18 Nov 2016
Wenzhou (Zhejiang) City Information
|Major Economic Indicators (2015)|
|Land Area (km2)||12,065|
|GDP (RMB billion)||461.8|
|GDP Per Capita (RMB)||56,841|
|Retail Sales of Consumer Goods (RMB billion)||267.4|
|Utilised FDI (USD million)||301.2|
|Exports (USD million)||17,115|
|Imports (USD million)||2,363|
Source: Zhejiang Statistical Yearbook 2016
Wenzhou is located on the southeastern coast of the Zhejiang Province. It was the first city to establish a market economy in China. Its citizens in general have good business sense, many of them have established strong business networks both domestically and internationally.
Wenzhou is designated as a regional hub in MOFCOM’s development plan (2015-2020) of distributive trade and logistics. It is easily accessible by air, waterways and highways. Numerous highways link the city with major economic centers such as Beijing, Shanghai and Guangzhou. The Jinhua-Wenzhou Railway is linked to the Zhejiang-Jiangxi Railway, connecting the city with other major cities in South China. Wenzhou Yongqiang Airport operates routes to domestic cities as well as Hong Kong and Macau. Wenzhou's port, one of the 25 main coastal ports in China, also plays an important role in the city's integrated transportation system.
Wenzhou ranked as the 50th most competitive city in China by the Chinese Academy of Social Sciences in 2016.
Industry accounted for 36% of the GDP in 2015. The city's 10 pillar industries are electrical manufacturing, shoemaking, equipment manufacturing, electricity production and supply, plastic manufacturing, textiles, garments, transportation equipment manufacturing and chemicals. Wenzhou is known as the "capital of shoes", indicating the significance of shoes manufacturing.
Leading shoe enterprises in Wenzhou include Aokang, Giho and Red Dragonfly. Foreign investors including Coca Cola, GE, Cendant, and other Fortune 500 enterprises have established presence in Wenzhou.
Tourism is an important service industry in Wenzhou. Major attractions include Yandang Mountain, Nanxi River Scenic Area and Baizhangji & Feiyun Lake Scenic Area.
Major Industrial Park / Development Zone
Wenzhou Economic and Technological Development Zone
Target industries: IT, machinery & electronics, new material, bio-pharmaceutics and chemicals
Major investors: B&Q, Coca Cola, Charoen Pokphand, Kingfisher, Fuji