Taizhou's gross domestic product (GDP) soared above 500 billion yuan ($76.92 billion) in 2020, according to the government work report delivered by Mayor Wu Haiping.

Wu delivered the report at the sixth session of the fifth Taizhou Municipal People's Congress that commenced in the city in East China's Zhejiang province on Feb 5.

Taizhou's fiscal revenue and general public budget revenue amounted to 68.28 billion yuan and 40.12 billion yuan last year, increases of 4.8 percent and 6.1 percent respectively.

The city's overall per capita disposable income increased by 8.4 percent to 50,643 yuan. The income gap between urban and rural residents further narrowed. The ratio between their incomes shrank from 2.04 to 1.94.

The city also witnessed a significant improvement in innovation capability. Over the past year, the city added 837 national high-tech enterprises and 4,553 provincial small and medium sized companies. The added value of high-tech enterprises above the designated size surged 10.5 percent year-on-year.

In 2020, the city's investment in fixed assets achieved a year-on-year growth of 10.4 percent, among which 69.5 percent were private capitals.

The number of listed companies in Taizhou reached 62.

In addition, the city retained its position as a national civilized city and was listed among the nation's happiest cities for the fifth consecutive year.

Taizhou also ranked high nationwide in terms of air quality in 2020. The public satisfaction rate toward the city's ecological environment quality increased to 95.7 percent.