Zhejiang is an eastern coastal province of China. It is located in the south of the Yangtze River Delta, with Shanghai – the largest city in China – on the north. It covers a land area of 101,800 square kilometres, of which 70.4% is hills and mountains, 23.2% plains and basins and 6.4% rivers and lakes. The province has 3,061 islands, which makes it the province with the most islands in China. By the end of 2005, the population of the province has reached 48.98 million.
Zhejiang boasts its rich cultural heritage with Hemucu Culture dating back 7,000 years ago. Hangzhou, the capital city, is one of the seven ancient capital cities in China, and also a famous tourist city. The province is traditionally known as ‘a region of fish and rice, the home of silk, a paradise for tourists and a land of rich cultural heritage’.
The main crop in Zhejiang is rice, followed by wheat. North Zhejiang is a centre of aquaculture in China, and the Zhoushan fishery is the largest fishery in the country. The province is also well known of tea production with the renowned Longjing tea in Hangzhou.
Zhejiang's main industries are electromechanical (machinery) industries, textiles, chemical industries, food, and construction materials. The output and the capacity of its light textile industry for export rank the first in China. Zhejiang model, which is an economic development model based on prioritising and encouraging entrepreneurship, emphasising on manufacturing of low cost goods in bulk for both domestic consumption and export has been applied in Zhejiang recently. As a result, Zhejiang has made itself one of the richest provinces in China. The Hangzhou Bay Bridge is being constructed between Hanyan County and Cixi, Ningbo. Once completed, it will be the longest sea-crossing bridge in the world.
In the 11th Five-year Development Plan (2006 ~ 2010), Zhejiang has launched its Science & Technology Development Strategy and long-term vision. The strategic priorities are energy development and environment protection, IT, bio-medical technology, new materials and advanced device manufacturing as well as their applications in traditional industries and agriculture. Technology in public health and security is also one of the priorities.
Zhejiang major economic indicators
Economic Indicators |
2005 |
2005 |
2006 |
2006 |
|---|---|---|---|---|
Value |
Growth (%) |
Value |
Growth (%) |
|
Gross Domestic Product (RBM ¥bn) |
1,343.8 |
12.8 |
1,564.9 |
13.6 |
Per Capita GDP (RBM ¥bn) |
27,703 |
11.2 |
31,684 |
11.6 |
Added Value Output |
||||
- Primary industry (RBM ¥bn) |
89.3 |
1.5 |
92.3 |
3.0 |
- Secondary industry (RBM ¥bn) |
716.6 |
12.7 |
843.8 |
13.9 |
- Tertiary industry (RBM ¥bn) |
537.9 |
15.2 |
62.8 |
15.1 |
Value-added of industrial output (RBM ¥bn) |
483.1 |
17.4 |
565.5 |
17.4 |
Fixed-assets investment (RBM ¥bn) |
669.6 |
10.5 |
759.3 |
13.8 |
Retail Sales (RBM ¥bn) |
463.2 |
14.2 |
532.5 |
15.0 |
Inflation (Consumer Price Index. %) |
1.3 |
1.1 |
||
Exports (US$bn) |
76.8 |
32.0 |
100.9 |
31.4 |
- by FIEs (US$bn) |
27.3 |
38.6 |
38.0 |
39.2 |
Imports (US$bn) |
30.6 |
12.9 |
38.3 |
25.1 |
- by FIEs (US$bn) |
15.1 |
16.2 |
19.3 |
27.8 |
Foreign Direct Investment |
||||
- number of projects |
3,396 |
-11.2 |
3,583 |
5.5 |
- contractual amount (US$bn) |
16.1 |
10.3 |
19.1 |
18.5 |
- utilized amount (US$bn) |
7.7 |
14.9 |
8.9 |
15.1 |
Industries composition of GDP (%)
2000 |
2005 |
|
|---|---|---|
Primary |
10.3 |
6.6 |
Secondary |
53.3 |
53.4 |
...Industry# |
48.0 |
47.2 |
Tertiary |
36.4 |
40.0 |
Notes: # For all state-owned enterprises and other forms with annual sales over RMB 5 million
Source: Zhejiang Statistical Yearbook 2006