Zhejiang's GDP Tops $80 Billion in 2001

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Last updated at: (Beijing Time) Sunday, January 27, 2002

Zhejiang's GDP Tops $80 Billion in 2001

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East China's Zhejiang Province registered 670 billion yuan (about 80.72 billion U.S. dollars) in its gross domestic product in 2001, a 10.5-percent rise year-on-year and 3.2 percentage points higher than the national average.

Despite the sluggish growth of global trade, Zhejiang's importsand exports rose by 17.8 percent and 18.2 percent, respectively, to 32.8 billion U.S. dollars and 22.98 billion U.S. dollars.

As a large number of major construction projects were launched in 2001, Zhejiang's fixed asset investment totaled 276.9 billion yuan, up 22.1 percent on an annual basis.

The province approved the establishment of 2,310 foreign-fundedenterprises last year, which brought 5.02 billion U.S. dollars in contractual investment, nearly a two-fold increase over the previous year.

Thanks to the overall economic growth, the per capita spending of Zhejiang's urban and rural residents was up by 13.8 percent and7.3 percent, respectively, to 7,952 yuan and 3,479 yuan. The totalretail sales in the province came to 255.5 billion yuan, an 11.2-percent rise over 2000.

Zhejiang, an economic powerhouse on the east coast, has posted the fastest economic growth rate since China's reform and opening up started in the late 1970s.

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