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China’s high-tech zones achieve double-digit growth in Q1 economic indicators

BusinessChina's high-tech zones achieve double-digit growth in Q1 economic indicators

China’s high-tech zones experienced significant growth during the first quarter of this year, with several key economic indicators showing double-digit increases. According to Shanghai Securities News, Qingyuan High-tech Zone in Guangdong province saw an 11.3% year-on-year rise in industrial added value in Q1, while the entire society’s fixed-asset investment increased by 21.6%, and industrial investment surged by 88.1% YoY. Meanwhile, Kunshan High-tech Zone in Jiangsu province recorded double-digit growth in fixed-asset investment of 14.5%, reaching ¥4.53bn ($660m), of which industrial investment reached ¥940m, up 20% YoY. The total industrial output value of Kunshan High-tech Zone reached ¥38.673bn in Q1.

In addition, the Jiaxing High-tech Zone in Zhejiang province experienced a 37.5% YoY increase in the industrial output value above the designated size to ¥16.574bn in Q1. Across the country, national high-tech zones have focused on digital, low-carbon, and health economies to further develop their advantageous industrial clusters. Jiaxing High-tech Zone has introduced a group of photovoltaic industry leaders and a large healthcare industry, while Kunshan High-tech Zone has established 10 characteristic professional innovation parks to provide strong support for industrial agglomeration and enterprise development. The country’s national high-tech zones have also implemented measures to optimize the business environment and provide high-quality services to enterprises, further enhancing economic development.

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