Jinhua in East China's Zhejiang province has been steadily improving its service industry through reform and innovation in order to further stimulate market vitality and creativity, according to local media outlets.
In 2021, the added value of the city's service industry reached 299.6 billion yuan ($42.97 billion), accounting for 56 percent of the city's total GDP, up from 50.7 percent in 2015.
Jinhua, as a production service-oriented and commercial service-oriented national logistics hub, is striving to build a modern logistics network encompassing the entire world. Efforts have been made toward the integrated development of Yiwu International Land Port and Ningbo-Zhoushan Port. In addition, China-Europe freight trains can now export goods from Yiwu to over 160 cities in Europe and Asia.
Jinhua is home to a well-developed commodity trading system, including 234 commodity trading markets, one of which has an output value exceeding 100 billion yuan and four of which have an output value exceeding 10 billion yuan each. It has established trade relations with 232 countries and regions around the world. In 2021, Jinhua's foreign trade saw had highest growth rate in the province, totaling 55.37 billion yuan.
Jinhua regards the development of the digital economy as the main focus of promoting high-quality development. In 2021, the operating income of the service industry of the digital economy reached 33.68 billion yuan, ranking third in the province, and Jinhua Development Zone was named the only digital creative industry pilot zone in Zhejiang province.
