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Gansu: Market Profile

Major Economic Indicators

Economic Indicators20152016
ValueGrowth
(%, y-o-y)
ValueGrowth
(%, y-o-y)
Gross Domestic Product (RMB bn)679.08.11715.27.61
Per Capita GDP (RMB)26,1657.71
Added Value Output
   Primary industry  (RMB bn)95.45.4197.35.51
   Secondary industry (RMB bn)249.57.41249.26.81
   Tertiary industry (RMB bn)334.19.71368.78.91
Value-added Industrial Output2 (RMB bn)166.26.81156.56.21
Fixed-assets Investment (RMB bn)862.711.2953.410.5
Retail Sales (RMB bn)290.79.0318.49.5
Inflation (Consumer Price Index, %)1.61.3
Exports (US$ mn)5,8139.14,088-29.7
   By foreign-invested enterprises (US$ mn)240.614-42.1
Imports (US$ mn)2,184-34.02,78727.6
   By foreign-invested enterprises (US$ mn)13-21.312-12.0
Utilised Foreign Direct Investment (US$ mn)110.410.0

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

Sources: Gansu Development Statistical Yearbook 2016, Gansu Statistical Bureau, China’s Customs Statistics, 12.2015, 12.2016

 

General Background

Gansu has a total area of more than 454 thousand sq kilometers. Its population stood at 25.99 million in 2015. It is located in China’s northern region and is having a complicated landscape, including mountains, plateaus, valleys and deserts. Gansu belongs both to the Yellow River basin and Yangtze River basin. It is famous for its cultural heritages including the Silk Road.

Gansu is rich in natural resources, including minerals deposits, forest resources, wind and solar power. Gansu has discovered over 170 kinds of minerals. More important ones include nickel, cobalt, platinum group, mold clay and magnesium, etc. However, quite a number of these metal or non-metal minerals are co-associated deposits, adding to the difficulties in the mining process.

Gansu has a reserve of 600 million tonnes of oil. It is one of the richest solar energy resources bases in China. Gansu’s wind energy resources rank number five in China. Gansu is also endowed with herbs. In terms of the number of species, it ranks second in China.

Industries

The agricultural sector is still very important to Gansu. In terms of cultivated areas, corn, wheat, tubers (such as potatoes), oil bearing crops (mainly rapeseed), vegetables and Chinese medicine herbs are the leading farm corps. Animal husbandry is anther major sector raising mainly cattle, horses, donkeys, sheep and goats. Mutton, beef and sheep wool are also major outputs of Gansu.

 

Composition of GDP (%)

 20002015
Primary15.614.1
Secondary41.236.7
    Industry32.826.2
Tertiary43.249.2

Source: Gansu Statistical Yearbook 2016

 

Based on the advantages on resources, Gansu has established an industrial system leaded by petroleum industry, metallurgical industry, chemical industry and food processing industry etc. Gansu aims to develop new energy resources, including wind and solar energy, and related equipment industries. It will strengthen as the production base of synthetic fiber. To utilise the advantages in animal husbandry and agricultural products, Gansu will further develop its leather and food processing industries.

 

Output Value Share of Leading Industry Groups (2015)

 % share of gross industrial output
Smelting and pressing of non-ferrous metals21.0
Smelting and pressing of ferrous metals12.9
Processing of petroleum and coking11.3
Production and supply of electric power, gas and water9.9
Processing of food from agricultural products
5.7
Extraction of petroleum and natural gas5.0
Manufacture of raw chemical materials and chemical products4.0
Mining and washing of coal3.6
Manufacture of electrical machinery and equipment2.0

Source: Gansu Statistical Yearbook 2016

 

Among tertiary industries, in terms of value-added, the sector of wholesale and retail trade was the leading sector accounting for about 16.5% of the GDP in 2015, followed by the sector of financial intermediation, with a share of 14.4% of GDP.

Tourism

Gansu’s tourism resources include cultural and historical heritages such as the Silk Road, Dunhuang Mogao Grottoes (敦煌莫高窟) , the Yellow River civilisation, Jiayuquan (嘉峪關) .  Natural scenery includes Crescent Moon Spring (月牙泉) , Maiji Mountain (麥積山) and Kongtong Mountain (崆峒山) , etc.

 

 2015% change
Number of domestic tourist (million)156.323.5
Income generated (RMB bn) 97.525.0
Number of overseas tourist (thousand)54.511.8
Foreign exchange income (US$ mn)14.239.4

Source: Gansu Statistical Yearbook 2016

 

Foreign Trade

Major exports included non-alloy nickel, cobalt and its products, ferrosilicon, apple juice and tomato sauce etc. Major imports were mineral products such as copper ores and machinery products.

Major destination of exports included South Korea, the US and Hong Kong. In 2015, exports to Hong Kong accounted for 6.7% of Gansu’s total exports.

Major sources of imports in 2015 included Australia, Kazakhstan and Mongolia.

Foreign Investment

Electric power, gas and water production & supply accounted for 83% of the utilised FDI in 2015. FDI from Hong Kong stood at US$40.54 million in 2015, accounting for 36.7% of the total utilised FDI.

 

Chart: Utilised FDI of Gansu
Chart: Utilised FDI of Gansu

 

Consumer Market

In 2015, annual per capita disposal income of urban households was RMB23,767 (+14.2%). Major consumer markets are located in Lanzhou (蘭州市), accounting for 39.6% of Gansu’s total retail sales respectively in 2015.

 

 

Composition of Per Capita Expenditure of Urban Household (%)

 20052015
Food36.030.6
Clothing12.310.0
Household articles5.66.4
Healthcare, medical services7.57.9
Transportation & communications9.810.6
Recreation, cultural & education14.411.7
Residence10.420.3

 Source: Gansu Statistical Yearbook 2016


Economic Indicators of Major Cities (2015)

CitiesGDP
(RMB bn)
Per capita GDP
(RMB)
Value-added
Industrial Output #
(RMB bn)
Retail Sales
(RMB bn)
Exports
(RMB bn)
Lanzhou (蘭州) 209.656,97251.5115.231.3
Baiyin (白銀) 43.425,41013.717.80.4
Tianshui (天水) 55.416,74311.126.21.4
Jiuquan (酒泉) 54.548,91811.517.70.4
Qingyang (慶陽) 60.927,36628.820.40.5

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

 

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