In 2024, Hangzhou's economic performance was impressive. The city's GDP reached 2,186 billion yuan, up 4.7 percent year over year.

The service industry becomes a main contributor for the economic development of Hangzhou. The added value accounts for 73 percent. The retail sales amount is up to 788.4 billion yuan. The total export volume grows by 11.5 percent, and the export volume of the private enterprises occupies 75.2 percent.

The manufacturing industry, especially the automobile industry, has experienced a significant increase. The industry maintains stable growth and accelerates the development of new, high-quality productive forces.

The resident income rises sharply. Urban residents' per capita disposable income is 83,356 yuan, and rural residents' per capita disposable income is more than 50,000 yuan for the first time.