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Wenzhou’s GDP Ranking within Top 30th among Nationwide Cities
【Fonts: Large Medium Small 【Source: Wenzhou·China 【Date: 2020.03.20】

Last year, Wenzhou made outstanding achievements in economy. The data newly released by the Wenzhou Municipal Statistics Bureau shows that based on the accounting of the Zhejiang Provincial Statistics Bureau, Wenzhou achieved a regional GDP of RMB 660.61 billion in 2019, with a year-on-year growth of 8.2% at comparable prices, ranking third in the Zhejiang Province in both GDP and its growth rate. According to the collected economic information published by every city in this country, in 2019, Wenzhou's GDP jumped to the 30th place in the country, up 5 places over the previous year, ranking higher than that of the provincial capitals, such as Shenyang, Changchun and Shijiazhuang; Wenzhou's per capita GDP reached RMB 71,225, exceeding RMB 70,000 for the first time, and calculated by the annual average exchange rate, the per capita GDP is USD 10,325, exceeding USD 10,000 for the first time, a rise of 7.7% in the GDP growth rate at comparable prices, which ranked second in the province. Wenzhou has kept rising in the ranking of per capita GDP in the province for two consecutive years.

According to a source of the Wenzhou Municipal Statistics Bureau, under the firm leadership of the local municipal Party committee and the municipal government, and in the face of the complex situation of aggravated risks and challenges at home and abroad, since last year, Wenzhou has persistently pursued progress while ensuring stability, and focused on its annual work themed " forging ahead in 2019 and striving to complete the tasks of ’1161’”. Specifically, by making full use of policies, fostering growth drivers and increasing high-quality supply, it has vigorously promoted the construction of the Pilot Zones for Promoting Healthy Growth of Private Enterprises & Encouraging Their Employees to Achieve Success, and the Zones for National Independent Innovation Demonstration (briefly referred to as Two Zones), and effectively alleviated the economic downward pressure so that local economy is now under sound development with an upward tendency.

Last year, Wenzhou's GDP growth rate increased by 0.4 percent over the previous year, 2.1 and 1.4 percent higher than the average of national- and provincial-level cities respectively. In the fourth quarter of last year, the city's enterprise prosperity index was 124.88, and the entrepreneur confidence index 125.60. The two indexes rose by 2.37 and 2.61 points on a month-on-month basis respectively, lying within the relatively prosperous range.

It is learned that, driven by a string of effective measures, Wenzhou has achieved not only steady growth in economy but also positive results in quality development, and has accelerated fostering its new economic drivers. In 2019, the added value of the city's high-tech industry, high-end equipment manufacturing and the manufacturing in the digital economy core industries increased by 7.7%, 8.9% and 9.0% respectively, with the added value growth rate higher than that of all industries above designated size. This shows that the economic development models supported by innovation are constantly emerging, which have become a new driving force for Wenzhou's social and economic development, and industrial structure transformation.

With the construction of the "Two Zones" as the main carrier to speed up the high-quality development, Wenzhou focuses the development on private economy, fostering new developing momentum and forming new growth drivers in this sector so as to improve the industrial competitiveness of Wenzhou. As a result, the city’s private economy is enhanced to varied degrees in industry, investment, export, taxation and other aspects. In 2019, the added value of private enterprises among the city's industries above designated size reached RMB 93.92 billion, accounting for 84.7% of that of the total, up 7.7% year-on-year, with the added value growth rate 0.1 percent higher than that of the industries above designated size; the city's private project investment increased by 19.5%, with the investment growth rate 5.8 percent higher than the provincial average and 11.9 percent higher than that of the previous year, ranking third in the province. Last year, the private enterprises’ total export volume in the city was RMB 157.52 billion, accounting for 93.5% of the city’s total export, a year-on-year increase of 32.4%, with the export growth rate 3.0 percent higher than that of the city’s total; the total tax payment of private economic units in the city reached RMB 78.33 billion, a rise of 7.7% YoY, with the taxation growth rate 0.9 percent higher than that of the entire city. Their tax payment accounted for   89.0% of the city's tax revenue, 0.8 percent higher than that of the previous year.

According to an analysis, despite the negative influence of the epidemic on economy, the related departments in each part in Wenzhou, sticking to the principal of “wining the fight against the epidemic and that for the  economic development”, successively released a series of effective policies and measures, such as tax and service charges reduction, financial subsidies and support, and so on to guide the city to unleash economic development potential and growth momentum while doing a good job in epidemic prevention and control, and to go all out to speed up the economic development in the first quarter and to strive to achieve the prescribed economic target in the first half of this year so as to win initiative for the quality development of the whole year.

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