Zhejiang's economy shows innovation-driven gains in October
Zhejiang's economy remained stable in October, with key indicators showing steady growth across industry, consumption, trade, and transportation.
Industrial output of enterprises above a designated size increased by 6.6 percent year-over-year, with 23 of 37 major industrial sectors reporting gains.
Retail sales reached 372.8 billion yuan ($52.42 billion) for the month, up 2.4 percent, supported by a 12.5 percent jump in dining revenue. From January to October, retail sales rose 4.9 percent to 3.21 trillion yuan.
Trade performance remained resilient. In the first 10 months, Zhejiang logged 4.6 trillion yuan in total imports and exports, a 5.3 percent increase year-on-year. Exports climbed 6.9 percent to 3.47 trillion yuan, while imports edged up 0.4 percent.
Private enterprises continued to play a decisive role, with trade rising 6.9 percent to 3.78 trillion yuan and accounting for 82.1 percent of the provincial total.
Transport activity also strengthened. Passenger volume reached 52.8 million in October, up 3.6 percent, with rail travel increasing 7.6 percent. Cargo volume grew 6.9 percent, including a 10.1 percent rise in highway freight, while cargo turnover expanded 9.2 percent.
Prices remained stable, with the consumer price index up 0.2 percent year-on-year and month-on-month.
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