According to the Zhejiang provincial department of economy and information technology, five industrial clusters in China Hangzhou, Zhejiang province are among the 20 finalists in the 2020 Advanced Manufacturing Clusters in China contest, more than any other province or municipality.
The contest was organized by the Ministry of Industry and Information Technology with the aim of cultivating advanced manufacturing clusters around the country. Each of the 20 clusters will be awarded 10 million yuan ($1.43 million) in funding from the central government.
The five winners in Zhejiang are the Hangzhou Digital Security and Protection Industrial Cluster, the Ningbo New Material Industrial Cluster, the Wenzhou Yueqing Electrical Industrial Cluster, the Shaoxing Modern Textile Industrial Cluster, and the Jinhua Modern Hardware Industrial Cluster.
These industrial clusters are highly competitive in the national arena. The Hangzhou Digital Security and Protection Industrial Cluster, for instance, contributes 55.5 percent of the total output of the country’s security and protection industry; its key video monitor products account for nearly half of the global market.
The Wenzhou Yueqing Electrical Industrial Cluster accounts for 65 percent of the national market; it has over 6,000 types of products and over 25,000 models. Yueqing, a county-level city administered by Wenzhou, Zhejiang province, is often referred to as “China’s Capital of Electric Apparatuses”.
To date, Zhejiang has some 80 industrial clusters that exceed 10 billion yuan in annual output and 12 industrial clusters that exceed 100 billion yuan. More than 70 Zhejiang-based manufacturing clusters have achieved more than 30 percent domestic market share.