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Anhui: Market Profile

Major Economic Indicators

Economic Indicators2015Jan-Nov 2016
ValueGrowth
(%, y-o-y)
ValueGrowth
(%, y-o-y)
Gross Domestic Product (RMB bn)2,200.68.711,713.238.71
Per Capita GDP (RMB)35,9977.71
Added Value Output
   Primary industry  (RMB bn)245.74.21150.232.81
   Secondary industry (RMB bn)1,094.78.31833.83 8.11
   Tertiary industry (RMB bn)860.210.81729.2310.81
Value-added Industrial Output2 (RMB bn)958.98.61905.0 8.71
Fixed-assets Investment (RMB bn)2,396.612.72,406.611.6
Retail Sales (RMB bn)890.812.0725.7312.2
Inflation (Consumer Price Index, %)1.31.8
Exports (US$ bn)32.32.524.4-11.5
   By foreign-invested enterprises (US$ bn)8.1-2.86.9-5.4
Imports (US$ bn)15.7-11.313.90.2
   By foreign-invested enterprises (US$ bn)4.7-15.54.610.0
Utilised Foreign Direct Investment (US$ bn)13.610.413.88.5

Notes:
1
In real terms
2 For all state-owned enterprises and other forms with annual sales over RMB20 million
3 Jan-Sep 2016

Sources: Anhui Statistical Yearbook 2016, Anhui Statistical Bureau. China’s Customs Statistics 12.2015 and 11.2016

 

General Background

Anhui has a total area of 139,427 sq kilometres. Total population stood at 61.44 million in 2015. It lies in the hinterland of Yangtze River Delta. Among many rivers and lakes in Anhui, Chaohu Lake (巢湖) is one of the five great freshwater lakes in China, with an area of 800 sq kilometres.

The land in Anhui Province is very fertile and suitable for various kinds of crops. The province is also rich in mineral resources. There are 138 kinds of minerals which have already been identified. Among them, 38 kinds rank the top 10 in the whole country, and coal, iron, copper, sulphur and alunite are regarded as the five major minerals.

Industries

The tertiary sector has replaced the primary to be the second largest industry. In terms of composition of the tertiary industry, “wholesale& retail trade”, “financial intermediation”, “real estate” and “leasing and business services” are the leading sectors, accounting for 19.1%, 14.4%, 10.1% and 9.7% respectively of the tertiary value-added in 2015.

 

Composition of GDP (%)

 199520002015
Primary32.325.611.2
Secondary36.536.449.8
      Industry31.130.542.1
Tertiary31.338.039.1

Source: Anhui Statistical Yearbook 2016

 

Anhui’s industry is dominated by heavy industry, which accounted for 65.7% of the valued-added industrial output in 2015.

 

Value-added Share of Leading Industry Groups (2015)

 Sector
% share of value-added industrial output
Electrical equipment and machinery11.3
Non-metal mineral products6.6
Raw chemical materials and chemical products5.6
General purpose machinery5.5
Automobile5.4
Processing of food from agriculture products5.2
Smelting and processing of ferrous metals
4.1
Smelting and processing of non-ferrous metals4.0
Coal mining and dressing3.7

Notes: All state-owned enterprises and other forms with annual sales over RMB20 million
Source: Anhui Statistical Yearbook 2016

 

Tourism

Anhui has abundant tourism resources. It has 10 state-level scenic spots, including Yellow Mountain (黃山), Jiuhua Mountain (九華山), Tianzhu Mountain (天柱山), Langya Mountain (琅玡山), etc. There are not only beautiful natural sceneries, but also cultural relics relating to Buddhism (佛教) and Taoism (道教). The local Hui culture (徽文化) are time-honoured.

In 2015, Anhui received 444 million (+17.2%) domestic tourists with tourism receipts of RMB398 billion (+20.3). It also attracted 4.4 million (+9.8%) overseas tourists with foreign exchange revenue of US$2.26 billion (+15.4%).

Foreign Trade

Major exports included special purpose and electrical machinery, motor vehicles, textiles, iron & steel and rubber products. Major imports were metal ore & metal waste material and industrial machinery.

 

Major Export Markets of Anhui (2015)

  Amount
(US$ mn)
Growth
(%, y-o-y)
US5,70010.8
Hong Kong1,98233.9
Japan1,417-7.7
Germany1,067-0.1
South Korea1,006-1.3

Source: Anhui Statistical Yearbook, 2016

 

Foreign Investment

In recent years, Anhui has performed well in attracting FDI. In 2015, FDI mainly went to the manufacturing and real estate sectors, accounting for 51.3% and 23.7% of the total utilised FDI respectively.

 

Chart: Utilised FDI of Anhui
Chart: Utilised FDI of Anhui

 

Hong Kong is the largest source of foreign direct investment in Anhui. In 2015, the utilised FDI from Hong Kong amounted to US$7,658 million (56.2% of the total). Other major investors in 2015 included Taiwan, the US and Japan.

Consumer Market

In 2015, annual per capita disposal income of urban households reached RMB26,936 (+8.4%). Hefei is the leading consumer market in Anhui, accounting for about 24.5% of the total retail sales.

 

Composition of Per Capita Expenditure of Urban Household (%)

 20002015
Food45.733.7
Clothing10.38.1
Household articles7.15.4
Medicine & medical services4.36.2
Transportation & communications7.313.2
Recreation, cultural & education12.011.1
Residence8.820.1

Source: Anhui Statistical Yearbook 2016

 

Increasing income transforms the consumer expenditure structure with a smaller share on food but a bigger share on services. The retail landscape is also changing with the uprising of various forms of chain stores, supermarkets, hypermarkets and convenience stores. Major retail operators include Gome, Walmart and Carrefour. Joy Mart (合家福) is one of the successful local operators.

 

Economic Indicators of Major Cities (2015)

CitiesGDP
(RMB bn)
Per Capita GDP
(RMB)
Value-added Industrial
Output #
(RMB bn)
Retail Sales
(RMB bn)

Exports
(US$ bn)
Hefei (合肥) 566.073,102219.1218.413.7
Wuhu (蕪湖) 245.767,592138.373.35.5
Anqing (安慶) 141.731,10164.160.82.2
Maanshan (馬鞍山) 136.560,80257.741.91.6

# For all state-owned enterprises and other forms with annual sales over RMB20 million
Source: Anhui Statistical Yearbook 2016


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