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Zhoushan sees GDP up 10.6% in Q1

Updated : 2022-04-28 (chinadaily.com.cn)

长白修造船基地 李世浩.jpg

A shipbuilding base in Zhoushan. [Photo by Li Shihao for chinadaily.com.cn]

The GDP of Zhoushan in East China's Zhejiang province grew 10.9 percent year-on-year in the first quarter of 2022 to reach 44.09 billion yuan ($6.72 billion), according to the municipal statistical bureau.

The increase placed the city in the first place around the province.

The added value of the city's industries above designated size in the first quarter was 18.96 billion yuan, up 25.6 percent on a yearly basis, 15.7 percentage points higher than provincial average.

Zhoushan invested 23.63 billion yuan in fixed assets in the first three months of the year, a year-on-year increase of 13.6 percent while the total retail sales of consumer goods in the city expanded by 7.1 percent year-on-year to 12.92 billion yuan during the same period, 1.6 percentage points higher than provincial average.

The general public budget revenue in the city reached 5.85 billion yuan, a year-on-year increase of 6.5 percent while its general public budget expenditure grew by 22.6 percent year-on-year to 9.93 billion yuan.

Zhoushan recorded 72.39 billion yuan in foreign trade in the first quarter, an increase of 34.7 percent year-on-year. The city's imports increased by 44.2 percent to 48.43 billion yuan, 29.3 percentage points higher than the provincial average.

From January to March, the actual utilization of foreign capital in the Zhoushan area of the China (Zhejiang) Pilot Free Trade Zone reached $160 million yuan, a year-on-year increase of 47.7 percent and the area had additional 1,265 businesses, including 381 oil product companies.