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Hangzhou Economy

 

Hangzhou is the provincial capital and also, the center of politics, economy and culture of Zhejiang province. It is not only the famous tourist place, but also an industrial city with complete kinds and major in light industry, which is considered as the most important manufacturing base and logistics hub. Light industrial economy of Hangzhou ranks tops in Country.

In Hangzhou, there is the biggest flax textile factory in China. The silk industry has a very long history; the output and the quality of the products are in the first places in China. There are 7000 kinds of machines, and some of them are entered the international market. The agricultural sideline occupations are developed too.

The economy of Hangzhou is well developed. Since the implementation of the policy of reform and opening up, Hangzhou has made significant progress in developing its foreign economic relations and trade, which plays an important part in Hangzhou's economy. In 2001, the GDP of the whole city amounts to RMB 156.8 billion which ranks the second among all of the provincial capitals except for Guangzhou. By many years of development, pillar industries, with solid foundation and powerful force, which have been identified by the city includes: new medicine, information, large-sized machinery and complete sets and equipment, auto components, household electrical appliances, electronics and telecommunication apparatus, fine chemicals, chemical fiber and food
processing. Moreover, the agricultural foundation of Hangzhou is rather solid-- fertile soil and rich natural resources, a temperate climate and abundant rainfall. Therefore, the development of production of agricultural sideline products takes on a promising outlook.

Hangzhou is equipped with a sound infrastructure system. The power and water supply can unquestionably meet the demands of the economic construction and development and meanwhile, people's daily lives. As an important hub of communications, Hangzhou is equipped with a complete system of land, water and air transportation. Hangzhou has also seen a rapid development of its telecommunications. In every corner of the city, people can reach 200 odd countries and regions through IDD or fax machines, which has been in line with the international communicative network.

At present, the city government is making endeavor to make Hangzhou a city of powerful economic strength, diversified culture and modernized world-renowned tourist site.

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