Investing in Zhejiang
Zhejiang is an eastern coastal province of China. Well-known for its entrepreneurial initiative. Also, acknowledged for a strong concentration of IT and High-tech companies as well as a strong presence of non-state-owned companies. The Province of Zhejiang is an important production and logistics hub providing a key manufacturing center for the automotive, textile, clothing, and machinery manufacturing sectors. Hangzhou is the capital and the largest city in Zhejiang. With a population of 58.5 million inhabitants covering a total surface area of 101,800 km2, Zhejiang province ranks the 10th most populous among China.
Zhejiang province accomplished 40,191 foreign investment companies with total exports of USD 334.6 billion and total imports of USD 112.6 billion. In addition to an average urban salary of USD 13,433.
In terms of GDP, the Province of Zhejiang ranked fourth in China after Shandong province, reaching USD 995 billion in 2020 and USD 896 billion in 2019 with a GDP per capita of USD 15,311. Along with GDP growth of + 6.8% in 2019 and +3.6% in 2020.
Main Economic Centers (GDP) in Zhejiang
• Hangzhou (USD 221 billion)
• Ningbo (USD 172 billion)
• Wenzhou (USD 95 billion)
• Shaoxing (USD 83 billion)
• Jiaxing (USD 77 billion)
Main Sectors in Zhejiang
• Industrial machinery
Main Industrial Areas in Zhejiang
• Zhejiang Pilot Free Trade Zone
• Hangzhou Economic and Technological Development Zone
• Xiaoshan Economic and Technological Development Zone
• Ningbo Economic and Technological Development Zone
• Wenzhou Economic and Technological Development Zone
• Jiaxing Economic and Technological Development Zone
• Pinghu Economic and Technological Development Zone
• Yiwu Economic and Technological Development Zone
• Hangzhou High-tech Industrial Development Zone
• Xiaoshan Linjiang High-tech Industrial Development Zone
• Ningbo High-tech Industrial Development Zone
• Wenzhou High-tech Industrial Development Zone
• Zhoushan New Area
(Zhejiang) Pilot Free Trade Zone
Established in 2017 (expanded in 2020) known as the Global center for trade of commodities.
With a purpose to promote the integration and the development of the Yangtze River Delta and the allocation base for commodities, oil and gas, and build an international shipping and logistics hub.
The target industries are advanced manufacturing industries, trade services, logistics, digital economy, commodities, and energy resources. Besides, the functional areas include Zhoushan Offshore area (79.0 sq. km), Zhoushan North area (15.6 sq. km), Zhoushan South area (25.3 sq. km), Ningbo area (46.0 sq. km), Hangzhou area (37.5 sq. km), and Jinyi area (36.0 sq. km).