Hangzhou has strong momentum of high-quality economic development in 2024.

From January to August, the emerging industries grow rapidly. The added value of high-tech manufacturing industry, equipment manufacturing industry and strategic emerging industry is on the increase. The service industry continues to prosper, the operating income realizes the year-on-year growth of 6.7 percent, and the productive service industry projects are implemented one after another.

In terms of foreign trade, Hangzhou overcomes challenges and maintains a high growth rate. The total import & export volume of goods increases by 5.8 percent. The growth of the export to the USA, Europe and other regions exceeds 10 percent. The export volume of private enterprises has an increase of 8.1 percent.

Some local enterprises in Hangzhou continuously have developed overseas markets, and the sales amount of star products have increased significantly. They establish the long-term strategic cooperation relationship with famous foreign brands.