Page 90 - 2021 Special Report
P. 90
Fujian
The Economy The Fujian government focuses its efforts on
attracting foreign investments in 13 industries,
Fujian is located in the south-eastern namely electronics and information technology,
coast of the mainland, opposite machinery equipment, petrochemicals,
to Taiwan. It has a total area of 121,400 sq km. metal processing, shipbuilding, new energy,
Its total population was 39.7m in 2019. Southeast pharmaceuticals (traditional Chinese medicine),
Fujian comprises five cities and counties – Fuzhou, logistics, new materials, construction materials
Xiamen, Putian, Quanzhou and Zhangzhou, and is and textiles. Tourism development is also a
the economic hub of Fujian, accounting for 77.1% focus in the government’s work report, with an
of the province’s GDP in 2019. emphasis on its natural and relatively unpolluted
environment such as Wuyi Mountain, Gulangyu
In 2019, Fujian ranked 8th out of China’s 31 Isle and Taining Golden Lake. In 2019, Fujian
provinces by economic size. Up from 22nd in received 526.97 million (+16.7%YoY ) domestic
1978, Fujian has been one of the fastest growing tourists with tourism receipts of RMB739.34 billion
provinces since China’s economic reform. In (+22.6%YoY ), and 9.58 million (+6.3%YoY ) non-
particular, Fujian’s economy maintained steady mainland tourists with foreign exchange income
growth relative to the other provinces since the of US$10.24 billion (+12.7%YoY).
18th National Party Congress in 2012, indicating
the significant contributions from infrastructure Like Guangdong, its coastal position and strong
upgrade, service sector and technology connections to Taiwan make Fujian an export-
advancement to the provincial economy. facing province. In 2019, merchandized exports
amounted to 19.5% of Fujian’s GDP, below only
Fujian’s economy maintains a strong Guangdong and Yangtze delta provinces. Fujian’s
manufacturing sector that includes not only more major export items included machinery and
traditional industries such as chemical processing transport equipment, clothing and accessories
and textile, but also computers, communications and footwear. Thanks in part to its proximity and
and other electronic equipment manufacturing historical connections with Taiwan, Fujian is also
and pharmaceuticals as well. Meanwhile, tertiary one of the leading recipients in terms of foreign
industries have been driving Fujian’s economic direct investments.
expansion with notable growth in leasing and
business services, real estate, and rapidly emerging Fig 8 Fujian ranked 8th by size of economy
information technology and technical services.
Note: As of 2019
In 2018, the latest year available, Fujian’s Source: Wind
value-added of hi-tech industries increased by
16.9%YoY. The electronics industry is particularly
concentrated in Fuzhou, which as one of the
world’s largest production bases for LCD display
screens, and is also home to world famous tech
enterprises including TPV Technology, Castech and
Rockchip Semiconductors.
90
The Economy The Fujian government focuses its efforts on
attracting foreign investments in 13 industries,
Fujian is located in the south-eastern namely electronics and information technology,
coast of the mainland, opposite machinery equipment, petrochemicals,
to Taiwan. It has a total area of 121,400 sq km. metal processing, shipbuilding, new energy,
Its total population was 39.7m in 2019. Southeast pharmaceuticals (traditional Chinese medicine),
Fujian comprises five cities and counties – Fuzhou, logistics, new materials, construction materials
Xiamen, Putian, Quanzhou and Zhangzhou, and is and textiles. Tourism development is also a
the economic hub of Fujian, accounting for 77.1% focus in the government’s work report, with an
of the province’s GDP in 2019. emphasis on its natural and relatively unpolluted
environment such as Wuyi Mountain, Gulangyu
In 2019, Fujian ranked 8th out of China’s 31 Isle and Taining Golden Lake. In 2019, Fujian
provinces by economic size. Up from 22nd in received 526.97 million (+16.7%YoY ) domestic
1978, Fujian has been one of the fastest growing tourists with tourism receipts of RMB739.34 billion
provinces since China’s economic reform. In (+22.6%YoY ), and 9.58 million (+6.3%YoY ) non-
particular, Fujian’s economy maintained steady mainland tourists with foreign exchange income
growth relative to the other provinces since the of US$10.24 billion (+12.7%YoY).
18th National Party Congress in 2012, indicating
the significant contributions from infrastructure Like Guangdong, its coastal position and strong
upgrade, service sector and technology connections to Taiwan make Fujian an export-
advancement to the provincial economy. facing province. In 2019, merchandized exports
amounted to 19.5% of Fujian’s GDP, below only
Fujian’s economy maintains a strong Guangdong and Yangtze delta provinces. Fujian’s
manufacturing sector that includes not only more major export items included machinery and
traditional industries such as chemical processing transport equipment, clothing and accessories
and textile, but also computers, communications and footwear. Thanks in part to its proximity and
and other electronic equipment manufacturing historical connections with Taiwan, Fujian is also
and pharmaceuticals as well. Meanwhile, tertiary one of the leading recipients in terms of foreign
industries have been driving Fujian’s economic direct investments.
expansion with notable growth in leasing and
business services, real estate, and rapidly emerging Fig 8 Fujian ranked 8th by size of economy
information technology and technical services.
Note: As of 2019
In 2018, the latest year available, Fujian’s Source: Wind
value-added of hi-tech industries increased by
16.9%YoY. The electronics industry is particularly
concentrated in Fuzhou, which as one of the
world’s largest production bases for LCD display
screens, and is also home to world famous tech
enterprises including TPV Technology, Castech and
Rockchip Semiconductors.
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