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Shanxi: Market Profile

Major Economic Indicators

Economic Indicators2015Jan-Oct 2016
(%, y-o-y)
(%, y-o-y)
Gross Domestic Product (RMB bn)1,276.63.11894.63
Per Capita GDP (RMB)34,919-0.4
Added Value Output
   Primary industry (RMB bn)78.31.0160.13
   Secondary industry (RMB bn)519.4-1.21337.93
   Tertiary industry (RMB bn)678.910.01496.53
Value-added Industrial Output2 (RMB bn)-2.810.41
Fixed-assets Investment (RMB bn)1,374.514.8
Retail Sales (RMB bn)603.45.5527.4
Inflation (Consumer Price Index, %)0.61.0
Exports (US$ bn)8.4-5.88.3
   By foreign-invested enterprises (US$ bn)
Imports (US$ bn)6.3-13.75.6
   By foreign-invested enterprises (US$ bn)
Utilised Foreign Direct Investment (US$ bn)2.9-2.8

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

Sources: Shanxi Statistical Yearbook 2016, Shanxi Statistical Bureau, China’s Customs Statistics 12.2015, 10.2016

General Background

Shanxi - abbreviated as Jin (晉) - has a total area of 156,600 sq kilometres. Total population stood at 36.64 million by the end of 2015.

Historically, Shanxi was well known for the “Jin Merchants” who were forerunners in foreign trade and national financial services. Shanxi is now the most important energy source base in China with abundant reserves of coal (煤), magnesium (鎂), bauxite (鐵鋁氧石) and fireclay (粘土).

In recent years, Shanxi has aimed to improve the traditional industries of coal, coke, metallurgy and electrical power and develop new pillar industries such as coal chemical, equipment manufacturing, material and tourism.


In 2015, about 34% of the province’s GDP was attributed to industry. The share of the services sector in GDP went up from 35% in 2011 to 53% in 2015.

Composition of GDP (%)


Source: Shanxi Statistical Yearbook 2016

Shanxi’s heavy industry dominated the industry sector, accounting for 92% of the province’s total industrial value-added in 2015. In recent years, Shanxi has rapid development in telecommunication equipment, computer and other electronic products. The value-added of this industry sector accounted for 5.4% of the total industrial value-added in 2015, up from 1.2% in 2011.

Value Added Share of Leading Industry Groups (2015)

 % share of total industrial value-added
Coal Mining and Dressing47.5
Electric Power, Heat Power Production and Supply13.0
Smelting and Pressing of Ferrous Metals6.6
Telecommunication Equipment, Computer and other Electronic Products5.4
Petroleum Processing, Coking and Nuclear Fuel Processing4.0
Raw Chemical Materials and Chemical Products3.2
Smelting and Pressing of Non-ferrous Metals2.5
Nonmetal Mineral Products2.1
Ferrous Metal Mining and Dressing2.0

Source: Shanxi Statistical Yearbook 2016


Shanxi is a province with a long history and profound cultural connotation, for example, Datong Yungang Grottoes (雲岡石窟) and Ancient City of Pingyao (平遙古城) have been listed in the “World Culture Heritage Directory”.

In 2015, Shanxi received 594 thousand (+5.1%) overseas overnight tourists, bringing foreign exchange revenue of US$297 million (+5.8%). It also attracted 360 million (+20.2%) domestic tourists, generating revenue of RMB342.9 billion (+21.2%).

Foreign Trade

The major overseas markets in 2015 were the US, the Netherlands, India and Korea. Major exports included machinery and electrical equipment, minerals, base metals and related products. In 2015, exports of hi-tech products grew by 5.2% to US$3.96 billion.

Korea is the leading source of imports, followed by Australia in 2015. Major imports included minerals and machinery & electronic products, accounting for 27.7% and 45.6% of total imports respectively in 2015.

In 2015, Shanxi exported US$362 million to Hong Kong, accounting for 4.3% of Shanxi’s total exports.

Foreign Investment

In 2015, the manufacturing sector accounted for 47% of the utilised FDI. In 2015, the major source of overseas investment was Hong Kong which accounted for 59% of the utilised FDI.

Chart: Utilised FDI of Shanxi
Chart: Utilised FDI of Shanxi

Consumer Market

In terms of per capita disposable income of urban residents, Shanxi reached RMB25,828 in 2015 up by 7.3% from 2014. Taiyuan city is the leading consumer market accounting for 26% of Shanxi’s retail sales.

Composition of Per Capita Expenditure of Urban Household (%)

 Food, tobacco & liquor
32.4 25.2
 Clothing 14.7 10.8
 Household articles 5.7 6.0
 Medicine & medical services 8.5 8.8
 Transportation & communications 9.5 13.6
 Recreation, cultural & education 14.7 13.9
 Residence 11.5 19.1

Source: Shanxi Statistical Yearbook 2006, 2016

In recent years, more and more foreign retail enterprises emerged in Taiyuan (太原), e.g., Walmart (沃爾瑪) from the US, Carrefour (家樂福) from France, Metro (麥德龍) from Germany. Domestic retail chain enterprises which run well in Taiyuan include Hualian (華聯), Meet All (美特好), etc.

Economic Indicators of Major Cities (2015)

(RMB bn)
Per Capita GDP
Retail Sales
(RMB bn)
(US$ mn)
 Taiyuan (太原)  273.5
 Datong (大同)  105.330,98956.8285
 Changzhi (長治)  119.535,02952.432
 Jincheng (晉城)  104.044,99435.9288
 Yuncheng (運城)
 Linfen (臨汾)  116.126,23957.2166

* For all state-owned and other forms with annual sales over RMB20 million
Source: Shanxi Statistical Yearbook 2016

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