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Academic Journal of Business & Management, 2022, 4(2); doi: 10.25236/AJBM.2022.040216.

Research on Economic Influencing Factors of Zhejiang Province Based on Principal Component Analysis


Kang Gai1, Anjing Zheng2

Corresponding Author:
Kang Gai

1Business School of Shandong University of Technology, Zibo, China

2Westa College of Southwest University, Chongqing, China


Zhejiang Province, a relatively well-rounded province in China's economic development, has seen significant fluctuations in its economic performance in the post-pandemic era. Therefore, studying the economic influences behind this phenomenon will guide its future development in the long run. This paper adopts the method of principal component analysis, selecting the economic data of Zhejiang Province from 2013 to 2021. It classifies and studies the economic evaluation indicators according to the criteria of economic internal and external circulations combining the relevant circumstance of the post-pandemic era. The conclusion is that the internal circulation is of higher importance and priority compared to the external circulation of the economy, which is closely related to the pandemic resistance of the economy. This leads to a proposal to improve the resistance of economy to pandemic by developing the economic internal circulation. Thus, Indirect improvements to the proportion of the economic external circulation could be accordingly formulated.


Zhejiang Province; Economic Double Cycle; Principal Component Analysis; Post-pandemic Era

Cite This Paper

Kang Gai, Anjing Zheng. Research on Economic Influencing Factors of Zhejiang Province Based on Principal Component Analysis. Academic Journal of Business & Management (2022) Vol. 4, Issue 2: 91-96. https://doi.org/10.25236/AJBM.2022.040216.


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