- Province sets new growth goals at start of next five-year plan
- Officials stress openness and ecosystem over government efficiency
Zhejiang aims to grow its AI industry to 1.2 trillion yuan ($175 billion) by 2030, as officials pivot toward building a stronger innovation ecosystem to sustain long-term growth.
Speaking at a provincial briefing on April 30, Governor Liu Jie said the target builds on years of investment in “Digital Zhejiang,” which has helped drive the emergence of competitive large AI models and a wave of tech startups.
The province’s core AI sector generated more than 700 billion yuan in revenue in 2025, up 20% from a year earlier.
He described the sector’s rise as the result of “two decades of effort,” framing the 2030 goal as part of a broader push to position Zhejiang as a leading AI innovation hub during the 15th Five-Year Plan period (2026-2030).
He said the focus of business environment reforms is shifting from improving government efficiency to fostering a stronger innovation ecosystem.
‘Tropical rainforest’
Liu likened the ideal system to a “tropical rainforest,” where policy direction acts as sunlight, innovation platforms as soil, patient capital as water, and efficient services and an open culture as air.
Zhejiang’s economy remains heavily export-oriented, with trade accounting for nearly 60% of activity. Exports exceeded 4 trillion yuan in 2025, ranking second nationally after Guangdong.
Meanwhile, new initiatives such as a bulk commodities trading hub and reforms in Yiwu’s trade system aim to deepen global integration.
Liu outlined a four-pronged approach to openness, focusing on upgrading trade, strengthening platforms, enhancing hub functions and building what he called a “best-in-class” environment in terms of service, cost and efficiency.
By 2030, Zhejiang aims to make “decisive progress” in building a model of common prosperity, with gross domestic product reaching 12 trillion yuan and per capita output approaching levels seen in developed economies, Liu said.
