Hangzhou released its 2025 Government Work Report at the fifth session of the 14th Municipal People's Congress on May 22, highlighting major achievements in 2024 and charting a course for continued progress.

In 2024, Hangzhou entered a new era post-Asian Games, with its GDP reaching 2.186 trillion yuan ($303.8 billion), up 4.7 percent and ranking eighth nationally. The city maintained its lead in budgetary revenue among sub-provincial cities for the 15th year and became China's fourth city with over 1 million enterprises.

Innovation remained a hallmark. Hangzhou launched its first national lab and 15 new key labs, with 34 unicorns now based in the city. For the third year, it ranked 14th globally in innovation clusters and continued to attract over 350,000 young talents annually.

The city's global influence grew with events like the Global Digital Trade Expo and Global Mayors Dialogue. It rose to 65th in the World City Index and advanced initiatives like digital free trade zones and overseas investment.

On the economic front, Hangzhou secured over 83.8 billion yuan in central funding and introduced 10 new listed companies. Exports surged 11.5 percent to 594.95 billion yuan. Foreign direct investment hit $6.54 billion, ranking 3rd nationally.

Efforts in science and tech led to breakthroughs in AI, computing infrastructure, and industrial upgrades. Hangzhou also advanced its low-altitude economy, humanoid robotics, and synthetic biology with dedicated policies.

Reform efforts included streamlined services, business-friendly platforms, and State-owned enterprise restructuring, while digital governance and IP protection gained global recognition.

Urban upgrades continued with 66 major city projects, new parks, expanded metro lines, and international flight routes. Environmental achievements included improved air and water quality and better waste management.

Hangzhou will remain committed to deepening reforms, driving innovation, and enhancing international cooperation to build a modern socialist city that's green, smart, and globally connected.