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City Introduction of Shandong, China: Weifang

Published: 10 Apr 2009 15:59:49 PST

Major Economic Indicators (2007)

Land Area	15,859 km²
Population	8.6 million
GDP	RMB 205.6 billion (US$27.3 billion), 15.8% up
GDP Composition
Primary Industry (Agriculture)	11.6%
Secondary Industry	58.1%
(Industry&Construction)	58.1%
Tertiary Industry(Service)	30.3%
GDP Per Capita	RMB 23,349 (US$3,104)
Unemployment Rate	3.1%
Fixed Asset Investment	RMB 120.8 billion, 24.8% up
Utilized FDI	US$620.0 million
Total Import & Export	US$6.5 billion, 25.4% up
Export	US$5.2 billion, 34.3% up
Import	US$1.3 billion, 1.2% up
Sales of Consumer Goods	RMB 67.4 billion, 17.6% up

Source: Weifang Economic and Social Development Report 2007

Introduction

Weifang is a prefecture-level city in the Shandong Province, located in the central area of Shandong Peninsula. It covers a total area of 15,859 km² and has a population of 8.6 million. Weifang also has a temperate monsoon climate, with an average annual temperature of 12.3℃ and rainfall of 653 mm.

The city borders Yantai to the northeast, Qingdao to the southeast, Rizhao to the south, and Zibo to the west. The Qingdao-Jinan Railway passes through the city, and three major highways connect Weifang with Zibo, Qingdao and Yantai. Additionally, it is 183 km from Jinan, the provincial capital, and 410 km from Beijing.

Economic Features

Weifang is a key city for agriculture in Shandong. In 2007, the agricultural sector’s output reached RMB 48.1 billion, up 13.7% year on year. The output of meat accounted for 20.8% of the province's total, ranking first in Shandong. Currently, there are over 1,200 agricultural and agricultural products processing enterprises in Weifang. Vegetables, chicken, peaches and watermelons are the industry’s main products.

In 2007, Weifang’s value-added industrial output reached RMB 102.2 billion, up 21.0% over 2006. Weifang has established chemicals, power machinery, automobiles, textiles and garments, electronics and IT, new materials, pharmaceuticals, food and beverage processing, paper making and packaging as its pillar industries.

By the end of 2007, there were 4,312 manufacturing companies in Weifang. Shandong Haihua Group, Asia Star Chemicals and the listed Chenming Paper are major players in the manufacturing sector of Weifang. Shandong Haihua is a listed chemical company, with revenues reaching RMB 8.6 billion in 2007.

In 2007, Weifang’s foreign trade jumped 25.4% to US$6.5 billion. Its main export destinations were Japan, the U.S., Europe and South Korea, contributing 60.2% of the city's total exports. Within the same year, its utilized FDI totaled RMB 620 million.