Jinhua and Economic Trends
Jinhua is a prefecture-level city located in East China's Zhejiang province. The city is a transportation hub in the province thanks to its proximity to the Shanghai Port and Ningbo Port. With a population of 7 million and an area of 10,926 square kilometers, it has jurisdiction over 9 county-level divisions, including 2 districts, 4 county-level cities and 3 counties.
Jinhua has been focusing on innovating cross-border e-commerce cooperation in an all-round way, in order to build itself into a national logistics hub city. It is also accelerating the comprehensive upgrading of the commodities market and vigorously developing new retail formats, aiming to become an international trade and logistics center. Its main industries include transportation equipment manufacturing, arts and crafts, electrical machine manufacturing, metal products, chemicals and textiles. Other specializations available are automobiles and auto parts, information technology, food processing and bio-pharmaceuticals. The city also features 3 major development zones, including Zhejiang Quzhou Hi-Tech Park, Zhejiang Zhoushan Economic Development Zone and Zhejiang Donggang Economic Development Zone.
In 2021, the GDP reached 535 billion RMB, up 7.1 % compared to 2020, while the GDP per capita amounted to 75,900 RMB. The total value of Jinhua’s international trade reached 500 billion RMB in 2021, with the exports amounting to 430 billion RMB and the total value of imports to 70 billion RMB.
The Chinese City Tier System consists of a system of tiers used by analysts to classify Chinese cities and rank them in a hierarchy. Cities in different tiers reflect differences in consumer behaviour, income level, population size, consumer sophistication, infrastructure, talent pool, and business opportunity.