Zhejiang's economy on sound track

Photo taken on Sept 13, 2018 is the West Lake in Hangzhou, East China's Zhejiang province. [Photo/VCG]

East China's Zhejiang province, renowned for its thriving private sector, witnessed a year-on-year GDP growth of 7.5 percent between January and September, according to the provincial bureau of statistics.

In the first three quarters of this year, the province's volume of gross domestic product reached 3.98 trillion yuan ($573.8 billion), among which the tertiary industry grew 8 percent, to top 2.16 trillion yuan. The added value of the digital economy, another featured sector in the province's economy, rose a robust 14.8 percent year-on-year, accounting for 9.7 percent of the province's combined GDP.

Its capital, Hangzhou, where e-commerce giant Alibaba is headquartered, saw a GDP rise of 7.3 percent to reach 967.3 billion yuan during the same period.

"It's still a medium-to-high growth rate, which proved the quality of the city's economy has been steadily improving as Hangzhou deepens its economic structure adjustment and improvement," said an official with the Hangzhou bureau of statistics on Tuesday.