Page 86 - 2020 Special Report on the State of Business in South China
P. 86
Fujian
The Economy sector, finance and logistics were the fast-growing
industries in terms of value-added in 2018.
Fujian is located in the south-eastern
coast of the mainland, opposite Meanwhile, new industries are fast catching up,
to Taiwan. It has a total area of 124,000 sq km. especially for high value-added manufacturing,
Total population stood at 39.41m in 2018. The under the direct support of favorable government
Southeast Fujian area which comprises five cities policy. In 2017, Fujian’s value-added of hi-tech
and counties – Fuzhou, Xiamen, Putian, Quanzhou industries increased by 12.5%YoY, up 0.8ppt
and Zhangzhou, is the economic hub of Fujian, from the previous year. The electronic industry
accounting for 76.3% of the province’s GDP in 2018. is particularly concentrated at Fuzhou, which as
one of the world’s largest production base for LCD
In 2017, Fujian ranked 10th out of China’s 31 display screens, is also home to world famous tech
provinces by size of economy. Up from 22nd in enterprises including TPV Technology, Castech,
1978, Fujian has been one of the fastest growing and Rockchip Semiconductors.
provinces since China’s economic reform. In
particular, Fujian’s economy maintained steady The Fujian government focuses its effort on
growth relative to the other provinces since the attracting foreign investment in 13 industries,
18th National Party Congress in 2012, indicating namely electronics and information technology,
that the significant contribution that comes machinery equipment, petrochemicals,
from infrastructure upgrade, service sector and metal processing, shipbuilding, new energy,
technology advancement to the provincial economy. pharmaceutical (traditional Chinese medicine),
logistics, new material, construction material and
In 2018, Fujian ranked 10th out of China’s 31 textile. Tourism development is also a focus in
provinces by size of economy. Up from 22th in the government’s work report, with emphasis on
1978, Fujian has been one of the fastest growing its natural and relatively unpolluted environment
provinces since China’s economic reform. In such as Wuyi Mountain, Gulangyu Isle, and Taining
particular, Fujian’s economy maintained steady Golden Lake. In 2018, Fujian received 451.4 million
growth relative to the other provinces since the (+20.3%) domestic tourists with tourism receipts
18th National Party Congress in 2012, indicating of RMB603.2 billion (+32.0%) and 9.01 million
that the significant contribution that comes (+16.2%) non-mainland tourists with foreign
from infrastructure upgrade, service sector and exchange income of US$9.9 billion (+19.8%).
technology advancement to the provincial economy.
Similar to Guangdong, its coastal position
By industry, Fujian’s economy is dominated by and strong connections to Taiwan made Fujian
the manufacturing sector which accounted for an export-facing province. In 2018, merchandize
close to half of the economy. It includes traditional exports amounted to 21.3% of Fujian’s GDP, below
industries such as leather products, mineral only Guangdong and the Yangtze delta provinces.
products, agricultural non-staple food processing, Major export markets included the US, Hong
and textile. The role of traditional industries such Kong, Japan, the Philippines, Taiwan and Germany.
as petrochemicals and machinery production Fujian’s major export items included machinery
(including automobiles and sea vessels), as well and transport equipment, clothing and accessories
as ferrous and non-ferrous metal, textiles, and and footwear. Thanks in part to its proximity and
garment production remains strong. In the service historical connections with Taiwan, Fujian is also
86
The Economy sector, finance and logistics were the fast-growing
industries in terms of value-added in 2018.
Fujian is located in the south-eastern
coast of the mainland, opposite Meanwhile, new industries are fast catching up,
to Taiwan. It has a total area of 124,000 sq km. especially for high value-added manufacturing,
Total population stood at 39.41m in 2018. The under the direct support of favorable government
Southeast Fujian area which comprises five cities policy. In 2017, Fujian’s value-added of hi-tech
and counties – Fuzhou, Xiamen, Putian, Quanzhou industries increased by 12.5%YoY, up 0.8ppt
and Zhangzhou, is the economic hub of Fujian, from the previous year. The electronic industry
accounting for 76.3% of the province’s GDP in 2018. is particularly concentrated at Fuzhou, which as
one of the world’s largest production base for LCD
In 2017, Fujian ranked 10th out of China’s 31 display screens, is also home to world famous tech
provinces by size of economy. Up from 22nd in enterprises including TPV Technology, Castech,
1978, Fujian has been one of the fastest growing and Rockchip Semiconductors.
provinces since China’s economic reform. In
particular, Fujian’s economy maintained steady The Fujian government focuses its effort on
growth relative to the other provinces since the attracting foreign investment in 13 industries,
18th National Party Congress in 2012, indicating namely electronics and information technology,
that the significant contribution that comes machinery equipment, petrochemicals,
from infrastructure upgrade, service sector and metal processing, shipbuilding, new energy,
technology advancement to the provincial economy. pharmaceutical (traditional Chinese medicine),
logistics, new material, construction material and
In 2018, Fujian ranked 10th out of China’s 31 textile. Tourism development is also a focus in
provinces by size of economy. Up from 22th in the government’s work report, with emphasis on
1978, Fujian has been one of the fastest growing its natural and relatively unpolluted environment
provinces since China’s economic reform. In such as Wuyi Mountain, Gulangyu Isle, and Taining
particular, Fujian’s economy maintained steady Golden Lake. In 2018, Fujian received 451.4 million
growth relative to the other provinces since the (+20.3%) domestic tourists with tourism receipts
18th National Party Congress in 2012, indicating of RMB603.2 billion (+32.0%) and 9.01 million
that the significant contribution that comes (+16.2%) non-mainland tourists with foreign
from infrastructure upgrade, service sector and exchange income of US$9.9 billion (+19.8%).
technology advancement to the provincial economy.
Similar to Guangdong, its coastal position
By industry, Fujian’s economy is dominated by and strong connections to Taiwan made Fujian
the manufacturing sector which accounted for an export-facing province. In 2018, merchandize
close to half of the economy. It includes traditional exports amounted to 21.3% of Fujian’s GDP, below
industries such as leather products, mineral only Guangdong and the Yangtze delta provinces.
products, agricultural non-staple food processing, Major export markets included the US, Hong
and textile. The role of traditional industries such Kong, Japan, the Philippines, Taiwan and Germany.
as petrochemicals and machinery production Fujian’s major export items included machinery
(including automobiles and sea vessels), as well and transport equipment, clothing and accessories
as ferrous and non-ferrous metal, textiles, and and footwear. Thanks in part to its proximity and
garment production remains strong. In the service historical connections with Taiwan, Fujian is also
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