Sanya Business Guide - Economic Overview

Sanya Business Guide - Economic Overview


Vital Statistics (2006)

GDP: RMB10.89 billion
GDP per Capita: RMB 20,973
Economic Growth Rate: 14.5%
Population: 0.25 million (urban) - 0.29 million (rural)
Annual Average Wage: RMB16, 661
FDI: US$110 million

Economic Overview

Sanya is the most famous tropical coastal tourism city in China, situated on the southern island Province of Hainan with spectacular sandy, white beaches at Yalong Bay, Dadong Hai and Sanya Bay attracting visitors from all over the country. Sanya is known for its ten natural wonders: sunshine, the sea, beaches, great weather, forests, animals, fountains, caves, native inhabitants and gardens. In 2006, 4.6 million vacationers came to play along Sanya's coast and brought their wallets with them, allowing Sanya to bring in total tourism revenues of 6.54 billion RMB.

After a slight adjustment in the mid and late 1990s, the rapid development of the tourism industry has catapulted the city's economy into a new period of growth, maintaining annual double-digit increases after the turn of the new millennium. In 2006, the Gross Domestic Product (GDP) of Sanya was 10.89 billion RMB, up by 14.5 percent over the previous year. GDP per capita was 20,973 RMB and the total sum of fixed capital investment has reached 7.09 billion RMB.



Economic Contribution Ratios by Sector
In 2006, the economic contribution ratio to GDP of the primary industries in Sanya including agriculture, forestry, animal husbandry and the fisheries was 28.5%; the contribution ratio of the secondary manufacturing and value added industries was 23.5% and that of the tertiary industries including tourism and services was 48.0%. 

Composition of GDP (%)

Sector

1987

2000

2006

Primary

44.4

41.5

28.5

Secondary

23.0

21.4 

23.5

Tertiary

32.6

37.1

48.0

 
Festival, the Asia Open Golf Tournament, the New Silk Road Chinese Fashion Competition, the Happy Festival for Chinese Youth and the Sanya International Wedding Celebration Festival at the End of the Earth (Tianya Haijiao). The city has also gained a reputation of being one of China's most glamorous cities, as Sanya has held the 53rd, 54th and 55th Miss World Finals, the 14th GForeign Trade Overview

Sanya is a young city that was established in 1984 in the south of Hainan, yet its status as a foreign trade hub is increasingly being solidified with import/export volumes up by 11.2% over the previous year to US$58.9 million in 2006. Exports were up 12.6% to US$41 million and import volume was up 8.0% to US$17.93 million, resulting in a net trade surplus of about US$23 million. Sanya's major exports include aquatic products, pharmaceuticals and fashion accessories. The major export markets are Hong Kong, Taiwan, the US, Japan and the EU, while major import sources were the US, Japan and Taiwan. Major import products included mechanical equipment, appliances and electrical products.

Foreign Trade and Cultural Ties
1. Sanya is actively establishing friendly relationships with foreign cities and at present, has twinned with Alhambra in the US, Lapu-Lapu City in the Philippines, and Cannes in France. Other cities such as Kanazawa City in Japan, the Gold Coast in Australia and Miami in the US are set to become sister cities of Sanya as well.

2. Sanya, a seaside garden city, has won several distinguished awards including National Garden City, National Green City, National Model City for Environment Protection and Best Tourist City in China for its fresh air, clear sky, beautiful appearance, standardized and efficient city management, convenient transportation and continually developing economy.

3. In order to enhance its image and promote the city's tourism sector, the Sanya Municipal Government holds a number of important events, festivals and activities such as the China Nanshan Longevity Cultureolden Pheasant and One Hundred Flowers Award Ceremonies for Chinese Cinema and hosted the lavish party for the 100th Anniversary of the Birth of Chinese Cinema.

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