GDP growth: 9.5% (Year 2016)
- Provnicial capital of Zhejiang
- A key central city in Yangtze River Delta and a traffic hub in Southeast China
- Trade volume: total import volume - RMB11.7217 billion, total export volume RMB 33.138 billion
- Key trade event: West Lake International Expo Hangzhou China (October - November), China International Cartoon and Animation Festival (end April - early May), Global Cross-Border E-commerce Summit (late October) & China Global Investment Forum Hangzhou (November)
- Major international events: The G20 Hangzhou Summit (held in Sep 2016), The 19th Asian Games (to be held in September 2018)
- Food processing
- Creative and Culture
- Light machinery
- Automotive components
Hangzhou’s economy benefits from the diversity of industry based in the city. In addition, Hangzhou, despite its relative proximity to Shanghai, has a large service sector attracting many international offices and branches.
The city has been successful in attracting and developing investment in new industries, particularly ICT.
Recent transport investment will further enhance Hangzhou’s position as a manufacturing, service and logistics hub, not just for Zhejiang Province but for the YRD as a whole and other surrounding provinces and cities.
Opportunities for British Business’s
- Encouragement of private investment in education and social training
- Explore public resources to support non-profit private school development
- Smart City and intelligent transport system to resolve traffic jam issue
- 13-18 new hospitals to be constructed in the creation of a hospital network so that patients have no more than a 15 minute walk
Our Local Managers top 5 reasons o do business in Hangzhou
- Hangzhou is a historic and liveable city, neighbouring Shanghai, with beautiful scenery and natural environment. Owns 2 World Heritage Sites in the city – the West Lake and the Grand Canal
- A leading Tier 2 city in China: total GDP ranked No.10 in China
- Vibrant private economy: private economy generates 60% of the total city GDP; Hangzhou has taken the first place in China for 12 years in terms of the amount of Top 500 private companies. E.g. Alibaba, Wahaha, Wanxiang Group, Geely etc.
- An open, pragmatic, efficient and supportive local government
- A strong talent supply pool: 38 colleges and universities in the city
- China Eastern offers a daily 14 hour flight from London to Hangzhou through Beijing
- Hangzhou is less than 2 hours from Shanghai, 5 hours from Beijing and just over 6 hours from Guangzhou by high speed train.
- The city is served by a metro system with 3 lines and 50 stations with 5 more lines planned in the year ahead.