Page 88 - 2020 Special Report on the State of Business in South China
P. 88
RMB t In particular, Fujian’s economy maintained steady growth relative to the other provinces
since the 18th National Party Congress in 2012, indicating that the significant contribution
that comes from infrastructure upgrade, service sector and technology advancement to the
provincial economy.
Fig 8FFiguj8ianFurjiaann kraendke1d01t0hthbbyyssiizzee ooffeecocnoonmoymy
GDP
10
9
8
7
6
5
4
3
2
1
0
Guangdong
Jiangsu
Shandong
Zhejiang
Henan
Sichuan
Hubei
Hunan
Hebei
Fujian
Shanghai
Beijing
Anhui
Liaoning
Shaanxi
Jiangxi
Chongqing
Guangxi
Tianjin
Yunnan
Inner Mongolia
Shanxi
Heilongjiang
Jilin
Guizhou
Xinjiang
Gansu
Hainan
Ningxia
Qinghai
Tibet
Note: As of 2018
SouNrcoe:teW:inAds of 2018
Source: Wind
By industry, Fujian’s economy is dominated by the manufacturing sector which accounted
for close to half of the economy. It includes traditional industries such as leather products,
mineral products, agricultural non-staple food processingf,oarnddistetrxitciltes. Tahnedrociletieosf ttrhadaittiohnaavle achieved steady
one ionfduthsterielesasduicnhgarsepceiptrioecnhtesminicatlesramnsd omfafcohrineeigrynproducgtrioonw(tihncalunddincgomauptolemtoiobnil.es and
direcsteinavveesstsmeelsn),tsa.s well as ferrous and non-ferrous metal, textiles, and garment production
- Promoting the development of strategic
Recent Policies and Reforms emerging industrial clusters. For districts and
cities with industrial characteristics, strong
innovation capabilities and strong industrial
Measures to Establish a Positive Incen- foundations, the priority is to strive for inclusion
tive Mechanism to Promote High-quality in national strategic emerging industrial cluster
Economic and Social Development development projects, key provincial projects and
strategic emerging industry projects.
On April 9, 2019, the People's Government of
Fujian Province issued the “Notice on Measures - For districts and cities with higher import and
to Establish a Positive Incentive Mechanism export volumes, import and export increments,
to Promote High-quality Economic and Social etc., implementing foreign trade import and
Development” (the "Fujian Incentive Notice"). export performance rewards.
The Fujian Incentive Notice encourages
local officials to promote entrepreneurship, - Encouraging local governments to increase
promote proactive action and competitive financial services to the real economy. Newly
development, further improve and expand the issued corporate bonds are used in the
coverage of incentive policies, and enhance construction of urban public facilities and special
the pertinence and effectiveness of incentive small-town public facilities, and discount interest
measures. Relevant measures should be taken will be given to debt-issuing companies according
to encourage and support departments with to their bond issuance scale.
effective implementation of relevant major
policies and measures. Measures to Further Promote
Consumption Growth
New initiatives include:
On September 16, 2019, the People's
- Supporting districts and cities to promote Government of Fujian Province issued the “Notice
high-quality development and implement catch- on Measures to Further Promote Consumption
up measures and provide district-level rewards Growth" (the "Fujian Consumption Notice"). The
88
since the 18th National Party Congress in 2012, indicating that the significant contribution
that comes from infrastructure upgrade, service sector and technology advancement to the
provincial economy.
Fig 8FFiguj8ianFurjiaann kraendke1d01t0hthbbyyssiizzee ooffeecocnoonmoymy
GDP
10
9
8
7
6
5
4
3
2
1
0
Guangdong
Jiangsu
Shandong
Zhejiang
Henan
Sichuan
Hubei
Hunan
Hebei
Fujian
Shanghai
Beijing
Anhui
Liaoning
Shaanxi
Jiangxi
Chongqing
Guangxi
Tianjin
Yunnan
Inner Mongolia
Shanxi
Heilongjiang
Jilin
Guizhou
Xinjiang
Gansu
Hainan
Ningxia
Qinghai
Tibet
Note: As of 2018
SouNrcoe:teW:inAds of 2018
Source: Wind
By industry, Fujian’s economy is dominated by the manufacturing sector which accounted
for close to half of the economy. It includes traditional industries such as leather products,
mineral products, agricultural non-staple food processingf,oarnddistetrxitciltes. Tahnedrociletieosf ttrhadaittiohnaavle achieved steady
one ionfduthsterielesasduicnhgarsepceiptrioecnhtesminicatlesramnsd omfafcohrineeigrynproducgtrioonw(tihncalunddincgomauptolemtoiobnil.es and
direcsteinavveesstsmeelsn),tsa.s well as ferrous and non-ferrous metal, textiles, and garment production
- Promoting the development of strategic
Recent Policies and Reforms emerging industrial clusters. For districts and
cities with industrial characteristics, strong
innovation capabilities and strong industrial
Measures to Establish a Positive Incen- foundations, the priority is to strive for inclusion
tive Mechanism to Promote High-quality in national strategic emerging industrial cluster
Economic and Social Development development projects, key provincial projects and
strategic emerging industry projects.
On April 9, 2019, the People's Government of
Fujian Province issued the “Notice on Measures - For districts and cities with higher import and
to Establish a Positive Incentive Mechanism export volumes, import and export increments,
to Promote High-quality Economic and Social etc., implementing foreign trade import and
Development” (the "Fujian Incentive Notice"). export performance rewards.
The Fujian Incentive Notice encourages
local officials to promote entrepreneurship, - Encouraging local governments to increase
promote proactive action and competitive financial services to the real economy. Newly
development, further improve and expand the issued corporate bonds are used in the
coverage of incentive policies, and enhance construction of urban public facilities and special
the pertinence and effectiveness of incentive small-town public facilities, and discount interest
measures. Relevant measures should be taken will be given to debt-issuing companies according
to encourage and support departments with to their bond issuance scale.
effective implementation of relevant major
policies and measures. Measures to Further Promote
Consumption Growth
New initiatives include:
On September 16, 2019, the People's
- Supporting districts and cities to promote Government of Fujian Province issued the “Notice
high-quality development and implement catch- on Measures to Further Promote Consumption
up measures and provide district-level rewards Growth" (the "Fujian Consumption Notice"). The
88
