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Guangxi: Market Profile

Major Economic Indicators

Economic Indicators2016Jan-Oct 2017
ValueGrowth
(%, y-o-y)
ValueGrowth
(%, y-o-y
)
Gross Domestic Product (RMB bn)1,831.77.311,275.837.01
Per Capita GDP (RMB)38,0276.31
Added Value Output
Primary industry (RMB bn)279.73.41152.833.71
Secondary industry (RMB bn)827.47.41627.736.41
Tertiary industry (RMB bn)724.78.61495.338.81
Value Added Industrial Output Growth 2 7.516.61
Fixed-assets Investment (RMB bn)1,765.312.81,546.912.8
Retail Sales (RMB bn)702.310.7556.0311.0
Inflation (Consumer Price Index, %)1.61.5
Exports (US$ mn)22,957-17.822,14724.5
By FIEs (US$ mn)4,294-3.14,38128.8
Imports (US$ mn)24,8717.424,42127.3
By FIEs (US$ mn)5,440-8.06,97456.0
Utilised foreign Direct Investments (US$ mn)888.5-48.4

Notes:
1  In Renminbi real terms
2  For all state-owned and other forms of enterprises with annual sales over RMB20 million.
3  Jan-Sep 2017

Sources: Guangxi Statistical Yearbook 2017, Guangxi Statistical Bureau, China’s Customs Statistics 12.2016, 10.2017

 

General Background

Guangxi Zhuang Autonomous Region – abbreviated as Gui (桂) – is situated on the coast of the Beibu Gulf (北部灣). It assumes an important role in the Western Region Development Program, especially as a hub of sea transportation. Guangxi’s population stood at 48.38 million in 2016. Ethnic minorities account for about 38% of Guangxi’s total population.

Guangxi is rich in natural resources. Among the 97 kinds of proved mineral reserves found in the Region, the deposits of tin, manganese, antimony and lime are the largest in China. Besides, Guangxi is also rich in timber and forestry resources.

Guangxi produces a large number of cash crops, including sugarcane, palm-oil seeds, bananas, pineapple and rosin. Among them, output of sugarcane is the largest in the country.

Industries

The primary sector accounted for about 15.3% of the GDP in 2016. While the coast of the Beibu Gulf is a leading fishery and fish farming area, sugarcane plantation is also an important industry in Guangxi.

 

Composition of GDP (%)

 20002016
Primary26.815.3
Secondary35.245.1
  Industry29.437.2
Tertiary38.039.6

Source: Guangxi Statistical Yearbook 2017

 

A marked share of Guangxi’s industrial production is related to the region’s rich mineral deposits and agri- and aqua-cultural outputs, such as sugarcane and food processing, nonferrous metal, etc. Machinery industry is another major sector including automobiles, heavy mining machinery, electrical & electronics, instruments & apparatus, standard parts and component. Given its coastal location, the Region has also developed a strong chemical and oil refinery sector in recent years.

 

Output Share of Leading Industry Groups (2016)

 % share of total
industrial output value
Smelting and pressing of ferrous metal10.9
Automobile manufacturing10.9
Farm & sideline products processing10.4
Production of nonmetal mineral products7.7
Computers, communication and other electronic equipment6.5
Smelting and pressing of non-ferrous metal5.9
Raw chemical materials & chemical products5.2
Processing of timber, bamboo, cane, palm fibre products5.0
Production & supply of electric power, steam & hot water4.8

Source: Guangxi Statistical Yearbook 2017

 

For services industry, the wholesale/retail trade sector and hotel/catering services accounted for 22.3% of the added value of all the tertiary sectors in 2016 while transportation, storage & postal services accounted for 11.8%. Guangxi is determined to capitalise on its geographic advantage to develop into a trade and logistic centre especially serving the China-ASEAN Free Trade Area (CAFTA).

Tourism

The beautiful landscapes and colorful ethnic culture make Guangxi one of China's well-known tourist spots. There are more than 3 state-level scenic spots and 7 state-level historical & cultural protection units in Guangxi. Among which, the "Lijiang Scenes" in Guilin (桂林漓江風光) and the Beihai Silver Beach (北海銀灘) are the most famous attractions.

In 2016, Guangxi received 4.8 million (+7.2%) overseas tourists with foreign exchange income of US$2,164 million (+12.9%). In the meantime, domestic tourists grew by 20.1% to 404 million, generating revenue of RMB404.8 billion (+29.1%).

Foreign Trade

Major exports of Guangxi included mechanical & electrical products, garments and clothing, rolled steel, porcelain and pottery wares, rolled steel and spin yarn, fabrics & the products. Vietnam was the leading export market in 2016, accounting for 60% of Guangxi’s total exports. Hong Kong was the second largest export market in 2016 after Vietnam, accounting for 12.8% of Guangxi’s exports.

Major import goods included mechanical & electrical products, soybean, iron ores and coal. In 2016, imports mainly came from Vietnam, Thailand, Taiwan and the US.

The China-ASEAN Expo is a major annual event and Guangxi is aiming to leverage on its geographic location in bridging trade and investment flows between China and ASEAN under the CAFTA framework. Guangxi’s total trade with ASEAN grew by 1.6% in 2016 to reach RMB$183.5 billion. Border trade accounted for 42.9% of the trade with ASEAN in 2016.

Foreign Investment

Chart: Utilised FDI of Guangxi
Chart: Utilised FDI of Guangxi

In 2016, the industrial sector accounted for 49.6% of the total FDI. Hong Kong was the largest source of foreign investment in Guangxi. In 2016, utilised foreign capital from Hong Kong amounted to US$364 million, accounting for 40.9% of Guangxi’s total FDI. Other major sources of investment included Singapore and British Virgin Island in 2016.

Consumer Market

Major consumer centres are located at Nanning, Liuzhou and Guilin. In 2016, annual per capita disposal income of urban households reached RMB28,324 (+7.2%).

 

Composition of Per Capita Consumption of Urban Household (%)

 20042016
Food44.034.4
Clothing6.45.1
Household articles5.76.0
Medicine & medical services6.36.2
Transportation & communications9.813.1
Recreation, cultural & education13.911.6
Residence10.521.9

Source: Guangxi Statistical Yearbook 2017


The retail landscape is also changing. Besides traditional department stores, various forms of operations such as chain stores, supermarkets and hypermarkets and convenience stores are gaining popularity in Guangxi, both from domestic and foreign investors. Major department stores and shopping centres in Guangxi include Nanning Department Store (南寧市百貨大樓), Guilin Department Store Shareholding Corp. Ltd. (桂林百貨大樓股份有限公司), and Liuzhou Industrial & Commerce Building Shareholding Corp. Ltd. (柳州工貿大廈股份有限公司). Investors from outside Guangxi include Beijing Hualin, Walmart and Wangfujing Department Store.

 

Economic Indicators of Major Cities (2016)

CitiesGDP
(RMB bn)
Per capita GDP
(RMB)
Gross Industrial Output* (RMB bn)Retail Sales
(RMB bn)
Nanning (南寧) 370.352,723352.2198.0
Liuzhou (柳州)  247.762,855470.5104.5
Guilin (桂林)  205.541,216251.683.6
Yulin (玉林)  155.427,110165.866.0
Wuzhou (梧州)  117.639,072230.539.6
Qinzhou (欽州) 110.234,160151.137.4

* For all state-owned and other forms with annual sales over RMB20 million
Source: Guangxi Statistical Yearbook 2017

 

 

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