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Business

The following is information on Hangzhou's economy & export. You will know more about Hangzhou.

Economic Trends

Main Branches of Industry

Ownership Structure

International Trade

Economic Trends

In 2006, the industrial value-added of the city totaled 157.148 billion yuan, up by 14.6 percent over the previous year, which accounted for 45.7 percent of Hangzhou GDP. The total output value of the industrial enterprises above designated size was 683.991 billion yuan, up by 25.7 percent and the sales value of them achieved 672.947 billion yuan, up by 25.9 percent. Of the industrial enterprises above designated size, the output value of new products achieved 59.014 billion yuan, up by 39.5 percent and the total output value of high-tech industry reached 116.532 billion yuan, up by 45.6 percent. The resource consumption dropped slightly. The power consumption of the total industry in the city increased 14.2 percent compared with the previous year, which decreased 0.4 percentage points than the growing rate of the industrial value-added in the city.

The sales income of the industrial enterprises above designated size achieved 666.836 billion yuan, up by 26.8 percent over the previous year and the amount of their profits and taxes were 56.328 billion yuan, up by 23.1 percent. Of the total, the profits and taxes of high-tech industry numbered 6.897 billion yuan, up by 49.9 percent. The production and marketing rate of industrial products reached 98.39 percent, and increased 0.17 percentage points compared with the previous year.

The total value-added of the construction sector achieved 17.05 billion yuan, up by 3.1 percent over the previous year. The annual construction value of construction enterprises was 126.19 billion yuan, up by 16.6 percent. The floor space under construction was 133.26 million square meters and the completed floor space was 47.8 million square meters.

Main Branches of Industry

The value-added of the primary industry was 15.492 billion yuan; that of the secondary industry was 174.198 billion yuan; and that of the tertiary industry was 154.408 billion yuan, up by 3.9 percent, 13.3 percent and 16.7 percent respectively. The proportion of the three industries was adjusted from 5.0 percent, 50.9 percent and 44.1 percent of the previous year into 4.5 percent, 50.6 percent and 44.9 percent respectively. The GDP per capita calculated by people through household register was 51,871 yuan, up by 13 percent. According to the average exchange rate published by the Government in 2006, the GDP per captia calculated by the people through household register reached 6,505 US dollar.

Ownership Structure

In 2006, in GDP of Hangzhou, the proportion of the public economic decreased from 37.1 percent of the previous year to 35.9 percent. The non-public economic accounted for 64.1 percent of HangzhouˇŻs GDP, of which the private and individual economic sectors accounted for 52.5 percent, increased 1.2 percentage points and 0.9 percentage points compared with as the previous year respectively. The civilian economic accounted for more than 50 percent in commerce, industry and investment sectors. The tax revenue of civilian economic totaled 21.899 billion yuan, which accounted for 35.1 percent of the total fiscal revenue. In the industrial enterprises above designated sizes, the sales value and the output value of the enterprises invested by foreign or Hong kong, Macao and Taiwan reached 232.807 billion yuan, up by 35.1 percent over the previous year as well as increased 9.2 percentage points than the average level of the whole city.

International Trade

The foreign trade export continued to keep rapid growth. The annual value of import and export totaled 38.909 billion US dollars, up by 30.3 percent over the previous year. Of the total, the total value of import reached 12.681 billion US dollars, up by 26 percent and that of export amounted to 26.228 billion US dollars, up by 32.4 percent. The structure of export products had been further perfected. The annual export value of High-Tech products reached 6.794 billion yuan, up by 84.6 percent and that of electromechanical products was 12.069 billion US dollars, up by 51.0 percent, which accounted for 25.9 percent and 46.0 percent of total export value compared with 18.6 percent and 40.4 percent of the previous year respectively. The export to USA, EU and ASEAN increased 51.3 percent, 23.5 percent and 40.1 percent respectively.

By the end of 2006, the number of establishment enterprises (or institutions) with foreign investment accumulated 61, up by 19.6 percent over the previous year. The contractual value of the foreign investment reached 59.35 million US dollars and of which the value of non-trading investment was 23.15 million US dollars, up by 24.2 percent and 26.8 percent respectively. The accomplished business revenue through contracted overseas engineering projects and the business revenue through overseas labor contracts amounted to 331 million US dollars, up by 28.2 percent.

There were 747 new foreign direct-funded projects signed in the year. The contractual value of foreign investment totaled 5.38 billion US dollars, up by 34.3 percent over the previous year and the foreign investment actually utilized reached 2.255 billion US dollars, up by 31.7 percent. The quality of utilizing foreign funds was improved. Of the total new established foreign-funded projects, the projects of total contractual investment over 10 million US dollars amounted to 327. The contractual value in these projects totaled 4.535 billion US dollars, sharing 84.3 percent of the total foreign investment. The contractual value of foreign investment in the tertiary industry was 2.584 billion US dollars, up by 36.8 percent and the investment actually utilized was 996 million US dollars, up by 49.7 percent. By the end of 2006, there were 87 enterprises built in Hangzhou funded by 53 companies of the World Top 500 Companies.

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