Xiamen FTZ records GDP of 39.02b yuan in H1
The Xiamen Area of the China (Fujian) Pilot Free Trade Zone in Xiamen, East China's Fujian province, recorded a GDP of 39.02 billion yuan ($5.85 billion) in the first half of 2021, up 21.6 percent year-on-year, while the average annual growth rate for the past two years stands at 12.5 percent.
A total of 623 new business projects were launched in the zone, with total investment reaching 86.1 billion yuan and registered capital hitting 34.92 billion yuan. The new enterprises have contributed over one fourth of the zone's tax revenue over the past two years.
In June, the city was approved by the State Administration of Foreign Exchange to launch new types of offshore international trade.
The remarkable results are due to Xiamen's efforts to stabilize its supply chains. The city has been officially selected as one of China's top 10 supply chain innovation and application demonstration cities.
Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.