Investment in Zhejiang's high-tech industries rose 6.9 percent year-on-year in the first three quarters as the province continued to restructure its fixed-asset investment.

High-tech manufacturing accounted for 73.6 percent of the growth in manufacturing investment. Investment in electronic and communications equipment manufacturing rose 16.8 percent, while investment in computer and office equipment manufacturing increased 16.6 percent.

Zhejiang is directing investment toward key parts of its AI hardware supply chain as rapid advances in large AI models and generative AI tighten supplies of AI servers and their core control boards.

Hangzhou's Qiantang district accounts for 25 percent of Zhejiang's wafer manufacturing output value. The launch of an AI computing equipment industrial base project in the district has added a key link to the local industrial chain.

Private investment in projects excluding real estate development rose 2.1 percent in the first three quarters. Its share of total private investment increased by 10.1 percentage points year-on-year.

Private manufacturing investment grew 6.6 percent, with its share of total private investment rising to 52.1 percent.