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Profiles of China Provinces, Cities and Industrial Parks



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Content provided by :  China Knowledge
   
12 Sept 2011
Jinzhong ( Shanxi ) City Information

Major Economic Indicators (2010)

Land Area (km2) 16,400
Population (million) 3.1
GDP (RMB billion) 76.38
GDP Composition
Primary Industry 8.5%
Secondary Industry
(Industry & Contruction)
54.9%
Tertiary Industry (Service) 36.6%
GDP Per Capita (RMB) 24,275
Unemployment Rate 1.97%
Fixed Asset Investment (RMB billion) 49.5
Utilized FDI (USD million) 65.36
Total Import & Export (USD million) 230
Export (USD million) 222.72
Import (USD million) 7.28
Sales of Consumer Goods (RMB billion) 27.76
Source Source: Jinzhong Economic and Social Development Report 2010

   

 
Introduction
 

Jinzhong is home to the Jin Shang (businessmen of Jin), who have played an important role in Chinese commerce. Lying in the east-central part of Shanxi Province, it stands at the foot of the Taihang Mountains. It adjoins Taihang Mountains to the east, Taiyuan (the capital of Shanxi Province) across the Fenhe River to the west, Changzhi to the south and Yangquan to the north. It covers an area of 16,400 sq km and has a population of 3.1 million.

The city is a transportation hub for Shanxi Province. All the Taiyuan-Jiaozuo Railway, the Yangquan-Shexian Railway and the Shijiazhuang-Taiyuan Railway run through the city. The Taiyuan-Jiuguan Highway, the Datong-Yuncheng Highway, the Taiyuan-Changzhi Highway, State Highway 108, State Highway 208, State Highway 207 and State Highway 307, and 12 province-level highways make up the comprehensive highway network in the city. Taiyuan Wushu Airport is situated 15 km from the city center of Jinzhong.

With a temperate continental monsoon climate, Jinzhong has wet summers and dry, chilly winters. The average temperature in the city is about 9°C. Jinzhon enjoys rich mineral resources, such as gypsum ore, coal, iron ores and aluminum. Reserves of gypsum ore exceed 136 million tons, being the third largest in Shanxi. It has over 19.2 billion tons of coal reserves and 29 million tons of proven iron ore reserves.

 
Economic Features
 
In 2010, the city's GDP reached RMB 76.38 billion, representing a growth of 14% over the previous year, ranked fifth in the province.

The industrial sector, the largest sector, contributed 54.9% to the city's economy. The service sector contributed 36.6% to the city's economy. The value-added output from the agricultural sector comprised 8.5% of the city's GDP.

Total value-added industrial output of enterprises with designated size and above in the city rose 23% to RMB 36.93 billion. Heavy industry plays a vital role in the city's industrial sector. The valued-added industrial output from the city's heavy industry reached RMB 35.59 billion in 2010, with a rise of 26.7% year on year, while that from light industry amounted to RMB 1.83 billion, up 15.8% year on year. Heavy industry and light industry accounted for 93.5% and 6.5% of the value-added industrial output from enterprises with designated size and above in the city, respectively.

Coal mining and dressing, coking, chemicals, metallurgy, equipment manufacturing and textiles constitute the major industries in the city. The city produced 80.32 million tons of coal, 8.69 million tons of coke, 1.38 million tons of crude steel and 1.02 million tons of pig iron in 2010, respectively.

Antai Group, Fenxi Mining Group and China Coal Jiuxin Coke Chemicals Company are the leading players in the city's industrial sector. Antai Group, a listed company on the Shanghai Stock Exchange, was set up in 1993. It specializes in coke, pig iron, coal tar, chemicals and construction materials. In the first half of 2010, the group's operating revenue amounted to RMB 2.1 billion, while the net loss reached RMB 56.2 million.

Fenxi Mining Group, beginning with Fenxi Mining Bureau, is a leading coal miner in Shanxi. It has an annual coal production capacity of 10 million tons and an annual coal dressing capacity of 4 million tons.

The consumer market in Jinzhong is active. Sales of consumer goods rose 18.5% to RMB 27.76 billion, ranking fifth in the province. As a major tourism destination in Shanxi, Jinzhong attracted over 13.7 million domestic and foreign tourists in 2010. 

The foreign trade value in Jinzhong increased 43.7% to US$230 million in 2010, which consisted of export value of US$222.72 million and import value of US$7.28 million. It exported US$67.34 million worth of coke, US$33.62 million worth of malleable steel pipes and US$9.76 million worth of steel nails.

In 2010, the utilized FDI in the city amounted to US$65.36 million. The U.S.-headquartered Days Inn Group, a leading hotel chain, opened a hotel in Jinzhong Economic and Technological Development Zone in 2006.
 
Cultural Highlights
 

Jinzhong's history extends to 30,000 years ago. During the Shang Dynasty, cities and towns emerged in this territory. In the Spring-and-Autumn Period (770BC-476BC), a county-level administration was set up in Jinzhong. Then counties and shires were set up there subsequently.

Jinzhong is home to the businessmen of Jin. During the 17th, 18th, and 19th centuries, the businessmen of Jin set up businesses throughout China, even in Japan, Russia, Mongolia and regions in West Asia. Jinzhong is the origin place of China's financial industry. In 1824, the first financial institution of China, "Ri Sheng Hao", was set up in Jinzhong.

 
Tourist Attraction
 

Jinzhong has great many scenic spots. The Ancient City of Pingyao has a history of over 1,500 years. It is also called the "turtle city", because turtles are a symbol of longevity. It consists of 4 major streets, 8 lesser streets and 72 lanes. The South Street, also known as the Ancient Ming and Qing Street, is the commercial center of Pingyao, with stores of Ming and Qing architectural styles standing on both sides. Qiao Jia Da Yuan (the Qiao Family's Compound) is located in Qiaojiabao Village 12 km northeast of Qixian County. The compound was first built by Qiao Zhiyong, a famous businessman during the Qing Dynasty (AD1644-1911). It covers about 10,642 sq m. It is an architectural collection of 6 large buildings, and 20 small buildings, with a total of 313 rooms. Jinzhong has many other large family compounds, including Qu's Compound.

Jinzhong has many characteristic local dishes, such as Guan Chang (a kind of floor food eaten with different-flavored sauces), Bean-Curd, and Pearl Soup (made of green beans and rice).

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