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Economic Structure

xmtdc.gov.cn| Updated: March 12, 2021 L M S

The GDP of Xiamen, East China's Fujian province increased 5.7 percent year-on-year to more than 638.4 billion yuan ($98.83 billion) in 2020, the city's statistics bureau released on Jan 29.

Among this, the added value of the primary, secondary, and tertiary sectors totaled 2.89 billion yuan, 251.98 billion yuan, and 383.53 billion yuan, growing by 2.5 percent, 6.1 percent, and 5.5 percent year-on-year respectively.

Agricultural production in the city remained stable last year, with the total value of its agricultural output totaling 6.1 billion yuan, up 2.3 percent year-on-year.

Xiamen's total added value of industrial enterprises above designated size grew by 6 percent year-on-year. The total profit of industrial enterprises above designated size amounted 44.55 billion yuan, a year-on-year increase of 28.9 percent.

High-tech industries played a major role in driving the city's industrial growth, which accounted for 39.8 percent of Xiamen's total added value of industrial enterprises above designated size.

The service sector in Xiamen showed fast growth last year, generating an added value of 383.53 billion yuan, expanding by 5.5 percent year-on-year.

The city's fixed-asset investment grew by 8.8 percent, despite a 22.8 percent decline from the beginning of last year.

The total retail sales of consumer goods rose by 1.6 percent year-on-year to 229.39 billion yuan last year, 11.8 percent higher over the beginning of the year.

Data showed that the city's foreign trade expanded 7.8 percent year-on-year to 691.58 billion yuan in 2020, the highest in history. 

The city's exports grew 1.2 percent year-on-year to 357.29 billion yuan last year, while its imports surged 16 percent year-on-year to 334.29 billion yuan, both of which were record highs and accounted for 49.3 percent of the province's total foreign trade.

In 2020, the people's living standards in Xiamen have improved significantly. The per capita disposable income of urban and rural residents were 61,300 yuan and 26,600 yuan, increasing by 3.9 percent and 7.3 percent year-on-year respectively. A total of 356,500 new jobs were created in the city last year, with the registered urban unemployment rate being within 3.8 percent.

Xiamen is the largest producer and exporter of tungsten products in the world, the largest producer of hearing aids and hearing equipment in the Asia-Pacific region and a major computer exporter and aircraft maintenance center in China.

Xiamen is one of China's biggest producers and sellers of digital audiovisual devices, capacitors, integrated circuit lead frames, relays and optoelectronic equipment.

The city is home to many famous national and international brand names such as Xoceco (Prima), Amoi, XGMA, King Long, Topstar, Cheng Shin, Yinlu, Huierkang, Gulong, Yinxiang, Wish and New Wish. Xiamen has gained competitive advantages in the country in various sectors, including engineering machinery, power distribution equipment, large and medium-sized buses, tungsten product processing and aircraft maintenance.

Why Xiamen

  • http://subsites.chinadaily.com.cn/swjen/2020-03/16/c_540483.htm
  • http://subsites.chinadaily.com.cn/swjen/2021-03/12/c_540484.htm