Revenue in Zhejiang's general public budget reached CNY 164.998 billion, representing 22.2 % of the budgeted figure and an increase of 2.8% over 2019. The tax revenue totaled CNY 145.349 billion, rising by 4.2%.

According to the Zhejiang provincial Finance Department, the reason for the revenue increase is the corporate income tax of companies in information technology and the service industry as well as Information transmission software.

Shopping, learning, and entertaining online and working from home have contributed to the massive tax revenue of the online consumption of Zhejiang.

Many Zhejiang-based listed companies have seen a sharp increase in business in the first quarter of the year.

Among the 180 listed companies, there are 77 companies expected to a growth in business performance in the first quarter of this year while 28 others have increased by over 100%.

The epidemic-related sectors are prevailing among investors in addition to the IT sector.