Hangzhou a model of innovation

Leaders Summit city in vanguard in internet finance and e-commerce

Why Hangzhou? The question might have entered the minds of many people since President Xi Jinping announced at last year's G20 in Turkey that Hangzhou will host the 2016 Leaders Summit.

"The Hangzhou model, with its emphasis on tertiary industry, especially fast-growing industries including internet financing, e-commerce and big data, stands for a Chinese path of development," Yan Jiuyuan, a researcher at Trigger Trend Research Center, a Guangzhou-based think tank, wrote in an analysis widely spread on the internet.