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Shanxi: Market Profile

Major Economic Indicators

Economic Indicators2016Jan-Oct 2017
(%, y-o-y)
(%, y-o-y)
Gross Domestic Product (RMB bn)1,296.64.511,046.03
Per Capita GDP (RMB)35,3031.1
Added Value Output
   Primary industry (RMB bn)78.52.8159.33
   Secondary industry (RMB bn)496.31.51432.43
   Tertiary industry (RMB bn)721.87.01554.33
Value-added Industrial Output2 (RMB bn)1.117.51
Fixed-assets Investment (RMB bn)1,385.90.8
Retail Sales (RMB bn)648.17.4
Inflation (Consumer Price Index, %)1.1
Exports (US$ bn)9.917.9
   By foreign-invested enterprises (US$ bn)6.547.3
Imports (US$ bn)6.77.2
   By foreign-invested enterprises (US$ bn)3.717.2
Utilised Foreign Direct Investment (US$ bn)2.3-18.7

1 In real terms  
2 For all state-owned enterprises and other forms with annual sales over RMB20 million  
3 Jan-Sep 2017      
Sources: Shanxi Statistical Yearbook 2017, Shanxi Statistical Bureau, China’s Customs Statistics 12.2016, 10.2017

General Background

Shanxi – abbreviated as Jin (晉) – has a total area of 156,600 sq km. Total population stood at 36.81 million by the end of 2016.

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 2016, 31.5% of the province’s GDP was attributed to industry. The share of the services sector in GDP went up from 35% in 2011 to 55.7% in 2016.

Composition of GDP (%)


Source: Shanxi Statistical Yearbook 2017

Shanxi’s heavy industry dominated the industry sector, accounting for 92.2% of the province’s total industrial value-added in 2016. 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% of the total industrial value-added in 2016, up from 1.2% in 2011.

Value Added Share of Leading Industry Groups (2016)

 % share of total industrial value-added
Coal Mining and Dressing48.3
Electric Power, Heat Power Production and Supply12.0
Smelting and Pressing of Ferrous Metals6.6
Telecommunication Equipment, Computer and other Electronic Products5.0
Petroleum Processing, Coking and Nuclear Fuel Processing4.6
Smelting and Pressing of Non-ferrous Metals3.8
Nonmetal Mineral Products2.3
Raw Chemical Materials and Chemical Products2.0
Ferrous Metal Mining and Dressing2.0

Source: Shanxi Statistical Yearbook 2017


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 2016, Shanxi received 629 thousand (+6.1%) overseas overnight tourists, bringing foreign exchange revenue of US$317 million (+6.8%). It also attracted 443 million (+23.1%) domestic tourists, generating revenue of RMB422.8 billion (+23.3%).

Foreign Trade

The major overseas markets in 2016 were the US, the Netherlands, Japan and India. Major exports included machinery and electrical equipment, minerals, base metals and related products. In 2016, exports of hi-tech products grew by 68.3% to RMB41.6 billion.

Korea is the leading source of imports, followed by Taiwan in 2016. Major imports included minerals and machinery & electronic products, accounting for 19.6% and 53.7% of total imports respectively in 2016.

Foreign Investment

In 2016, the manufacturing sector accounted for 44.8% of the utilised FDI. In 2016, the major source of overseas investment was Hong Kong which accounted for 56.2% 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 RMB27,352 in 2016 up by 5.9% from 2015. 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 22.7
 Clothing 14.79.4
 Household articles 5.75.6
 Medicine & medical services 8.59.7
 Transportation & communications 9.514.1
 Recreation, cultural & education 14.714.4
 Residence 11.521.4

Source: Shanxi Statistical Yearbook 2006, 2017

Economic Indicators of Major Cities (2016)

(RMB bn)
Per Capita GDP
Retail Sales
(RMB bn)
(RMB bn)
 Taiyuan (太原)  295.668,234166.654.9
 Datong (大同)  102.630,04660.91.9
 Changzhi (長治)  127.037,06356.71.9
 Jincheng (晉城)  104.945,27138.61.1
 Yuncheng (運城)
 Linfen (臨汾)  120.627,10260.90.9

Source: Shanxi Statistical Yearbook 2017

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