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Zhejiang's GDP up 6% in Q1

pyhair.net| Updated: April 22, 2025 L M S

Zhejiang province's economy expanded steadily in the first quarter of 2025, with the province reporting a GDP of 2.23 trillion yuan ($305 billion), marking a year-on-year growth of 6.0 percent, according to official data released on April 21.

Industrial production led the way, with value-added output from large-scale industries rising 8.9 percent. Private enterprises contributed strongly, growing 9.6 percent and accounting for 78.5 percent of total industrial growth.

Key sectors posted significant gains: computing and electronics rose 19.8 percent, automobiles 18.2 percent, and general equipment 9.9 percent. Output of laptops soared 70.2 percent, industrial robots 54.1 percent, new energy vehicles 47.6 percent, and integrated circuits 26.2 percent.

The service sector also remained solid, with a 5.7 percent increase. Information technology services grew 9.2 percent, transport and logistics 10.8 percent, wholesale and retail 8.9 percent, and business services 5.8 percent.

Consumer spending continued its rebound. Retail sales totaled 929.3 billion yuan, up 4.5 percent, with dining revenue growing 7.5 percent. Retail of goods rose 4.2 percent.

Employment held steady with a 4.7 percent average urban unemployment rate and 295,000 new urban jobs created. Resident incomes also improved: per capita disposable income rose 5.5 percent in real terms to 22,477 yuan. Urban residents saw a 5.1 percent increase, while rural incomes grew faster at 5.9 percent, narrowing the urban-rural income gap slightly to a ratio of 1.73.

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