City Introduction of Zhejiang, China: Jiaxing

Jiaxing

Major Economic indicators (2007)

Source: Jiaxing Economic and Social Development Report 2007

Introduction

Jiaxing lies in the northern Zhejiang province of the Yangtze River Delta of China. It is situated on the Grand Canal (Beijing-Hangzhou Canal) - the longest man-made canal in the world. It neighbors Hangzhou to the southwest, Huzhou to the west, Shanghai to the northeast and the Jiangsu province to the north. With a subtropical monsoon climate, it enjoys abundant rainfall and sunshine.

Jiaxing serves as the juncture of the Hangzhou-Shanghai Railway and Shanghai-Hangzhou Highway. The 320 State Highway runs across the city and has been designated as a station of the proposed Shanghai-Hangzhou Maglev Train Line. The city is within the 1.5 hour circle of three major international airports, namely Shanghai Pudong International Airport, Shanghai Hongqiao Airport and Hangzhou Xiaoshan International Airport.

Economic Features

Jiaxing witnessed a strong growth in economic development. In 2007, its GDP edged up by 14.4% from a year earlier to RMB 158.5 billion, ranking 43rd among all the cities in the country. It generated RMB 10 billion from its agriculture sector, RMB 94.7 billion from its construction and industry sector, and RMB 53.8 billion from its service sector.

In 2007, its foreign trade value amounted to US$16.1 billion, up 26.9% year-on-year. The export value rose 27.2% year-on-year to US$11.7 billion, while the import value increased by 26.2% year-on-year to US$4.4 billion. It has attracted US$3.5 billion in foreign investment, an increment of 35% from 2006, while the utilized FDI jumped up 36% to US$1.7 billion.

The city’s mainstream industries in Jiaxing include printing, textile, leather, electricity supply and chemicals. Jiaxin is known as the “home of silk”. Textile production is one of its main strengths. There are 8 textile production bases within Jiaxing, where around 25,000 textile producers gather together. It is also the world’s largest exporter of leather goods. Haining in Jiaxing is famed for being the “home of leather” in China. Export value of leather products from Haining has amounted to US$1.5 billion in 2007, accounting for over 20% of China’s total export value from leather products.

With the Qinshan Nuclear Power Plant - China’s first self-designed nuclear power station - set up in Jiaxing, the city has become an important energy base in East China.

Bordering Shanghai, Jiaxing has strong economic ties with the economic hub of China. In 2007, it attracted 95 projects from Shanghai with a total value of RMB 3 billion - more than double the amount from 2006. It is building itself a supporting industrial base for Shanghai’s 6 major industries, such as auto making, petrochemicals, steel, home appliances, communication equipment production and equipment for power plants.