City Introduction of Jiangsu, China: Xuzhou

Major Economic indicators (2007)

Source: Xuzhou Economic and Social Development Report 2007

Introduction

Xuzhou, in the northwest of Jiangsu Province, is located at the intersection point of Henan Province, Shandong Province and Anhui Province. It covers an area of 1,125 km² and has a population of 8.7 million.

The city has convenient access to transportation. The Beijing-Shanghai Railway intersects with the Longhai Railway (which runs from Lanzhou in Gansu Province to Lianyungang in Jiangsu Province) in Xuzhou. National highways and local expressways link the city with other cities in China. The Grand Canal goes through the city and makes the Xuzhou Port an important energy transfer port. Xuzhou Guanyin Airport offers daily flights to Beijing, Shanghai, Guangzhou and other major cities around China.

Xuzhou has plentiful mineral resources, such as coal, iron, titanium and well salt. It also has one of the ten largest coal reserves in China.

Economic Features

The GDP of Xuzhou rose 15.3% from the previous year to RMB 168.0 billion in 2007, ranking 6th among the cities in Jiangsu. The private economy is active in Xuzhou. The value-added output from the private sector surpassed RMB 93 billion, comprising 55.4% of the city's GDP.

The industry sector was the largest contributor, a value-added output accounting for 52.5% of the city's GDP. The gross industrial value-added output in Xuzhou from the enterprises with designated size and above soared 18.1% to RMB 63.7 billion in 2007, to which light industry and heavy industry contributed 45.8% and 54.2%, respectively. Xuzhou has chosen equipment manufacturing, petrochemicals and chemicals, wood processing, textiles, and food and beverages as its major industries. The gross industrial output value from these industries added up to RMB 143.5 billion, amounting to 67.1% of the city's total.

Xuzhou Construction Machinery Group (XCMG) is the leading construction machinery producer and supplier in China. XCMG was set up in 1989. Its products include crawler cranes, wheeled loaders, and road surfacing and maintenance machinery. The company’s sales revenue was RMB 30.8 billion in 2007.

Xuzhou Mining Group, a top state-owned mining group in Xuzhou, was set up in 1880s. Its business covers coal mining, construction machinery, mining machinery, waterproof materials, cements, etc. With annual coal production capacity of 20 million tons, it is a major coal producer and supplier in East China. Its assets amounted to RMB 17.6 billion and its sales revenue exceeded RMB 8 billion in 2007.

The total foreign trade value in Xuzhou increased 34.8% year on year to RMB 2.5 billion in 2007. Export value rose 32.4% year on year to US$1.7 billion. Major export products include construction materials, electronic and mechanical products, base metals and products, and agricultural products. These major products together made up 82.3% of the city's export value.

In 2007, the utilized FDI in Xuzhou jumped up 81.3% year on year to US$443 million. Carrefour and Lotus, two Fortune 500 enterprises, have opened shops in the city.