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Outpacing the nation
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HANGZHOU’S gross domestic product grew 9.5 percent last year to 1.105 trillion yuan (US$161 billion), according to official statistics.
The growth rate is 2.8 and 2.0 percentage points higher than the national and provincial averages of 6.7 percent and 7.5 percent.
The service industry’s share increased 13 percent to 676.83 billion yuan; manufacturing gained 4.7 percent to 397.74 billion yuan; and agriculture edged up 1.9 percent to 30.48 billion yuan.
The IT industry kept up its pace of growth last year, rising 22.8 percent over 2015. E-commerce, mobile Internet, digital content, information services, and cloud computing all expanded 28 percent or more.
The city’s exports totaled 330.78 billion yuan last year despite sluggish demand from overseas markets, up 6.5 percent from 2015. Cross-border e-commerce grew the fastest, reaching US$6.06 billion in exports, up 166.7 percent, and US$2.05 billion in imports, up 72.3 percent.
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