Hangzhou: The annual GDP of Zhejiang province is expected to top 12 trillion yuan ($1.79 trillion), and the per capita GDP will hit 170,000 yuan over the next five years, according to a top local official.
“By then, the per capita disposable income of Zhejiang’s residents will reach 85,000 yuan and the income gap between urban and rural residents will be reduced to a ratio less than 1.9:1. The province’s urbanization progress will continue, with the urbanization ratio reaching 76 percent five years later,” Yuan Jiajun, Party secretary of the CPC Zhejiang Provincial Committee, said in his report to the ongoing 15th CPC Zhejiang Provincial Congress on Monday. Figures show that Zhejiang’s GDP reached over 7.35 trillion yuan last year, up 8.5 percent year-on-year, and its per capita GDP topped 113,000 yuan. In 2021, the province’s urbanization rate was 72.7 percent and the ratio of disposable income between urban and rural residents in the province dropped from 1.96:1 in 2020 to 1.94:1, seeing a narrowing income gap between urban and rural residents over the past nine years. The per capita disposable income for urban residents was 68,487 yuan, and that for rural residents was 35,247 yuan, ranking first over the past 21 years and 37 years respectively across the country.
–The Daily Mail-China Daily news exchange item
