Finance Standpoints
In 2019, the city's gross regional product (GRP) grew by 6.8% to CNY1.53 trillion, with tertiary industries contributing 66.2%. In 1H20, GRP increased by 1.5% to CNY738 billion, slowing due to the impact from the coronavirus pandemic. Its digital economy grew 10.5% to CNY183 billion, representing 24.8% of GRP. 'Very Strong' Status, Ownership, and Control: HFI is effectively owned, managed and supervised by the Hangzhou municipal government. The board of directors is the highest decision-making body of HFI and members are appointed by the municipal government. The government also maintains
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