Since the reform and opening up, Zhejiang has found a development path with Zhejiang characteristics and in line with Zhejiang’s reality in the process of developing a socialist market economy. The province's economy has developed rapidly, its main economic indicators have maintained a leading position in the country, and it has become one of the provinces with the fastest economic growth and the most vitality in the country. In 2002, the GDP was 767 billion yuan, an increase of 12.3% over the previous year, 4.3 percentage points higher than the national average growth rate, and the per capita GDP reached 16,570 yuan. Total fiscal revenue and total local fiscal revenue were 116.7 billion yuan and 56.7 billion yuan respectively. Its GDP, per capita GDP and total fiscal revenue all rank fourth in the country.
Industrial Structure
At present, the ratio of primary, secondary and tertiary industries in Zhejiang is 8.8:51.2:40.0, and the ratio of food crops to cash crops is 54:46. The industrial structure is dominated by light industry, and the output value of light industry accounts for 62% of the total industrial output value. A considerable part of the heavy industry also belongs to small metal, mechanical and electrical light industry and fine chemical industry. Labor-intensive industries have strong market competitiveness, and 24 of the province's 36 industrial industries are labor-intensive. There are a large number of small and medium-sized enterprises, accounting for more than 99.6% of all enterprises. The comprehensive index of industrial economic benefits basically remains between 3rd and 5th among all provinces (cities, districts) across the country. Agriculture and rural economy have developed steadily while developing efficient agriculture and implementing strategic structural adjustments.
Zhejiang’s textile and mechanical and electrical products have strong competitiveness in the international market. The profits of seven industries, including textiles, clothing, fur and feather products, cultural, educational and sporting goods manufacturing, petroleum processing and coking, chemical fiber manufacturing and general machinery, account for more than 1/5 of the profits of the same industry in China. A number of well-known enterprises such as Wahaha Group Company, Wanxiang Group Company, Zhejiang Naais Chemical Co., Ltd., and other well-known enterprises have emerged with high product market coverage, strong competitiveness, and leading positions in the same industry across the country. A group of "small giant" enterprises that are "small but refined, small but special, small but excellent".
Ownership structure
Zhejiang takes public ownership as the main body, and various ownership economies develop simultaneously. There are 991 state-owned and state-controlled enterprises. The control, influence and competitiveness of the state-owned economy are constantly increasing. State-owned assets are further concentrated in key areas and key industries. In the province's electricity, communications, tap water, gas supply and other industries, state-owned and The proportion of state-controlled industries exceeds 80%, the proportion of capital-intensive basic raw material industries such as chemistry and metallurgy exceeds 50%, and the proportion of emerging industries with high technological content such as electronics and medicine exceeds 40%. State-owned enterprises also create conditions for the development of individual and private economies through the diffusion of products, technologies and equipment.
Zhejiang’s private economy is relatively developed. Zhejiang is one of the earliest provinces in the country to develop township and village enterprises. The overall development level of township and village enterprises in the province has ranked first in China. In recent years, non-state-owned investment has accounted for more than half of the total social investment. By the end of 2002, there were 247,300 private enterprises in the country, with a total output value of 742.674 billion yuan. It ranks first in China in five indicators including the total output value of the private economy, total sales, retail sales of consumer goods, foreign exchange earnings from exports, and the number of top 500 private enterprises in the country. Among the top 500 private enterprises in the country in terms of comprehensive strength, Zhejiang has 170, ranking first in China; in the list of China's top ten private enterprises, Zhejiang accounts for half, and 4 companies including Jinyi, Jintian, Bondi, and Feiyue are among the top 5. . Among the registered trademarks of private enterprises in the province, 222 have been recognized as provincial famous trademarks, and 13 trademarks, including Chuanhua, Busen, Kangnai, Chint and Delixi, have been awarded China's famous trademarks.
