The growth rate of industries above a designated size in Zhoushan, East China's Zhejiang province, was ranked first in the province in 2021 with a year-on-year increase of 46.7 percent.

The added value of industries above a designated size in the city grew 18.8 percent year-on-year, ranking second in Zhejiang.

Over the past year, the industrial economy in Zhoushan maintained rapid development.

Zhoushan-based Zhejiang Petroleum & Chemical Co Ltd became the first company in the city to generate 100 billion yuan ($15.79 billion) in output value and Zhejiang Liming Intelligent Manufacturing Co Ltd became the city's second private company to be listed on the main board market.

Due to technological improvement and innovation in recent years, Zhoushan has seen higher-quality development of its industrial economy and the industrial structure has become more intelligent and eco-friendly.

In 2021, Zhoushan invested 4.57 billion yuan in technological improvement and innovation of industrial companies above a designated size, a year-on-year increase of 38.8 percent.

In addition to the pillar petrochemical industry, the electronics, auto parts manufacturing and machine building industries in the city also achieved double-digit growth last year with respective year-on-year increases of 22.8 percent, 19.5 percent and 17.4 percent.

In 2022, Zhoushan will ramp up efforts to develop strategic emerging industries and future industries, said a staff member from the Zhoushan municipal bureau of economy and information technology.