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Zhejiang expects GDP to grow 9% in 2011

Jan. 3, 2012 (China Knowledge) - Zhejiang Province in East China expects its gross domestic product to grow more than 9% year on year to RMB 3.18 trillion in 2011, said the local government at a meeting last Friday.

The province's GDP per capita is estimated to be more than RMB 58,000 or US$9,000 in 2011.

The per-capita disposable income of urban residents rose 7% year on year to RMB 30,900 in the year, while the per-capita net income of rural residents grew 9% year on year to RMB 12,900.

In the first three quarters of 2011, Zhejiang's GDP expanded 9.5% year on year, slowing from a 9.9% growth in the same period of the previous year.

Zhejiang is known for its booming private businesses, which contributed more than 70% of its GDP and more than 90% of its new jobs.

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