Zhejiang's GDP reached 9.01 trillion yuan (about $1.24 trillion) in 2024, growing 5.5 percent year-on-year, according to the Zhejiang Provincial Bureau of Statistics on Jan 20.

Retail sales rose 4 percent year-on-year to 3.39 trillion yuan, reflecting steady consumer demand.

Foreign trade hit a record 5.26 trillion yuan, a 7.4 percent increase, with exports up 9.5 percent to 3.90 trillion yuan and imports rising 1.9 percent to 1.36 trillion yuan.

Entrepreneurship continued to thrive, with 1.63 million new businesses registered in 2024, pushing the total number of active market entities to 10.95 million, up 5.9 percent.

Private enterprises and self-employed businesses accounted for 96.8 percent of the total. The number of private exporters exceeded 100,000 for the first time, with a 10 percent increase in export value.

Per capita disposable income reached 67,013 yuan, 25,699 yuan higher than the national average, growing 5 percent from the previous year. Urban residents earned 78,251 yuan per capita, up 4.3 percent, while rural residents saw incomes rise 6.1 percent to 42,786 yuan.

The labor market remained robust, with 1.18 million new urban jobs added, a 1.7 percent increase from 2023. The urban surveyed unemployment rate averaged 4.5 percent, down 0.1 percentage points year-on-year.