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Shaoxing is in a critical period of economic transformation and upgrading. It is listed as the only comprehensive pilot city in Zhejiang province for transformation and upgrading of traditional industries. The city is rebuilding the core competitiveness of its traditional industries, and accelerating the cultivation of new industries.

Shaoxing's traditional industries, mainly textiles, chemicals, metal processing, yellow rice wine and pearls, account for 70 percent of the city's industries above the designated scale – annual sales revenue surpassing 20 million yuan ($2.85 million).

Shaoxing is the largest chemical fiber fabric production base in Asia. Keqiao China Textile City is the world's largest textile distribution center; Shengzhou is the largest necktie production base in China, with the annual output accounting for 90 percent of the country's total annual output and 66 percent of global output; Zhuji is the country's largest socks production base, accounting for 66 percent of the country's total annual output.

Shaoxing follows the principle of "one industry in one area", which are Yuecheng district for integrated circuits; Keqiao district for textiles; Shangyu district for new materials; Zhuji for metal processing; Shengzhou for high-end kitchenware; Xinchang county for life and health; and Binhai New City for pharmaceutical manufacturing.

Shaoxing has four State-level development zones – Shaoxing High-tech Industrial Development Zone, Paojiang Economic and Technological Development Zone, Keqiao Economic Development Zone, and Hangzhou Bay Shangyu Economic and Technological Development Zone – and one province-level industrial agglomeration zone – Shaoxing Binhai New City, which has built a broad platform for investors.

Binhai New City, which is located on the north coast of Shaoxing, has a planned area of 500 square kilometers. The core area, Jiangbin, is suitable for projects and large enterprises.