An aerial view of Shaoxing. [Photo/Tide News]

Shaoxing's economy showed stable growth and strengthening momentum in the first 11 months of the year, according to recent data released by the Shaoxing municipal bureau of statistics. Consumption potential continued to be unlocked, emerging sectors remained active, and high-quality development steadily advanced.

Industrial performance remained robust, with value-added output of industries above designated size rising by 9.8 percent year-on-year. Twenty-five sectors posted growth, representing a growth coverage rate of 71.4 percent. Key industries, including raw chemicals and chemical products, computer and communication equipment, electrical machinery and apparatus, and general-purpose equipment, served as important engines of industrial expansion.

The service sector continued its steady recovery. In the first 10 months, operating revenue of service enterprises above designated size reached 55 billion yuan ($7.84 billion), up 12.7 percent year-on-year.

Consumption gained momentum. From January to November, total retail sales of consumer goods amounted to 295.1 billion yuan, an increase of 5.6 percent. Demand for upgraded goods such as sports and recreational products and electronic publications remained strong, while online retail sales surged 38.3 percent to 22.6 billion yuan, becoming a key driver of consumption growth.

The structure of foreign trade continued to improve. Exports of high-tech products rose by 16.8 percent, led by significant growth in electronics technology, electronic components, diodes, and similar semiconductor devices. Exports to markets in Asia, South America, and Oceania also expanded further.