A bird's-eye view of Hangzhou's CBD. [Photo/CCTV]

Hangzhou's GDP reached 1.2013 trillion yuan ($178 billion) in the first half of 2026, up 5.3 percent year-on-year, according to data released on July 23.

The city's latest economic report points to three trends: stability, new growth drivers and an improving economic structure.

The city's industrial output expanded 6.5 percent, while its service sector grew 5.4 percent and contributed 76 percent of economic growth. Exports rose 13.1 percent to 350 billion yuan, highlighting the resilience of foreign trade.

New industries continued to gain momentum. The value added of digital-economy core manufacturing and high-tech manufacturing increased 14.5 percent and 12.8 percent, respectively. Retail sales of wearable smart devices surged 292.4 percent, reflecting rapidly growing demand for AI-powered consumer products.

Investment also shifted toward advanced manufacturing, with industrial investment rising 16.4 percent and manufacturing investment up 15.4 percent. Meanwhile, per capita disposable income reached 46,703 yuan, an increase of 4.5 percent.

The figures suggest Hangzhou is entering the next stage of growth with a stronger industrial base, expanding innovation economy and more balanced development.

Hangzhou invites visitors to enjoy the city's view via helicopter rides. [Photo/CCTV]