Page 90 - 2022 Special Report on the State of Business in South China
P. 90
ian
The Economy Market Highlights
Fujian i s L o c a t e d i n t h e s o u t h - Fujian’s economy maintains a strong
eastern coast of the Mainland manufacturing sector that includes not only
China. Xiamen SEZ, as the economic hub, is in traditional industries such as chemical processing
the southeast of Fujian. The total area of Fujian and textile, but also computers, communications
is around 124,000 square kilometers, with and other electronic equipment manufacturing
population at 41.5m in 202028. As one of the fastest and pharmaceuticals as well. The value-added
growing provinces since China’s economic reform, of computer, communication, and electronic
the economy size of Fujian ranked 7th in China equipment manufacturing industries increased by
with the GDP reached around RMB4.4 trillion 6.6% YoY in 202033. Recent years, Fujian focuses
(US$0.7 Trillion) in 202029. In the first half of 2021, more on the strategic emerging industries, including
Fujian continued to recover and progress steadily, new generation information technology, new
with the GDP achieving 12.3% YoY growth and an energy industry, new material industry, biology,
average increase of 6.2% in two years30. Having and new medicine industry, etc. The value-added of
more space to improve, Fujian sets economic these sectors increased by 4.5% YoY in 202034.
development goal as 7.5% GDP growth for 202131,
and then in the following journey of 14th Five-Year Tertiary industry is also the main driver of
Plan and Long-Range Objectives Through the Year Fujian’s economic expansion, in the first haft of
2035, Fujian aims to deliver high-quality, efficient, 2021, it reported value-added of RMB1.1 trillion,
and sustainable development on all fronts, and with 13.9% YoY growth35. Additionally, the service
speed up the transformation of innovation driven industry recovered rapidly, particularly the
economy and modern industrial system32. wholesale and retail, transportation and storage,
postal service, accommodation, as well as catering
Fig 8 Fujian ranked 7th out of China’s 31 provinces, sectors all increase by more than 20% YoY in the
by size of economy first half of 2021, while the operating income of the
culture, sports, and entertainment industry also
Source: Wind, EY analysis surge by 68.1% YoY36.
28 Government site and Statistics Bureau of The Fujian government makes its efforts on
Fujian, http://www.gd.gov.cn/, http://stats.gd.gov.cn/ attracting foreign investments in 13 industries, namely
29 Statistics Bureau of Fujian, http://tjj.fujian.gov. electronics and information technology, machinery
cn/xxgk/tjgb/202103/t20210301_5542369.htm equipment, petrochemicals, metal processing,
30 Government site of Fujian, https://fdi.swt. shipbuilding, new energy, pharmaceuticals (traditional
fujian.gov.cn/en/show-10846.html Chinese medicine), logistics, new materials,
31 Government site of Fujian, https://fujian.gov. construction materials and textiles. In 2020, Fujian’s
cn/szf/gzbg/zfgzbg/202102/t20210201_5529296.htm utilization of foreign investment reached RMB34.8
32 Government site of Fujian, https://fu-
jian.gov.cn/zwgk/zfxxgk/szfwj/szfgz/202103/ 33 Government site of Fujian, https://fujian.gov.
t20210319_5552893.htm cn/szf/gzbg/zfgzbg/202102/t20210201_5529296.htm
34 Government site of Fujian, http://tjj.fujian.gov.
90 cn/xxgk/tjgb/202103/t20210301_5542369.htm
35 Statistics Bureau of Fujian, http://tjj.fujian.gov.
cn/xxgk/jdsj/202107/t20210721_5652448.htm
36 Department of Commerce of Fujian, https://
fdi.swt.fujian.gov.cn/en/show-10673.html
The Economy Market Highlights
Fujian i s L o c a t e d i n t h e s o u t h - Fujian’s economy maintains a strong
eastern coast of the Mainland manufacturing sector that includes not only
China. Xiamen SEZ, as the economic hub, is in traditional industries such as chemical processing
the southeast of Fujian. The total area of Fujian and textile, but also computers, communications
is around 124,000 square kilometers, with and other electronic equipment manufacturing
population at 41.5m in 202028. As one of the fastest and pharmaceuticals as well. The value-added
growing provinces since China’s economic reform, of computer, communication, and electronic
the economy size of Fujian ranked 7th in China equipment manufacturing industries increased by
with the GDP reached around RMB4.4 trillion 6.6% YoY in 202033. Recent years, Fujian focuses
(US$0.7 Trillion) in 202029. In the first half of 2021, more on the strategic emerging industries, including
Fujian continued to recover and progress steadily, new generation information technology, new
with the GDP achieving 12.3% YoY growth and an energy industry, new material industry, biology,
average increase of 6.2% in two years30. Having and new medicine industry, etc. The value-added of
more space to improve, Fujian sets economic these sectors increased by 4.5% YoY in 202034.
development goal as 7.5% GDP growth for 202131,
and then in the following journey of 14th Five-Year Tertiary industry is also the main driver of
Plan and Long-Range Objectives Through the Year Fujian’s economic expansion, in the first haft of
2035, Fujian aims to deliver high-quality, efficient, 2021, it reported value-added of RMB1.1 trillion,
and sustainable development on all fronts, and with 13.9% YoY growth35. Additionally, the service
speed up the transformation of innovation driven industry recovered rapidly, particularly the
economy and modern industrial system32. wholesale and retail, transportation and storage,
postal service, accommodation, as well as catering
Fig 8 Fujian ranked 7th out of China’s 31 provinces, sectors all increase by more than 20% YoY in the
by size of economy first half of 2021, while the operating income of the
culture, sports, and entertainment industry also
Source: Wind, EY analysis surge by 68.1% YoY36.
28 Government site and Statistics Bureau of The Fujian government makes its efforts on
Fujian, http://www.gd.gov.cn/, http://stats.gd.gov.cn/ attracting foreign investments in 13 industries, namely
29 Statistics Bureau of Fujian, http://tjj.fujian.gov. electronics and information technology, machinery
cn/xxgk/tjgb/202103/t20210301_5542369.htm equipment, petrochemicals, metal processing,
30 Government site of Fujian, https://fdi.swt. shipbuilding, new energy, pharmaceuticals (traditional
fujian.gov.cn/en/show-10846.html Chinese medicine), logistics, new materials,
31 Government site of Fujian, https://fujian.gov. construction materials and textiles. In 2020, Fujian’s
cn/szf/gzbg/zfgzbg/202102/t20210201_5529296.htm utilization of foreign investment reached RMB34.8
32 Government site of Fujian, https://fu-
jian.gov.cn/zwgk/zfxxgk/szfwj/szfgz/202103/ 33 Government site of Fujian, https://fujian.gov.
t20210319_5552893.htm cn/szf/gzbg/zfgzbg/202102/t20210201_5529296.htm
34 Government site of Fujian, http://tjj.fujian.gov.
90 cn/xxgk/tjgb/202103/t20210301_5542369.htm
35 Statistics Bureau of Fujian, http://tjj.fujian.gov.
cn/xxgk/jdsj/202107/t20210721_5652448.htm
36 Department of Commerce of Fujian, https://
fdi.swt.fujian.gov.cn/en/show-10673.html
