Major Economic Indicators (2007)
| Land Area |
4,071 km2
|
|
Population
|
1.3 million
|
|
GDP
|
RMB 55.4 billion (US$7.4 billion), 8.1% up
|
|
GDP Composition
|
|
Primary Industry (Agriculture)
|
10.2%
|
|
Secondary Industry
(Industry & Construction)
|
72.0%
|
|
Tertiary Industry (Service)
|
17.8%
|
|
GDP Per Capita
|
RMB 42,290 (US$5,623)
|
|
Unemployment Rate
|
2.2%
|
|
Fixed Asset Investment
|
RMB 27.2 billion (US$3.6 billion), 34.3% up
|
|
Utilized FDI
|
US$26.2 million, 27.8% up
|
|
Total Import & Export
|
US$270 million, 73.9% up
|
|
Export
|
US$206 million, 100.0% up
|
|
Import
|
US$65.0 million, 20.6% up
|
|
Sales of Consumer Goods
|
RMB 26.6 billion (US$3.5 billion), 72.4% up
|
Source: Panjin Economic and Social Development Report 2007
Introduction
Panjin is located in the southwestern part of Liaoning Province. It covers an area of 4,071 sq km. The population of the city amounted to 1.3 million by the end of 2007.
Panjin has a temperate semi-humid continental monsoon climate with plenty of sunshine and four distinct seasons. The average temperature is 8.6 Celsius, while the average annual precipitation reaches approximately 620 mm.
Panjin is rich in mineral resources. Liaohe Oilfield, the third largest oilfield in China in terms of oil output, is located in Panjin. The annual oil output of Liaohe Oilfield amounts to approximately 12 million tons. In addition, since Panjin is adjacent to Bohai Sea, it is also replete with aquatic products. Reserves of fish, shrimp, and crab resources amount to approximately 40,000-50,000 tons, contributing 70% to Liaodong Bay's total.
Transportation in Panjin is very convenient. Shenyang, capital of Liaoning Province, is 155 km from Panjin. The Beijing-Shenyang Expressway, the Panjin-Haicheng Expressway, and the Qinhuangdao-Shenyang Railway run through the city.
Economic Features
Panjin realized GDP of RMB 55.4 billion in 2007, representing a rise of 8.1% year on year. The city's GDP accounted for approximately 5.0% of Liaoning's total and ranked fifth out of fourteen prefecture-level cities in the province.
The agricultural sector, which is the smallest contributor to the city's economy, generated value-added industrial output of RMB 5.6 billion in 2007, accounting for only 10.2% of the city's GDP.
In 2007, the value-added industrial output of secondary industry (industry and construction) amounted to RMB 39.9 billion and accounted for 72.0% of the city's total.
The industrial sector realized value-added industrial output of RMB 37.4 billion, contributing 93.8% to the secondary sector's total, while value-added industrial output of industrial enterprises with designated size or above increased by 6.3% to RMB 34.9 billion, contributing 93.3% to the industrial sector's total.
Petroleum and natural gas exploration and processing, chemicals, pharmaceuticals, equipment manufacturing and agriculture and sideline products processing are the pillar industries of Panjin. As a whole, they realized gross industrial output of RMB 77.4 billion in 2007, contributing 87.9% to the total generated by industrial enterprises with designated size or above.
In 2008, Liaohe Oilfield, which has newly proven oil reserves of 33.4 million tons, realized oil output of 12.1 million tons.
Panjin-based Liaoning Huajin Tongda Chemicals Company<000059>, which is listed on the Shenzhen Stock Exchange and is principally engaged in the manufacture and sale of chemical fertilizers, realized net profit of RMB 385 million in 2008, representing a rise of 60.3% year on year.
In 2007, the service sector generated value-added industrial output of RMB 9.9 billion, contributing 17.8% of the city's GDP.
Tourism is important for the city's service sector. During 2007, 7.7 million tourists visited the city, up 67.3% year on year, while tourism income totaled RMB 5.3 billion, rising 69.9% compared to the previous year.
The total import and export value of Panjin amounted to US$270 million in 2007, with a sharp rise of 73.9% over the previous year. Exports rose 100.0% to US$206 million, while imports increased by 20.6% to US$65.0 million. India, South Korea, Azerbaijan, Bangladesh, and Pakistan are the primary trading partners of the city.
Cultural Highlights
Evidence of Neolithic humans was found in Panjin. Typical Hongshan cultural implements such as stone axes indicate that as early as 5,000 years ago, people living here were able to use fire and make tools.
Famous patriot and supporter of anti-Japanese aggression war general, Zhang Xueliang, was born in Panjin in 1901.
Tourist Attractions
Famous as a land of plenty, Panjin is replete with fish and rice. In addition, there are a lot of tourist attractions including plains, rice fields, reed seas, grasslands, and derricks. Rare birds and rivers make Panjin as beautiful as a painting.
Red Beach Scenery Area was given an AAAA rating (the second highest level in China). In September every year, the plants that cover the beach turn deep red.
In Panjin, little crab and local rice are high quality, popular products.
