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A view of Shaoxing's cityscape. [Photo/VCG]

Shaoxing's economy expanded 6.4 percent year-on-year in the first three quarters, with GDP reaching 694.4 billion yuan ($104.15 billion), ranking second in Zhejiang province, according to data released on Oct 26.

Agriculture remains stable. The added value of agriculture, forestry, animal husbandry, and fishery grew 4.5 percent over that period. Early rice output reached 140,000 metric tons, up 6.1 percent; aquatic products hit 97,000 tons, for a rise of 6.7 percent; and silkworm cocoons jumped 12.1 percent to 21,000 tons.

Industry drives growth. Value-added industrial output above designated size increased 10.4 percent, with 25 of 35 major sectors posting growth. High-tech industries grew 18.8 percent, core digital economy industries grew 18.6 percent, and equipment manufacturing grew 16.6 percent. Industrial robot output surged 72.2 percent. 

The services sector remains vibrant. Value-added output grew 6.4 percent, with information transmission, software and IT services up 11.7 percent and financial services climbing 7.0 percent. Cultural, sports, and entertainment activities jumped 46.2 percent in the first eight months.

Retail sales reached 240.2 billion yuan, up 2.5 percent. Wearable smart device sales rose 1.5-fold, smartphone sales grew 36.1 percent, and new energy vehicle sales increased 14.8 percent. Online retail sales by above-designated-size units reached 20.7 billion yuan, up 26.5 percent.

Total imports and exports hit 326.3 billion yuan, a 12.4 percent expansion. Exports rose 9.5 percent to 298 billion yuan, while imports surged 55.8 percent. Lithium-ion battery exports grew 16.3-fold, and exports to Association of Southeast Asian Nations (ASEAN) and Regional Comprehensive Economic Partnership (RCEP) members rose 23.7 percent and 20.8 percent respectively.