浙江省及下辖各市经济财政实力与债务研究（2024）

Economic Strength of Zhejiang Province - Zhejiang Province has a robust economic foundation characterized by a well-developed private sector and trade, with a GDP of 8.26 trillion yuan in 2023, marking a 6.0% year-on-year growth, positioning it fourth nationally [1][9][22] - The province's digital economy has become a significant growth engine, contributing to the recovery of industrial and service sectors, with emerging industries leading the industrial economy's steady rebound [1][7][14] - Fixed asset investment growth has slowed due to reduced infrastructure investment and low growth in real estate development, while foreign trade has expanded, albeit at a declining growth rate [1][19] Fiscal Strength of Zhejiang Province - Zhejiang's general public budget revenue reached 8600.51 billion yuan in 2023, ranking third nationally, with a year-on-year growth of 7.0% [3][22][29] - Tax revenue accounted for 7124.55 billion yuan, growing by 7.6%, maintaining a tax ratio of around 85% [3][22] - Government fund budget revenue decreased by 16.9% to 8363.13 billion yuan, primarily due to a decline in land market activity [3][30] Debt Situation of Zhejiang Province - By the end of 2023, the total local government debt in Zhejiang Province reached 22885.95 billion yuan, reflecting a 13.5% increase from the previous year, with a controlled risk profile due to strict debt management [4][70][74] - The ratio of local government debt to general public budget revenue was 2.66, indicating a manageable debt level relative to revenue [74][80] - The province's city investment enterprises have seen a rapid expansion of interest-bearing debt, with a total of 5.85 trillion yuan by the end of 2023, ranking second nationally [83][89] Economic and Fiscal Analysis of Cities in Zhejiang Province - The economic strength of cities like Hangzhou and Ningbo remains prominent, with GDPs of 2 trillion yuan and 1.65 trillion yuan respectively in 2023 [2][38] - Cities such as Wenzhou, Shaoxing, and Jiaxing are in the second tier, with GDPs ranging from 600 billion to 880 billion yuan, while Taizhou's economy has been under pressure [2][38] - Fiscal performance varies, with cities like Zhoushan and Quzhou showing significant recovery in public budget revenue, while others face challenges due to declining land transaction revenues [4][58] Investment and Consumption Trends - In 2023, Zhejiang Province's fixed asset investment growth was 6.1%, with manufacturing investment maintaining double-digit growth despite a slowdown in infrastructure investment [17][18] - The retail sales of consumer goods reached 3.26 trillion yuan, growing by 6.8%, with notable recovery in the catering sector [18][53] - The province's foreign trade maintained its status as a major trading hub, with total imports and exports amounting to 4.90 trillion yuan, although growth rates have declined [19][54]