Hangzhou, Zhejiang Province
Introduction to Hangzhou
Hangzhou (City Panorama) is the provincial capital of Zhejiang Province, a strong economical province in China. It is the transportation hub, the political, economic, cultural and financial center of Zhejiang Province. The city is also an e-commerce center in China, and an internationally renowned tourist city. Hangzhou is located in the southeast coast of China, in the north of Zhejiang Province, in the lower reaches of the Qiantang River, at the southern end of the Beijing-Hangzhou Grand Canal. It has 10 districts, 1 county-level city and 2 counties. In 2018, the resident population is 9.806 million.
At the end of 2018, the Hangzhou metropolitan area has an area of 53,239 square kilometers and a population of 25.698 million. According to the “China Metropolitan Area Evaluation Index” issued by Shanghai Jiaotong University, Hangzhou is the fourth largest metropolitan area in China after Shanghai, Guangzhou and Beijing. In 2015, Hangzhou’s economic aggregate ranked 10th in mainland China, and was rated as the best commercial city in mainland China by Forbes. As the headquarters of Alibaba and other Internet industry companies, the city has a strong population appeal to Internet industry personnel. Therefore, Hangzhou is one of the major representative cities in the new first-tier cities that began to be popular in 2010, since 2014. The rapid population growth has caused many concerns about the rapid rise of local housing prices, the shortage of quality education resources, and the rapid changes in urban life.
Hangzhou has a long history and has a history of more than 2,200 years. It has successively become the capital of Wu Yueguo and the Southern Song Dynasty and is one of the seven ancient capitals of China. Hangzhou is one of the first historical and cultural cities with rich cultural landscapes. The cultural landscape of West Lake is a world cultural heritage, which has deeply influenced the garden design of China, Japan and Korea.
Since ancient times, Hangzhou has been beautiful and rich, and the reputation of “paradise on earth” has been circulating for a long time. “Marco Polo’s Travels” praised it as “the most luxurious city in the world.” As a national key scenic tourist city, Hangzhou has scenic spots such as West Lake, Xixi Wetland and Xianghu Lake, as well as scenic spots such as Qiandao Lake and Tianmu Mountain.
E-Commerce and High-Tech
Built on the fast growing high-technology industry and e-commerce, Hangzhou is quickly becoming home to fortune. GDP per capita increased 13.6% in 2017 to RMB136,656, and remains the highest in Zhejiang province. The robust IT industry in Hangzhou has made an increasing number of billionaires; Hangzhou is the 4th in China in number of billionaires and has the most billionaires among second-tier cities.
Hangzhou is also home to 26 unicorns (start-ups valued over US$1 billion) and 105 companies valued over US$100 million according to a WeLian (a platform that connects investors and start-ups) report. The unicorns in Hangzhou rank third in volume after Beijing and Shanghai, and second in value after Beijing. The unicorn companies have become the forerunners in the country’s development of new technologies and the digital economy. Unicorns in Hangzhou were valued at $141.9 billion and are focused mainly on e-commerce, IT and internet financing. Ant Financial (under Alibaba), the company that runs Alipay and is located in Xihu district, was had the highest valuation at US$75 billion.
Hangzhou hosted the 2016 G20 Summit and the 2018 World Short Track Swimming Championships, which will host the Asian Games in 2022.
From 2016 to 2020, 132 international conferences were and are expected to be held in Hangzhou. In 2016, in addition to the G20 summit, Hangzhou also hosted the 3rd Hangzhou International Conference on Global Genetics, and Yunqi Township, attracting leaders from the Internet, scientific research, business and economic sectors to gather in Hangzhou. .
At present, Hangzhou ranks third in the ranking of China’s international conference cities, second only to Beijing and Shanghai, two international metropolises.
The reasons, 1, Hangzhou has beautiful scenery and a long history and culture. 2, after the 2016 G20 summit, the reception capacity of conference has been greatly improved.
At present, there are more than 200 domestic and overseas routes and more than 30 direct flights. Hangzhou has also open international flights to Sydney, Australia and Vancouver, Canada; the Hangzhou-Lisbon route will also be opened. These intercontinental routes has made the city a big step forward on the road to becoming an international city. The International Conference and Conference (ICCA) recently released the 2018 Global Conference Destination City Rankings. With 28 international conferences, Hangzhou ranked 3rd in the country, 21st in Asia, and 97th in the world.
Transportation in Hangzhou
With an extensive network of expressways and railways, Hangzhou is highly connected with other cities in Yangtze River Delta and Zhejiang province. Business people can make it to Shanghai within an hour by high-speed train, making it a hub for cities south of Shanghai.
High Speed Railway
※ Northward— 5 hours 10 minutes to Beijing
※ Eastward— 56 minutes to Shanghai
※ Southward— 6 hours and 32 minutes to Guangzhou
※ Westward— 14 hours to Chengdu
※ Southeastward— 3 hours 12 minutes to Fuzhou
Hangzhou Xiaoshan International Airport
As for airports, Hangzhou’s Xiaoshan International Airport ranked as the 10th largest international airport in China, serving 38.24 million passengers both domestically and internationally in 2018. At present, there are 27 direct international routes departing from Xiaoshan International Airport. Destinations include Los Angeles, San Francisco, Vancouver, Madrid, Amsterdam, and Bangkok etc. By 2022, Xiaoshan International Airport will open new routes, such as direct flights to eastern cities in United States and in Canada.
Subway (Metro) in Hangzhou
Within Hangzhou, the city also boasts an expanding metro network. In 2017, three lines were in operation (Line1, 2 and 4) with a totaling length of 107.02 km. The city plans to add 10 more lines—including extensions to the three existing ones—as part of the city development preparation for hosting the 2022 Asian Games. The total length of metro network when complete will be 387.8 km. While some cities are answering government’s call to manage Fixed Asset Investments (FAI), the city, with its schedule to host the international games, will continue to improve its infrastructure.
According to the latest list of 2019 universities announced by the Ministry of Education, there are currently 46 colleges and universities in Hangzhou, including and 27 full time universities and colleges and 19 vocational colleges.
The city is also witnessing a revolution in its education industry—the launch of China’s first private research university, Westlake University. The school has received over RMB 100 million, and will rely on private donors for most of its funding.
2018-Hangzhou-Report-English By Savills (All rights reserved by Savills China)