Quzhou's GDP grows 7.1% in first quarter

Quzhou's GDP reached 59.312 billion yuan ($8.67 billion) in the first quarter of the year, representing a 7.1 percent increase year-on-year.

Value-added industrial output from industrial enterprises above the designated size, or those with annual revenue of at least 20 million yuan, rose by 9.7 percent year-on-year. Of the city's 34 major industrial categories, 19 posted growth.

Among key industrial sectors, value-added output in computers, communications, and other electronic equipment manufacturing jumped 49.3 percent, followed by electrical machinery and equipment manufacturing at 37.2 percent and chemical raw materials and products manufacturing at 18.6 percent.

Value-added output in the services sector increased by 6.9 percent in the quarter.

Retail sales of consumer goods reached 24.95 billion yuan in the first quarter, up 6.7 percent year-on-year.

Foreign trade totaled more than 23.44 billion yuan, a 28 percent rise. Exports rose by 40.2 percent to more than 16.56 billion yuan, while imports grew by 5.8 percent to more than 6.87 billion yuan. Exports of electromechanical products, including batteries, increased by 136.4 percent.

Exports to countries and regions involved in the Belt and Road Initiative rose by 64.6 percent year-on-year, exports to the EU grew by 107.6 percent, and exports to South Korea rose by 45.9 percent, while exports to the United States fell by 19.9 percent.

Urban residents' per capita disposable income reached 21,910 yuan in the first quarter, up 4.2 percent, while rural residents' per capita disposable income grew by 5.1 percent to 10,566 yuan.