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Zhejiang sets New Year goals for industrial economy

ezhejiang.gov.cn| Updated: January 7, 2021 L M S

The Zhejiang Provincial Department of Economy and Information Technology set out a series of development goals for the province's industrial economy in 2021 at a conference it held on Jan 6.

These goals include that the industrial value added for Zhejiang enterprises above designated size increases by at least 6.5 percent in 2021, while the expected annual growth rate of core industries for the province's digital economy will be no less than 10 percent.

It will also strive to increase the overall labor productivity for Zhejiang enterprises above designated size by 7 percent in the same period.

The conference also summarized Zhejiang's remarkably resilient economic performance in 2020, which beat previous expectations and outshone most provinces in China.

Despite the impact of the COVID-19 pandemic, the industrial value added and profits for Zhejiang enterprises above designated size respectively grew by 4.8 percent and 11.5 percent year-on-year over the first 11 months of 2020. The growth rate of core industries for the province's digital economy in the same period was 16.5 percent.