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Zhejiang Province Reports Double-Digit Economic Growth
The economy of East China's Zhejiang province grew by 10.5 percent in the first half of this year, with gross domestic product reaching 313.6 billion yuan, the provincial government announced Wednesday.
Wu Yongge, director of the Provincial Bureau of Statistics, said the fast economic growth was attributable to sharp increases in investment, consumption and exports.
During the past six months, investment in fixed assets totaled 97.7 billion yuan, an increase of 22.5 percent over the same period of last year, said the director.
The total volume of retail sales grew by 11.1 percent to 123.6 billion yuan while exports totaled 10.07 billion U.S. dollars worth, up 21.8 percent.
The province approved 1,064 overseas-funded companies with their contracted investment totaling 2.24 billion U.S. dollars, up 100.4 percent, said Wu.
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