Economy of Zhejiang Province
The province is traditionally known as the "Land of Fish and Rice". True to its name, rice is the main crop, followed by wheat; north Zhejiang is also a center of aquaculture in China, and the Zhoushan fishery is the largest fishery in the country. Main cash crops include jute and cotton, and the province also leads the provinces of China in tea production (the renowned Longjing tea is a product of Hangzhou). Zhejiang is also a producer of silk, for which it is ranked second among the provinces.
Zhejiang’s manufacturing is centered upon electromechanical industries, textiles, chemical industries, food, and construction materials. In recent years Zhejiang has followed its own development model, dubbed the "Zhejiang model", which is based on prioritizing and encouraging entrepreneurship, an emphasis on small businesses responsive to the whims of the market, large public investments into infrastructure, and the production of low cost goods in bulk for both domestic consumption and export. As a result, Zhejiang has made itself one of the richest provinces, and the "Zhejiang spirit" has become something of a legend within China. However, some economists are now worrying that this model is not sustainable, in that it is inefficient and places unreasonable demands on raw materials and public utilities, and also a dead end, in that the myriad small businesses of Zhejiang producing cheap goods in bulk are unable to move to more sophisticated or technologically-oriented industries.
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