Economy with regional characteristics
Zhejiang has a developed economy with regional characteristics. The province's regional block economy has involved more than a dozen fields such as manufacturing, processing, construction, transportation, breeding, textiles, industry and trade, and services, more than 100 industrial industries, and more than 30 agricultural and sideline product processing industries. According to statistics, the total industrial output value of Zhejiang Province's regional characteristic economies accounts for approximately 49% of the province's total industrial output value. Yueqing low-voltage electrical appliances, Haining leather clothing, Yongkang hardware products, Zhuji Pearl and Datang socks industry, Pujiang crystal handicrafts, etc. enjoy a high reputation throughout the country. Various industrial parks such as characteristic industrial parks are effective carriers for promoting regional economic development in Zhejiang. Zhejiang currently has 820 industrial parks at or above the county level. The cumulative investment in infrastructure of various industrial parks, mainly characteristic industrial parks, has reached 55 billion yuan, and about 10,000 companies have settled in them.
Professional market
Zhejiang’s professional market is prosperous. The commodity trading markets are large in number, large in scale, strong in comprehensive capabilities, and wide in scope. The scope of commodity trading basically covers all areas of life and production materials, forming a commodity trading network centered on the consumer goods market, characterized by professional markets, followed by the market for production materials, and supported by other factor markets. In 2002, there were 4,193 commodity trading markets in the province. The annual commodity market turnover was 499.7 billion yuan, with 457 markets with annual turnover exceeding 100 million yuan, 77 markets with annual turnover exceeding 1 billion yuan, and 6 markets exceeding 10 billion yuan. It is known as China's "big market province". The three indicators of market turnover, number of markets exceeding 100 million yuan, and single market turnover have ranked first in China for many years in a row. Yiwu China Commodity City and Shaoxing China Textile City are the largest professional markets in the country. In 2002, Yiwu's small commodity market turnover reached 22.998 billion yuan, of which export volume was 10.5 billion yuan. The market turnover and export volume once again ranked first among all markets in China. Zhejiang people have also established a number of "Zhejiang Malls", "Wenzhou Street" and other markets across the country, as well as a number of markets in Russia, South Africa, the Middle East, South America and other places.
Foreign-related services
Zhejiang is one of the coastal provinces in China that is more open to the outside world and also has a good investment environment. Zhejiang attaches great importance to foreign-related management and foreign-related services, timely revised and improved foreign-related economic regulations and policies, and accelerated integration with WTO rules. We have introduced several regulations to improve the foreign investment environment and preferential measures to encourage foreign direct investment, established and improved the public notification system, working day system, and implemented online approval and other working systems. Further delegate the authority to review and approve foreign investment projects, improve the review and approval methods, simplify the review and approval procedures, standardize the review and approval behavior, and facilitate the inquiry and supervision of applicants. Provide and apply for foreign expert certificates for foreign experts coming to Zhejiang to provide protection for their work, residence, and entry and exit in Zhejiang. Customs, commodity inspection, finance, taxation and other departments administer in accordance with the law and provide convenient services to investors. All regions have generally established foreign cooperation project databases, held large-scale foreign investment promotion activities, and further increased investment promotion efforts. The enterprise credit inquiry system started running.
Transportation, Posts and Telecommunications
With the provincial capital Hangzhou as the hub, Shanghai-Hangzhou (Shanghai-Hangzhou), Zhejiang-Ganxi (Zhejiang-Jiangxi), Xiaoyong (Xiaoshan-Ningbo), Xuanhang (Hangzhou - Xuancheng), Jinwen (Jinhua-Wenzhou) and other lines constitute Zhejiang's railway transportation network. By the end of 2002, Zhejiang had 1,207 kilometers of railways in operation, of which 593 kilometers were double tracks. Significant progress has been made in the preliminary work of major projects such as the second phase of the Jinhua-Lishui-Wenzhou Expressway, the Hangzhou Bay Cross-sea Bridge, the Wenzhou-Fuzhou Railway and the Ningbo-Taizhou-Wenzhou Railway. There are currently 6 national highways and 66 provincial highways with a total mileage of 45,000 kilometers. Among them, there are 1,307 kilometers of expressways, and a "four-hour highway traffic circle" from the provincial capital Hangzhou to various mainland cities has been completed. There are 7 airports in Hangzhou, Ningbo, Wenzhou, Zhoushan, Yiwu, Taizhou and Quzhou, with 185 domestic and international routes. The first phase of Hangzhou Xiaoshan International Airport, with an annual throughput capacity of 14.5 million passengers, has been completed and put into use.
