The technology trade volume in Hangzhou in the Jan-July period was valued at 60.9 billion yuan ($8.68 billion), up 82 percent year-on-year, local media reported on Sept 19.

Local authorities said that the volume of technology tradings an important indicator of technological innovation.

"Companies were the major drivers of the growth," said an official at the municipal science and technology bureau.

According to the official, Hangzhou companies signed 6,676 contracts to export their technologies in 2021. This accounted for about 88 percent of Hangzhou's technology trading volume.

From January to July, digital solutions provider H3C exported technologies worth 9.8 billion yuan, the highest in Hangzhou. It was followed by carmaker Zhejiang Geely Holding Group which exported technologies worth 1.2 billion yuan.