- GDP rises 5.6% as industry and services both strengthen
- City eyes long-term push toward 3 trillion yuan milestone
Hangzhou’s economy expanded faster in the first quarter, with growth picking up from last year as both industrial output and services outpaced overall activity.
Gross domestic product reached 610.9 billion yuan ($89.36 billion) in the three months through March, rising 5.6% from a year earlier, according to data released April 22 by the Hangzhou Bureau of Statistics and a local arm of the National Bureau of Statistics.
The pace exceeded the national growth rate of 5% and marked a 0.4 percentage point acceleration from both full-year 2025 and the same period last year.
Industrial and service sector growth both surpassed headline GDP, suggesting a more balanced “dual-engine” recovery.
Industrial output from companies with annual revenue above 20 million yuan totaled 112.6 billion yuan, up 6.3% year-on-year, 0.3 percentage point faster than last year’s pace.
Key sectors led the gains, with computer, communications and electronics manufacturing rising 9.8%, auto manufacturing up 16.0%, and specialized equipment production increasing 13.6%.
The services sector remained the main driver, with value-added output reaching 470.5 billion yuan, up 5.7% and contributing 77.7% of overall growth.
Within services, for-profit segments grew 9.0%, while transport, logistics and postal services rose 4.8%, and hospitality increased 4.1%.
The data comes as Hangzhou enters the first year of China’s 15th five-year planning cycle (2026-2030) and steps up its push toward becoming a 3 trillion-yuan economy.
In the Yangtze River Delta, Hangzhou ranked third by GDP in 2025 with 2.30 trillion yuan, trailing Shanghai’s 5.67 trillion yuan and Suzhou’s 2.77 trillion yuan, while ahead of Nanjing at 1.94 trillion yuan and Ningbo at 1.87 trillion yuan.
