Hangzhou reports robust GDP growth in Q1, digital economy a highlight

Hangzhou, capital of East China's Zhejiang province, reported a GDP growth of 7.5 percent in the first quarter of this year, with digital economy acting as an important driving force, according to a report from the Hangzhou Municipal Statistics Bureau on April 23.

The city's GDP reached 323 billion yuan ($48.02 billion) in the first quarter of 2019, with the added value of its digital economy, a strong sector in Hangzhou, rising by 16 percent year-on-year to 80.9 billion yuan, accounting for 25.1 percent of the city's GDP.

Core industries above the designated scale witnessed a growth of 5.6 percent in added value. High-tech industries, emerging industries, and equipment manufacturing industries increased by 9.0 percent, 9.5 percent and 10.1 percent, respectively.

Fixed-asset investment maintained rapid growth over the past few months, up 11.3 percent year-on-year.

Meanwhile, per capita disposable income of urban and rural residents has grown by 8.1 percent and 9 percent respectively.