Zhejiang

The fourth largest economy and the third largest exporter in China, Zhejiang Province leads all provinces in rankings of GDP per capita in both urban and rural areas. As a result of the provincial government's business-friendly policies, this region witnessed the success of thousands of small businesses. Compared to the rest of China, people in Zhejiang are the most entrepreneurial, which has also aided the province in achieving a small urban to rural income gap.

An important maker of electronics and other equipment, Zhejiang's manufacturers had a significant competitive advantage: cheap prices, low labor costs and resource costs and high volumes. However, as other provinces become cheaper, Zhejiang's growth is shrinking and structural reform is needed. Additionally, high incomes and limited investment choices have resulted in high property costs.

Zhejiang's GDP grew 8% to RMB3.46 trillion in 2012.

 

Zhejiang Quick Facts
  • Area
    101,800 km2
  • Population:
    54426900
  • Population density:
    464 people/km2
  • Gross domestic product:
    2772.2 billion RMB
  • GDP per capita:
    51711 RMB
  • GDP growth:
    11.90%
  • Fixed Asset Investment:
    1237.6 billion RMB
  • Utilized Foreign Direct Investment:
    11.0 billion US$
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Top 5 Zhejiang Companies
    • Hik Vision (SHE: 002415) is a leading surveillance and monitoring devices solutions supplier. It posted RMB3.61 billion in revenues and RMB1.05 billion in net profits for 2010.
    • Zhejiang China Commodities City Group Co (SHA: 600415) is China's largest operator of small articles trading platform. It posted RMB3.17 billion in revenues and RMB808.9 million in net profits for 2010.
    • Bank of Ningbo Co (SHE: 002142) is a city level lender based in Ningbo, an economic powerhouse in Zhejiang. It posted RMB5.91 billion in revenues and RMB2.32 billion in net profits for 2010.
    • Xinhu Zhongbao Co (SHA: 600208) is a property developer that also runs education, hospitality and finance subsidiaries. It posted RMB8.14 billion in revenues and RMB1.56 billion in net profits for 2010.
    • Youngor Group Co (SHA: 600177) is one of China's leading garment producers that also develops real estate. It posted RMB14.51 billion in revenues and RMB2.67 billion in net profits for 2010.

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Zhejiang Economic and Technological Development Zones

    Huzhou Economic Development Zone
    Dinghai Industrial Park
    Hangzhou Economic & Technological Developing Area
    Hangzhou New & Hi-Tech Industrial Development Zone
    Hangzhou Export Processing Zone
    Hangzhou Zhijiang National Tourist Holiday Resort
    Jiaxing Export Processing Zone
    Ningbo Economic and Technical Development Zone
    Ningbo Daxie Island Development Zone
    Ningbo Free Trade Zone
    Ningbo Export Processing Zone
    Quzhou Industrial Park
    Shenjia Economic and Technological Development Zone
    Wenzhou Economic and Technological Development Zone
    Xiaoshan Economic and Technological Development Zone
    Zhejiang Quzhou Hi-Tech Park
    Zhejiang Zhoushan Economic Development Zone
    Zhejiang Donggang Economic Development Zone


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