Zhejiang has 240 kilometers of coastline that can be built with ports, and has formed a port group consisting of five major ports: Ningbo, Wenzhou, Zhoushan, Zhapu and Haimen. Ningbo Port is a comprehensive 100-million-ton port with 35 deep-water berths over 10,000 tons, including fifth- and sixth-generation international container terminals and a 200,000-ton ore terminal (which can also handle 300,000-ton ships). , 250,000-ton crude oil terminal and 80,000-ton liquid chemical terminal, with 73 container routes, forming a global shipping coverage system except Australia. In 2002, Ningbo Port completed a throughput of 153.98 million tons, continuing to maintain the second place along the mainland's coast; it completed a container throughput of 1.859 million tons TEU, a year-on-year increase of 53.3%, ranking first among major coastal ports in mainland China for four years.
Zhejiang has basically built a fast mail network that comprehensively utilizes various means of transportation such as aviation, railways, and highways. It has established four air transportation bureaus in Hangzhou, Ningbo, Wenzhou, and Jinhua, as well as the Hangzhou International Mail Exchange. stand. By the end of 2002, the province's total telephone exchange capacity reached 18.8 million, the long-distance telephone exchange capacity reached 362,000 terminals, and the mobile telephone exchange capacity reached 18.88 million households. All cities above the county level have mobile phones. Information applications such as data communications, voice information services, and telephone intelligent services lead the country.
The public data communication and conference video phone coverage ranks first among all provinces (cities, districts) in China.
Development Zones
Zhejiang Province has 8 national-level development zones and 54 provincial-level economic development zones, with a cumulative infrastructure investment of 54.98 billion yuan and a developed area of ??49.15 billion yuan. square kilometers; the development zone has become a hot spot for investment by Chinese and foreign businessmen. In 2002, the total actual utilization of foreign investment in various development zones was US$1.83 billion, accounting for 58% of the province's total. The industrial structure in the area is becoming increasingly rational. In addition to industrial projects such as manufacturing, primary and tertiary industry projects such as agriculture, transportation, postal and telecommunications industries have increased significantly.
International Economic and Trade Exchanges
Zhejiang Province is one of the earliest provinces in China to implement opening up to the outside world. By the end of 2002, Zhejiang had established direct economic and trade relations with 216 countries and regions in the world. Zhejiang actively implements the diversification of foreign trade business entities, diversification of export markets, export products and diversification of trade methods. A pattern has been initially formed in which foreign trade professional companies, self-operated import and export production enterprises, foreign-invested enterprises, etc. jointly develop the international market. In 2002, the province's import and export volume reached US$42 billion, of which export volume reached US$29.4 billion, an increase of 28% over the previous year. The structure of export commodities has been continuously adjusted and optimized, and mechanical and electrical products have become Zhejiang's largest export product.
Zhejiang insists on equal emphasis on expanding scale and improving quality, and has reached a new level in utilizing foreign capital. In 2002, the province approved 3,364 new foreign-invested enterprises, with contracted foreign capital utilization of US$6.79 billion and actual utilization of foreign capital of US$3.16 billion. Among them, Jiaxing, Huzhou, Hangzhou, and Ningbo accounted for 77% and 59% of the total contracted foreign investment and actual utilized foreign investment in the province respectively. The structure of utilizing foreign capital has been gradually optimized, and the number, scale and proportion of high-tech projects in large projects have increased. By the end of 2002, the province had accumulated the first batch of 24,013 foreign-invested enterprises, with a total investment of US$65.47 billion, a contracted foreign capital of US$36.27 billion, and an actual utilized foreign capital of US$16.87 billion. 54 of the world's top 500 companies have invested in 115 projects in Zhejiang.
Zhejiang implements the "going global" strategy, gives full play to the advantages of the processing industry, promotes overseas manufacturing investment, and carries out overseas processing trade; promotes professional commodity markets to set up sub-markets overseas and carry out cross-border marketing. In 2002, the province approved 226 new overseas investment projects, with Chinese investment amounting to US$51.32 million, a year-on-year increase of 57% and 53% respectively. The turnover of foreign contracted projects and labor cooperation was US$1.05 billion, a year-on-year increase of 56.7%, ranking third in China. By the end of 2002, Zhejiang had established 1,081 overseas enterprises in 104 countries and regions.