No. 8: Hangzhou

Well-known as one of the main breeding grounds for unicorns and technological start-ups, Hangzhou has demonstrated strong growth momentum in the digital economy and high-tech industries. From January to September, the city’s GDP reached 1.16 trillion yuan, up 3.2% year on year. 

The added value of the city’s tertiary industry amounted to 794.5 billion yuan, increasing by 4.6% over the previous year. The added value of core industries concerning the city’s digital economy amounted to 295.2 billion yuan, up 11.5 percent year on year and accounting for 25.5% of the GDP.