A bird's-eye view of the Hangzhou International Convention Center. [Photo/IC]

Hangzhou's economy is off to a strong start in 2025, with first-quarter GDP reaching 571.5 billion yuan ($78.3 billion), up 5.2 percent year-on-year, according to data released on April 28.

The growth rate surpassed last year's full-year and first-quarter figures, signaling a positive shift toward innovation and high-quality development.

Manufacturing and the digital economy showed stronger synergy, with industrial output rising 7.0 percent, the fastest in three years. Key sectors like computer and electronics manufacturing and automobile production grew 20.9 percent and 16.5 percent, respectively. Service industries, especially IT and digital services, maintained momentum, with IT revenues growing 11.1 percent.

Consumption, investment, and exports all strengthened. Retail sales rose 6.3 percent, led by strong gains in automobiles, communication devices, and home appliances. Fixed-asset investment increased 0.4 percent, while exports jumped 18.7 percent, driven by mechanical and electrical products and growing private sector contributions.

New industries and emerging markets gained traction. High-tech and strategic emerging industries outpaced overall industrial growth, with surges in lithium batteries, industrial robots, and integrated circuits. New energy vehicle sales and high-tech exports also saw strong gains.

Entrepreneurship flourished, with 84,000 new market entities registered in the first quarter, including 37,000 new enterprises. Hangzhou's economy is advancing with stronger innovation, resilience, and momentum toward new growth drivers.

The Asian Games Village in Xiaoshan district is transformed into affordable apartments for talent. [Photo/IC]