reflecting Wenzhou's commitment to innovation.


The city has made significant strides in fostering a high-tech ecosystem, attracting over 200,000 talents annually and reaching new heights with over 4,300 high-tech enterprises and 15,600 provincial technology-based SMEs.


Private enterprise innovation is thriving under supportive policies, with R&D investments consistently growing by over 10 percent over the past five years.


Editor: Zhong Xinyi

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