Zhejiang is the birthplace of the Communist Party of China and the "Red Boat Spirit". In 1921, the first CPC National Congress was successfully held on a small boat on Nanhu Lake in Jiaxing, signifying the birth of the Communist Party of China.

[Photo/WeChat account: zjfabu]

Zhejiang was a pioneer in China's reform and opening-up. It carried out market-oriented reform more than 40 years ago, one of the first provinces in China to do so. Over the years, its private economy has achieved leapfrog growth in scale and strength, nurturing a great number of successful enterprises.

In 2025, Zhejiang's GDP is estimated to have grown by about 5.5 percent, while the general public budget revenue rose 1.8 percent. Per capita disposable income of urban and rural residents increased by about 4.3 percent and 5.5 percent, respectively.

Foreign trade exports are expected to grow by around 7 percent, and actual utilization of foreign investment is projected at about $11.5 billion.