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Guizhou: Market Profile

Major Economic Indicators

Economic Indicators20172018
ValueGrowth
(%, y-o-y)
ValueGrowth
(%, y-o-y)
Gross Domestic Product (RMB bn)1,354.110.211,480.69.11
Per Capita GDP (RMB)37,9569.41
Added Value Output
   Primary industry  (RMB bn)203.26.31215.96.91
   Secondary industry (RMB bn)542.810.11575.69.51
   Tertiary industry (RMB bn)608.011.51689.19.51
Value-added Industrial Output2 (RMB bn)410.59.519.01
Fixed-assets Investment (RMB bn)1,528.820.115.8
Retail Sales (RMB bn)415.412.08.2
Inflation (Consumer Price Index, %)0.91.8
Exports (US$ mn)5,79322.25,121-11.6
   By foreign-invested enterprises (US$ mn)1,360646.91,202-11.6
Imports (US$ mn)2,367147.32,4794.7
   By foreign-invested enterprises (US$ mn)1,220900.7997-18.6
Utilised Foreign Direct Investment (US$ mn)824-14.8

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

Sources: Guizhou Statistical Yearbook 2018, Guizhou Statistical Bureau, China’s Customs Statistics, 12.2017, 12.2018

 

General Background

Guizhou has a total area of 176,167 sq km. Guizhou – abbreviated as Qian (黔) – is situated in the mountainous part of the Yunnan-Guizhou Plateau (雲貴高原) in Southwest China. Total population stood at 35.8 million in 2017.  About 36% of the population is ethnic minorities.

Guizhou has rich mineral resources. Among the 123 kinds of discovered minerals, 22 kinds ranked among the top three in the nation in terms of reserves. The province’s reserves of phosphorus ore and bauxite ranked first and second respectively in China. Its reserve of coal is the highest among southern Chinese provinces, and is the fifth largest in China. Guizhou is also rich in natural resources for hydro-electricity generation.

With significant improvements in irrigation and terrace-farming, Guizhou has a strong agricultural sector. The province is one of the main producers of tobacco and its output ranked second in the country in 2017, only after Yunnan. Tea products, vegetables and some exotic fruits are famous both at home and abroad. Thanks to its biodiversity, Guizhou also has large varieties of herbs for industrial and medicinal uses.

Industries

The primary sector still accounted for 15% of the GDP. Major agricultural products include corn, rice, tobacco, tubers and rapeseeds. The output of tobacco ranked second in China, accounting for 11.2% of the national total in 2017. The province has over 3,700 types of herbs and is one of the leading producers of Chinese medicine in China. Animal husbandry and cash crop of local characteristics are also the major sectors of the agricultural industry. Although fishery accounted for a very small share of the primary sector, it has been growing by about 17% annually on average, in terms of value-added, over the last few years (2013 to 2017).

 

Composition of GDP (%)

 20062017
Primary16.315.0
Secondary41.440.1
    Industry35.931.4
Tertiary42.344.9

Source:  Guizhou Statistical Yearbook 2018

 

The structure of Guizhou’s industrial output reflects the natural resources of the province.  In 2017, electricity, heat and gas accounted for 11.5% of the industrial value-added, while tobacco, liquor and beverage manufacturing together accounted for about 27%. Manufacture industries are mainly located at Guiyang (貴陽) and Zunyi (遵義). 

 

Major Industry Groups# (2017)

 % share of  industrial value-added
Liquor and beverage manufacturing19.9
Mining and washing of coal16.9
Production and distribution of electric power, gas and water11.5
Manufacture of non-metallic mineral products
8.7
Manufacture of tobacco7.0
Raw chemical materials & chemical products4.0
Medical and pharmaceutical products3.5
Smelting and pressing of non-ferrous metal3.2
Telecommunication equipment, computer and other electronic equipment2.8
Processing of food from agricultural products
1.8

Notes:  # For all state-owned enterprises and other forms with annual sales over RMB20 million
Source: Guizhou Statistical Yearbook 2018

 

Guizhou is also a major base for supplying electricity from the western part of China to the eastern part (西電東送).

Traditionally, Guizhou is strong in tobacco and brewing (beverages) industry. Maotai (茅台) wine is famous at home and abroad.

Guizhou is also an important base of building material and chemical industries. The province will further develop pharmaceutical products, tobacco and food industries. Some famous industrial corporations in Guizhou included Huangguoshu Group Co, Guizhou Jihua 3537 Shoes-Making Factory, Guizhou Shenqi Group, Guizhou Yibai Pharmaceutical Corporation, etc.

Tourism

Guizhou is a popular tourist destination. It has 12 state-level scenic areas and 6 state natural reserves such as Huangguoshu Waterfall (黃果樹瀑布), Dragon's Palace (龍宮), Zhijin Cave (織金洞), Hongfeng Lake (紅楓湖), etc.

In 2017, the number of overseas tourist increased by 15% to 1.26 million, generating a foreign exchange earnings of US$283 million (+12%). The number of domestic tourists reached 743 million (+40%) with total revenue of RMB709.8 billion (+41.6%).

Foreign Trade

Exports to the Asia region accounted for 73% of the total exports in 2017. Hong Kong was the leading export market in 2017, accounting for 44% of total exports. Major export products were chemicals and related products, machinery and equipment, plastics and related products.

Major import items included minerals, plastics and related products, machinery and equipment.  Major sources of import were the US and Thailand in 2017.

Foreign Investment

In 2017, FDI going to the production and supply of electricity, gas and water accounted for 19% of the total inflows of FDI while that to the transport, storage and post sector accounted for another 18.3%.

 

Chart: Utilised FDI of Guizhou
Chart: Utilised FDI of Guizhou

Foreign investors are encouraged to invest in auto-parts, tourism and light industries, particularly in textiles, food-processing, medicines and health products. Guizhou would like to co-operate with foreign investors in upgrading its major industrial enterprises and developing hi-tech industries.

Consumer Market

In 2017, per capita disposal income of urban household reached RMB29,080 (+8.7%). Guiyang is the largest consumer centre accounting for 32% of the total sales in 2017.

 

Composition of Per Capita Expenditure of Urban Household (%)

 20082017
Food43.133.0
Clothing10.27.7
Household articles6.36.7
Medicine & medical services5.65.8
Transport & communications10.413.9
Recreation, education and cultural services11.213.4
Residence10.017.5

Source: Guizhou Statistical Yearbook 2018

 

Economic Indicators of Major Cities (2017)

CitiesGDP
(RMB bn)
Per capita GDP
(RMB)
Industrial
value-added*
(% share in Guizhou)
Retail Sales
(RMB bn)
Guiyang (貴陽) 353.874,49319.6133.5
Zunyi (遵義) 274.944,06027.481.2
Bijie (畢節) 184.127,69011.138.2
Liupanshui (六盤水) 146.250,13612.137.2

* For all state-owned enterprises and other forms with annual sales over RMB20 million
Source: Guizhou Statistical Yearbook 2018


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