A bird's-eye view of Hangzhou in East China's Zhejiang province. [Photo provided to ehangzhou.gov.cn]

The Hangzhou statistics bureau announced on Nov 2 that the city's GDP registered a year-on-year increase of 1.8 percent to 1.36 trillion yuan ($186.16 billion) in the first three quarters of this year, 0.6 percentage point higher than in the first half of the year.

Officials from the bureau said that Hangzhou has braved difficulties during the period, showed great resilience, and began seeing an economic recovery.

Hangzhou's industrial economy, the main driver of the local economy, has been edging up as the industrial added value of enterprises above a designated size grew by 3.4 percent in the first three quarters.

The city's troika, or investment, consumption and exports, has also shown signs of recovery.

In the first three quarters, fixed-asset investment in Hangzhou grew by 9.5 percent. Large amounts of investment have been attracted to key areas, especially in industrial investment, which is up by 27.5 percent, and manufacturing investment, which is up by 36.9 percent. The investment structure has also continuously improved.

The total retail sales of consumer goods in Hangzhou reached 522.8 billion yuan from January to September, up 5.4 percent year on year, 2.4 percentage points higher than in the first half of the year.