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Profiles of China Provinces, Cities and Industrial Parks



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Content provided by :  China Knowledge
   
12 Sept 2011
Xinyu ( Jiangxi ) City Information

Major Economic Indicators (2010)

Land Area (km2) 3,718
Population (million) 1.1
GDP (RMB billion) 48.4
GDP Composition
Primary Industry 6.9%
Secondary Industry
(Industry & Contruction)		 58.5%
Tertiary Industry (Service) 34.6%
GDP Per Capita (RMB) 42,606
Unemployment Rate 3.4%
Fixed Asset Investment (RMB billion) 50.7
Utilized FDI (USD million) 428
Total Import & Export (USD million) 2,380
Export (USD million) 1,047
Import (USD million) 1,333
Sales of Consumer Goods (RMB billion) 9.5
Source Source: Xinyu Economic and Social Development Report 2009

   

 
Introduction
 

Xinyu is seated in the mountainous and hilly area in the west part of Jiangxi Province. Nanchang, the provincial capital city of Jiangxi Province, is located 150 km northeast of the city, while Yichun and Ji’an are located to its north and south. It covers an area of 3,178 sq km and has a population of 1.1 million.

The city has well-established traffic network. Regular trains connect Xinyu with Shanghai, Chengdu, Guangzhou, Wenzhou, Fuzhou and other domestic cities. Ganyue Highway (which runs from Jiangxi to Guangdong) and Shanghai-Ruijin Highway, linked with many province-level highways, construct a comprehensive highway network in Xinyu.

Xinyu enjoys a subtropical humid climate, with four distinct seasons. The rainy season usually falls in the period from June to July.
 
Economic Features
 
Xinyu is the fourth smallest economy in Jiangxi in terms of GDP in 2009. The city's GDP stood at RMB 48.4 billion in 2009, up 13.5% year on year. The private sector generated value-added output of RMB 29.6 billion, comprising 61.2% of the city's GDP.

The industrial sector, largest contributor to Xinyu's economy, realized value-added output of RMB 28.3 billion in 2009, contributing 58.5% to the city's GDP. The service sector and the agricultural sector, with value-added output of RMB 16.8 billion and RMB 3.3 billion, contributed 34.6% and 6.9% to Xinyu's economy, respectively.

Iron and steel, solar wafers, new materials and electric power production and supply are the main industries in the city. The value-added industrial output from these industries rose 18.3% from a year earlier to RMB 17 billion in 2009, accounting for 74.9% of the city's total.

Xinyu is a major iron and steel products hub for Jiangxi Province. In 2009, the city produced 6.85 million tons of crude steel and 6.58 million tons of steel-related products, respectively.

Xinyu Iron & Steel, listed on Shanghai Stock Exchange in 2007, is a leading iron and steel maker in Jiangxi Province. In the first half of 2010, the company’s sales revenue and net profit amounted to RMB 16.6 billion and RMB 281.71 million, respectively.  

LDK Solar was set up in Xinyu in 2005 with registered capital of US$111 million. It is the largest multi-crystalline solar wafer maker in China. It went public on the New York Stock Exchange in 2007.

In 2009, the sales of consumer goods in Xinyu reached RMB 9.5 billion, representing an increment of 19.6% compared with the previous year. It is the second smallest consumer market in the province.

The foreign trade value in the city decreased 43.1% to US$2.38 billion in 2009, ranking second in Jiangxi Province, after Nanchang. The export value hit US$1.05 billion, decreased 46.4% year on year, while the import value was US$1.33 billion, decreased 40.6% year on year. Mechanical and electronic products, textiles and garments are the main export products from Xinyu. The nations and regions in Asia remain the major export destinations.

Xinyu attracted utilized FDI of US$428 million in 2009, featuring a sharp rise of 15.2% from 2008.
 
Cultural Highlights
 

Xinyu has a history of over 5,000 years. Primitive humans started living in this territory in the Neolithic Age. During the Qin Dynasty (221BC-206BC), the area belonged to Jiujiang Shire. In AD267, Xinyu County was set up in the region, as the Yushui River traverses the city. In 1960, Xinyu City was established to boost the development of iron and steel manufacturing industry in the region.
 
Tourist Attraction
 

Fairy Lake Scenic Resort, located 17km from the city center, is the top tourist destination in Xinyu. It covers an area of 198 sq km and includes 5 scenic zones: Wolong Lake, Zhongshan Valley, Qianyang Lake, Dagang Mountain, and Jiulong Bay. The scenic resort contains many karst caves, islands and stone inspirations. Travelers should also visit Hongyang Ancient Cave, Changshan Old Temple, Yansong Wannian Bridge and Kui Xing Tower as well.

Xinyu has many delicate local dishes, such as spicy duck head, Shui Bei Tofu and Fairy Lake Fish, among which spicy duck head is the most famous. It is a kind of braised duck meat, which is cooked with chilli, ginger, garlic, sesame oil and other ingredients.

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