12.2008

Major Economic Indicators

Notes: ¹ In real terms ² For all state-owned enterprises and other forms with annual sales over RMB5 million
³ Jan-Aug 2008
Sources: Jiangxi Statistical Yearbook 2008, China's customs statistics 8.2008

General Background

Jiangxi has a total area of 166,900 square kilometers. Total population stood at 43.7 million by the end of 2007. Jiangxi - abbreviated as Gan, has its capital at Nanchang.

The Poyang Lake, lying in the northern part of the province, is the largest freshwater lake in China and is known as the "Land of Fish and Rice". It produces lots of rice, cotton, tea, sugarcane, oil-bearing seeds, beans, white lotus, melon seeds, ducks and chicken.

Jiangxi is rich in natural resources. It is a major source of timber and bamboo products in China. The deposits of copper, silver and uranium rank first among provinces of China, while tungsten and gold rank second. It also has ample geothermal energy resources and mineral water.

Jiangxi has been focusing on the development of the areas along the Beijing-Kowloon Railway in recent years. Several industrial bases will be established in the "Golden Triangle Industrial Bases" of Nanchang, Jiujiang and Jingdezhen.

Industries

In recent years, Jiangxi has been pushing forward the strategy of industrialization. The proportion of industry in GDP increased to 41.4% in 2007 from 27.7% in 2001.

Composition of GDP (%)

Source: Jiangxi Statistical Yearbook 2008

The structure of Jiangxi's industrial output reflects the rich mineral deposits of the province. In 2007, smelting and pressing of ferrous and non-ferrous metal accounted for nearly 30% of the gross industrial output.

Major Industry Groups (2007)

Source: Jiangxi Statistical Yearbook 2008

Jiangxi has benefited greatly from the relocation of military industry from the coastal regions to inland provinces in the 1960s-70s. In 2007, its heavy industry's output reached RMB448 billion, accounting for 72.3% of the gross industrial value.

While the share of the tertiary sector dropped over the years, the share of revenue from tourism in GDP grew from 0.84% in 1992 to 8.43% in 2007.

Tourism

Jiangxi has very rich historical and cultural heritages, all of which become famous tourist attractions nowadays. Famous scenic spots include: Bailudong Academy, Tengwang Pavilion, Capital of Porcelain-Jingdezhen, Lushan, Jinggang Mountains etc.

In 2007, Jiangxi received 665 thousand (+33.8%) overseas tourists and 69 million (+15%) domestic tourists, bringing revenues of US$196 million (+40%) and RMB45 billion (+18.4%) respectively. The total revenue accounted for 26.44% of the service sector's output.

Foreign Trade

In 2007, major export markets included the US, Hong Kong, Japan and Taiwan. Major exports included textile materials and products, chemical and related products, base metals and related products, etc.

Chile was the leading source of imports, followed by Peru and the US in 2007. Major imports included minerals, base metals and related products, etc.

In 2007, Hong Kong was Jiangxi's 3rd largest trading partner, Jiangxi's exports to Hong Kong reached US$616 million and imports from Hong Kong reached US$63 million.

Foreign Investment

Among the world's largest 500 enterprises, 30 have already established presence in Jiangxi by the end of 2007, e.g. Pesi Cola and Walmart from the US, Toshiba from Japan, Metro from Germany etc. The Nanchang-Jiujiang Industrial Corridor which is situated along the Nanchang-Jiujiang Expressway has become a popular spot for foreign investment.

In 2007, there were 867 newly approved foreign invested projects, with contracted amount of US$5,446 million, mainly engaged in manufacturing (82.6% of the total utilized amount) and real estate (9.6%).

Hong Kong is the largest source of foreign direct investment in Jiangxi. In 2007, Hong Kong investors signed 558 contracts (64.4% of the total) with a US$3,307.8 million contracted amount of investment (60.7% of the total). The utilised investment from Hong Kong amounted to US$1,789 million in 2007(57.6% of the total). Other major investors came from Taiwan and the US.

Consumer Market

In terms of per capita disposable income of urban residents, Jiangxi reached RMB11,222 in 2007, up by 17.5% from 2006.

Composition of Per Capita Expenditure of Urban Household (%)

Source: Jiangxi Statistical Yearbook 2008

Major department stores and shopping centres in Jiangxi include Nanchang Department Store Shareholdings Co, Nanchang Shopping Centre, Jiujiang Department Store and Jingdezhen Department Store, etc. Besides, various forms of operations such as chain stores, supermarkets are gaining popularity in Jiangxi.

Economic Indicators of Major Cites (2007)