20 May 2019
Gansu: Market Profile
Major Economic Indicators
| Economic Indicators | 2017 | 2018 | ||
| Value | Growth (%, y-o-y) | Value | Growth (%, y-o-y) | |
| Gross Domestic Product (RMB bn) | 746.0 | 3.61 | 824.6 | 6.31 |
| Per Capita GDP (RMB) | 28,497 | 3.01 | 31,336 | 5.81 |
| Added Value Output | ||||
| Primary industry (RMB bn) | 85.9 | 5.41 | 92.1 | 5.01 |
| Secondary industry (RMB bn) | 256.2 | -1.11 | 279.5 | 3.81 |
| Tertiary industry (RMB bn) | 403.8 | 6.51 | 453.0 | 8.41 |
| Value-added Industrial Output2 (RMB bn) | 160.4 | -1.71 | — | 4.61 |
| Fixed-assets Investment (RMB bn) | 569.6 | -40.3 | — | -3.9 |
| Retail Sales (RMB bn) | 342.7 | 7.6 | — | 7.4 |
| Inflation (Consumer Price Index, %) | — | 1.4 | — | 2.0 |
| Exports (US$ mn) | 1,710 | -54.9 | 2,211 | 29.3 |
| By foreign-invested enterprises (US$ mn) | 12 | -14.9 | 11 | -10.8 |
| Imports (US$ mn) | 3,116 | 16.4 | 3,789 | 21.6 |
| By foreign-invested enterprises (US$ mn) | 20 | 67.2 | 23 | 17.3 |
| Utilised Foreign Direct Investment (US$ mn) | 43.56 | -62.5 | 50.41 | 15.7 |
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 2018, Gansu Statistical Bureau, China’s Customs Statistics, 12.2017, 12.2018
General Background
Gansu has a total area of more than 425,800 sq km. Its population stood at 26.37 million in 2018. 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 another major sector raising mainly cattle, horses, donkeys, sheep and goats. Mutton, beef and sheep wool are also major outputs of Gansu.
Composition of GDP (%)
| 2000 | 2017 | |
| Primary | 15.6 | 11.5 |
| Secondary | 41.2 | 34.3 |
| Industry | 32.8 | 23.6 |
| Tertiary | 43.2 | 54.1 |
Source: Gansu Statistical Yearbook 2018
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 (2017)
| % share of gross industrial output | |
| Smelting and pressing of non-ferrous metals | 26.5 |
| Processing of petroleum and coking | 13.5 |
| Production and supply of electric power, gas and water | 12.3 |
| Smelting and pressing of ferrous metals | 6.0 |
| Manufacture of non-metallic mineral products | 5.6 |
| Processing of food from agricultural products | 3.8 |
| Manufacture of raw chemical materials and chemical products | 3.8 |
| Mining and washing of coal | 3.6 |
| Extraction of petroleum and natural gas | 3.2 |
Source: Gansu Statistical Yearbook 2018
Among tertiary industries, in terms of value-added, the sector of wholesale and retail trade was the leading sector accounting for about 14% of the value-added of the tertiary industry in 2017, followed by the sector of financial intermediation, with a share of 13.7%.
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.
| 2017 | % change | |
| Number of domestic tourist (million) | 239 | 25.1 |
| Income generated (RMB bn) | 157.9 | 29.5 |
| Number of overseas tourist (thousand) | 78.8 | 10.2 |
| Foreign exchange income (US$ mn) | 20.9 | 8.9 |
Source: Gansu Statistical Yearbook 2018
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 Hong Kong, South Korea and the US. In 2017, exports to Hong Kong accounted for 40.9% of Gansu’s total exports.
Major sources of imports in 2017 included Kazakhstan, Mongolia and Taiwan.
Foreign Investment
Electric power, gas and water production & supply accounted for 54% of the utilised FDI in 2017. FDI from Hong Kong stood at US$17.55 million in 2017, accounting for 40.3% of the total utilised FDI.
Consumer Market
In 2018, annual per capita disposal income of urban households was RMB29,957 (+7.9%). Major consumer markets are located in Lanzhou (蘭州市), accounting for 39.6% of Gansu’s total retail sales respectively in 2017.
Composition of Per Capita Expenditure of Urban Household (%)
| 2005 | 2017 | |
| Food, tobacco and liquor | 36.0 | 29.2 |
| Clothing | 12.3 | 9.2 |
| Household articles | 5.6 | 6.5 |
| Healthcare, medical services | 7.5 | 8.4 |
| Transportation & communications | 9.8 | 14.2 |
| Recreation, cultural & education | 14.4 | 11.3 |
| Residence | 10.4 | 18.5 |
Source: Gansu Statistical Yearbook 2018
Economic Indicators of Major Cities (2017)
| Cities | GDP (RMB bn) | Per capita GDP (RMB) | Value-added Industrial Output * (RMB bn) | Retail Sales (RMB bn) | Exports (RMB bn) |
| Lanzhou (蘭州) | 250.1 | 67,269 | 58.4 | 135.9 | 7.29 |
| Baiyin (白銀) | 45.1 | 26,150 | 10.9 | 20.7 | 0.39 |
| Tianshui (天水) | 59.9 | 17,979 | 10.3 | 31.3 | 2.24 |
| Jiuquan (酒泉) | 55.2 | 49,200 | 9.3 | 20.8 | 0.49 |
| Qingyang (慶陽) | 58.5 | 26,031 | 24.1 | 23.9 | 0.17 |
* For all state-owned enterprises and other forms with annual sales over RMB20 million
Source: Gansu Statistical Yearbook 2018
Comments (0)