Zhejiang's manufacturing sector is showing strong signs of recovery, according to the Foreign Trade Electricity Prosperity Index recently released by the State Grid Zhejiang Electric Power Co. 

As of late May, the province's overall index stood at 109.8 percent — firmly within the prosperity range.

From May 12 to 18, electricity consumption among large-scale export-oriented industrial enterprises in Zhejiang saw a distinct V-shaped rebound. Total power usage rose 5.2 percent year-on-year and 2.6 percent week-on-week. 

Excluding weekend effects, daily electricity consumption hit a low on May 12 but steadily climbed from May 13 to 16. On May 16, usage was up 15.2 percent from the previous Sunday — a clear sign of accelerated production recovery.

According to Xiang Xiaoyu, an official with the State Grid Zhejiang Electric Power Co, the index monitors over 20,000 large-scale export-oriented manufacturers. It integrates data such as export delivery values and power consumption. 

It provides real-time insights into foreign trade operations, with targeted analysis of five key industrial clusters, including the digital economy, high-end equipment, chemicals, hardware, and textiles — all mapped to regional characteristics and supply chains.

The index also tracks power consumption trends in the province's small- and medium-sized enterprises and port logistics operations, offering a dynamic view of private sector vitality and export delivery conditions. From May 19 to 25, the SME index rose to 100.8 percent — up 0.7 percentage points week-on-week — remaining in the prosperity zone. 

At the same time, container exports from Ningbo Zhoushan Port increased by 4.8 percent, with port power consumption up 6.7 percent.