11.2007

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 2007
Sources: Jiangxi Statistical Yearbook 2007, China's customs statistics 9.2007

General Background

Jiangxi has a total area of 166,900 square kilometers. Total population stood at 43.4 million by the end of 2006. 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 38.7% in 2006 from 27.7% in 2001.

Composition of GDP (%)

Source: Jiangxi Statistical Yearbook 2007

The structure of Jiangxi's industrial output reflects the rich mineral deposits of the province. In 2006, smelting and pressing of ferrous and non-ferrous metal accounted for over 27.3% of the gross industrial output.

Major Industry Groups (2006)

Source: Jiangxi Statistical Yearbook 2007

Jiangxi has benefited greatly from the relocation of military industry from the coastal regions to inland provinces in the 1960s-70s. In 2006, its heavy industry's output reached RMB307 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 8.37% in 2006.

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 2006, Jiangxi received 497 thousand (+34%) overseas tourists and 60 million (+19%) domestic tourists, bringing revenues of US$140 million (+34%) and RMB38 billion (+22%) respectively. The total revenue accounted for over 8% of the province's GDP and 25% of the service sector's output.

Foreign Trade

In 2006, major export markets included Hong Kong, the US, Japan and South Korea. Major exports included garments, chemicals, processed food, base metal and articles of base metal, porcelain, cereals, cotton, shoes and electrical appliances.

Chile was the leading source of imports, followed by Taiwan and Japan in 2006. Major imports included minerals, machinery, electric equipment, etc.

In 2006, Hong Kong was Jiangxi's 3rd largest trading partner, Jiangxi's exports to Hong Kong reached US$505 million and imports from Hong Kong reached US$27 million.

Foreign Investment

Among the world's largest 500 enterprises, 24 have already established presence in Jiangxi by the end of 2006, 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.

FDI in Jiangxi

Source: Jiangxi Statistical Yearbook, 2007

In 2006, there were 982 newly approved foreign invested projects, with contracted amount of US$4,030 million, mainly engaged in manufacturing (61.2% of the total contracted amount) and real estate (17.3%).

Hong Kong is the largest source of foreign direct investment in Jiangxi. In 2006, Hong Kong investors signed 554 contracts (56% of the total) with a US$2,276 million contracted amount of investment (56% of the total). The utilised investment from Hong Kong amounted to US$1,588 million in 2006(57% 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 RMB9,552 in 2006, up by 10.8% from 2005.

Composition of Per Capita Expenditure of Urban Household (%)

Source: Jiangxi Statistical Yearbook 2007

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 (2006)