On the morning of December 4, Zhejiang Provincial Party Secretary Wang Hao chaired a symposium in Hangzhou with entrepreneurs and experts to gather insights on next year’s economic outlook and policy recommendations.
Ten representatives from enterprises and academia attended, including seven entrepreneurs from diverse industries: - Li Shufu, Chairman of Zhejiang Geely Holding Group - Liu Jie, Vice President of NetEase Group - Liu Bo, President of Alibaba Group’s Tmall - Wang Wenjie, President of Sunny Optical Technology (Group) Co., Ltd. - Lü Liang, Chairman of Huadong Medicine Co., Ltd. - Wang Jiangfeng, Chairman and CEO of Scantech (Hangzhou) Co., Ltd. - Chen Dezhan, Chairman of Zhejiang China Commodities City Group Co., Ltd.
Three experts also participated: - Shi Jinchuan, Senior Professor of Liberal Arts at Zhejiang University - Meng Gang, Deputy Director and Secretary-General of Zhejiang Provincial Advisory Committee - Li Jun, President of Zhejiang Development & Planning Institute
The discussion centered on next year’s economic priorities. Wang emphasized that 2025 marks the start of the 15th Five-Year Plan and a critical year for achieving decisive progress in high-quality development and common prosperity.
As a major economic powerhouse, Zhejiang’s GDP exceeded 9 trillion yuan in 2024, growing by 5.5%. In the first three quarters of this year, GDP reached 6.85 trillion yuan, up 5.7% year-on-year. The province’s private sector remains a key driver, contributing 67.4% of GDP, over 70% of tax revenue, 80% of imports/exports and employment, and 90% of enterprises.
Wang highlighted Zhejiang’s strengths, including a robust private economy, balanced urban-rural development, rich culture, and ecological advantages. He noted that national strategies and support for major economic provinces present significant opportunities.
However, challenges persist globally (e.g., geopolitical tensions, protectionism) and domestically (e.g., insufficient demand). Industries like new energy vehicles (NEVs) face growth pressures. Zhejiang-produced NEVs ranked fourth nationally in H1 2025, with Geely Auto’s NEV sales surpassing 1 million units and a 52% penetration rate. Yet, the sector must navigate slowing growth post-2025, as predicted by industry analysts.
During the symposium, entrepreneurs expressed cautious optimism, with many citing AI as a transformative force. One shared an anecdote: while in Europe, mentioning Hangzhou prompted an immediate reference to "Six Dragons," reflecting Zhejiang’s rising prominence in digital economy and AI.
Wang urged businesses to embrace innovation, adapt to changes, and enhance competitiveness through AI-driven efficiency. He pledged policy support to foster a business-friendly environment for sustainable growth.