An aerial view shows the Hangzhou Olympic Sports Center Stadium in Hangzhou, Zhejiang province. [Photo/Hangzhou Municipal Bureau of Culture, Radio, TV, and Tourism]

Zhejiang set a 2026 GDP growth target of 5 to 5.5 percent, outlining priorities for the opening year of the 15th Five-Year Plan period (2026-30) at a news conference in Hangzhou on April 30.

The province said its GDP rose through three major thresholds during the 14th Five-Year Plan period (2021-25), topping 7 trillion yuan ($1.02 trillion), 8 trillion yuan, and 9 trillion yuan in succession. GDP reached 9.4545 trillion yuan in 2025, with average annual growth of 5.9 percent, while per capita GDP rose to 141,000 yuan.

Innovation remained a key driver. Zhejiang's research and development spending intensity increased to 3.3 percent, its regional innovation capacity ranked fourth nationwide, and the value added of high-tech industries accounted for 69.1 percent of the total industrial value added of enterprises above designated size, defined as those with annual main business revenue of 20 million yuan or more.

The province also reported stronger market vitality. The number of registered business entities exceeded 11 million, with more than 75 percent active. Zhejiang completed a sweep of five national rankings for Chinese private enterprises for two consecutive years.

Reform and opening-up advanced further. Zhejiang's exports exceeded 4 trillion yuan, ranking second nationwide. The province also saw the establishment of China's first bulk commodity resource allocation hub and secured approval to implement a new round of comprehensive international trade reform in Yiwu.

Zhejiang's common prosperity efforts also made progress, with both urban and rural residents' income levels ranking first among China's provinces and autonomous regions. The urban-rural income ratio narrowed to 1.81, while the integration of basic public services improved.

Looking to 2030, Zhejiang aims to significantly enhance its economic strength, scientific and technological strength, and overall competitiveness, with per capita GDP approaching the level of developed economies.

The province's plan sets 16 priorities, including enhancing the overall efficiency of the innovation system, building a modern industrial system with Zhejiang characteristics, applying artificial intelligence across industries, and expanding high-level opening-up.