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Zhoushan's GDP surges 18.1% in Q1

Updated : 2021-04-27 (chinadaily.com.cn)

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Zhoushan's economy grew by 18.1 percent year-on-year in the first quarter of the year. [Photo/WeChat account: china-zjftz]

Zhoushan's economy grew 18.1 percent year-on-year in the first quarter of the year due to last year's low comparison base and a steady momentum of recovery, according to the local statistics bureau.

The figure represents a 30.3 percent growth compared with the level in the same period in 2019, as well as a two-year average growth of 14.1 percent, the bureau said.

Meanwhile, the year-on-year increase rates of industries, investment, and imports and exports in Zhoushan exceeded 20 percent during the same period.

As of the end of March, the actual use of foreign capital by the city totaled $176.4 million and 16 projects worth more than 100 million yuan ($15.41 million) have started construction.

Zhoushan traded 138.4 billion yuan in oil products, processed 64.12 million metric tons of crude oil, offered 1.18 million tons of bonded bunker oil, and reached 56.7 billion yuan in cross-border renminbi settlement from January to March.

The city received more than 2.21 million tourists during the same period, a year-on-year increase of 157.1 percent, and generated 2.82 billion yuan from tourism, a year-on-year increase of 155.2 percent.