BEIJING, May 29 (Xinhua) -- Zhejiang, a coastal province in eastern China, on Monday launched an initiative that aims to construct a Great Bay Area in the province with annual gross domestic product to top 6 trillion yuan by 2020.
Meng Gang, head of Zhejiang Provincial Development and Reform Commission, said at a press conference on Monday that Zhejiang Great Bay Area will be composed of the Hangzhou Bay rim economic zone, the port industry belt in Ningbo, Taizhou and Wenzhou, and the open passage along Yiwu, Ningbo and Zhoushan.
It intends to become a world hub for digital innovation, said Meng.
Under the plan, digital economy will contribute more than 50 percent of economic growth in the Great Bay Area by 2020. High technology industry will account for over 47 percent of its total industrial value added.
Industry insiders said Zhejiang Great Bay Area is expected to be upgraded to national level in the near future.
Zhejiang is one of the most economically vibrant provinces in China. Its GDP reached 5.18 trillion yuan in 2017, the fourth largest in China. (Contributed by Ding Lei, dingle@xinhua.org, edited by Zhang Aifang, zhangaf@xinhua.org)
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