Shijiazhuang Business Guide - Economic Overview

Shijiazhuang Business Guide - Economic Overview

Vital Statistics (2006)

GDP:   RMB 206.4 billion
GDP per Capita:   RMB 21,969
Economic Growth Rate:   13.2%
Population:   2.31 million (urban) – 7.08 million (rural)
FDI:   US$494 million
Annual Average Wage:  RMB 19,573
Government Effectiveness Rating:   42nd
2006 Chinese Cities Competitive Rating:   46th

Economic Overview
Shijiazhuang, is located about 280 kilometers south of Beijing and is the center of politics, economics, culture, science, technology and finance in Hebei Province. It is also an important city within the economic circle of Bohai Bay. Shijiazhuang is promoting itself as the "Pharmaceutical Center of China", a "National Textile Base", an "Important Commercial Port in North China" and a "Regional Hi- Tech Industrial Center".

Shijiazhuang's GDP reached 206.4 billion RMB in 2006, up by 13.2% and ranking 43rd among all Chinese cities. The city's fiscal revenue climbed to 19.01 billion RMB, enabling the city to concentrate on improving infrastructure for its high-growth sectors and continue its modernization drive, which is credited with bringing in record foreign direct investment in 2006.

The private sector economy has developed at an accelerated rate over the past 3 years culminating in total private sector industrial output of 117 billion RMB in 2006. The private sector has become an important factor in the city's economic development and social stability, accounting for 46% of the city's fiscal revenue.

In 2006, total fixed capital investment reached 109.6 billion RMB, with investment in the primary industries of 1.7 billion RMB, investment in the secondary industries of 44.7 billion RMB and in that of the tertiary sector amounting to 53.3 billion RMB.

Economic Contribution Ratios by Sector
In 2006, the economic contribution ratio of the primary industries including agriculture, forestry, animal husbandry and the fisheries was 12.3% of total GDP; the contribution ratio of the secondary industries including manufacturing and the value added sector was 49.7% and that of tertiary industries was 38.0%. 

Composition of GDP (%)


















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