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GDP up 8.1% in six months
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HANGZHOU’S gross domestic product rose 8.1 percent in the first six months of the year to 568.9 billion yuan (US$83.66 billion), according to Hangzhou Statistics Bureau.
The growth rate is 1.2 percentage points higher than the national average of 6.9 percent. The share of the service industry increased 11.2 percent to 353.4 billion yuan and that of manufacturing industry gained 5.5 percent to 156.8 billion yuan.
The IT industry kept its pace of growth, rising 22.5 percent over the same period of 2016. Mobile Internet led the growth of information industry by 44.9 percent, followed by e-commerce, digital content, information services, and cloud computing, all expanding at a rate of 28 percent or more.
The city’s retail sales reached 267 billion yuan, up 10.6 percent, despite sluggish demand in overseas markets. Online retail sales grew 25.1 percent to 179.2 billion yuan. Hangzhou consumers spent 79 billion yuan in online shopping, up 26.8 percent.
The statistics also highlighted a 41.7 percent jump in cultural consumption and a 13.7 percent increase in sports spending. Car sales expanded 9 percent to 41.9 billion yuan.
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