Guilin Business Guide - Economic Overview

Guilin Business Guide - Economic Overview


GDP: RMB 61.9 billion
GDP per Capita: RMB 12,452
Economic Growth Rate: 13.7%
Population: 744.2 thousand (urban) – 4.25 million (rural)
FDI: US$67.43 million 
Annual Average Wage: RMB 19,630
Government Effectiveness Rating: 63rd
2006 Chinese Cities Competitive Rating: 104th

Economic Overview
Guilin is a well-known international tourist destination and a historic cultural city with rich natural resources, beautiful natural landscapes and places of interest that attract over 10 million tourists every year including more than 1 million overseas visitors. The increasing number of tourists has promoted the rapid development of the city' s tourism trade and related facilities.

Among the 11 cities nominated by the National Construction Department as pilot eco-garden cities, Guilin is the only city from southwest China. Since 1991 Guilin has received many accolades and honorary titles including ''Outstanding Travel City'', ''National Healthy City'', ''National Forest City'', ''National Cultured and Civilized City'' and the ''Guangxi Zhuang Autonomous Region Botanical Garden City.''

Although tourism dominates the list of Guilin' s strategic industries, generating almost 30% of revenue in 2006, the city has strong industrial capabilities in several other sectors, notably equipment manufacture, automotive, electronics and IT, and pharmaceuticals and medical instruments. Investors from the US, the UK, France, Finland, South Korea, Japan, Hong Kong and Taiwan have established joint venture companies in Guilin. Mobile phone giant Nokia recently established a branch in the city and has experienced rapid development of its local operations. The city' s economic development zones have been highly successful in attracting productive businesses: there are over 900 enterprises operating in the Guilin High and New-Tech Industrial Development Zone alone.

In 2006, Guilin' s GDP totaled 61.91 billion RMB, up by 16.3% from 2005. The added value industrial output of primary, secondary and tertiary industries reached 13.41 billion RMB, 25.59 billion RMB and 22.91 billion RMB respectively. The city' s secondary industries have become the main vehicle for Guilin' s economic development. In 2006, the city' s GDP ranked 97th among all Chinese cities and the city experienced an increase in investment in fixed assets, reaching a total of 26.09 billion RMB.

The city' s economic development plans envisage building on its current strengths and developing an industrial orientation towards hi-tech electro-mechanical products, traditional Chinese medicines and agro-products.



Economic Contribution Ratios by Sector
In 2006, the economic contribution ratio of the primary industries including agriculture, forestry, animal husbandry and the fisheries, represented 21.7% of GDP; the economic contribution ratio of the secondary and value-added industries and construction represented 41.3%; while the economic contribution ratio of the tertiary sector represented 37.0%.

Composition of GDP (%)
 

Sector

2000

2003

2006

Primary

43.1

28.5

21.7

Secondary

15.5

32.4

41.3

Tertiary

41.4

39.1

37.0

 

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