Xiamen and Economic Trends
Xiamen is a sub-provincial city situated on the southeast coast of Fujian province. It is one of the few municipalities in China with independent status in state economic planning and one of the first five Special Economic Zones of the country. With a population of 5 million and an area of 1,700 square kilometers, it has jurisdiction over 6 districts.
The city has a diverse and well-developed economy and is considered ad one of the most important ports in China for international trade and cross-Strait trade. The city’s main industries are the manufacturing of electronics, machinery, and chemicals, while food processing, textiles, tobacco processing, paper manufacturing, plastics production, beverage production, pharmaceuticals, and construction materials are also significant sectors. Two nationwide investment promotion events are held annually, "China International Fair for Investment and Trade" and "China Xiamen Machinery and Electronics Exhibition".
In 2021, the GDP reached 704 billion RMB, up 8.1 % compared to the previous year, while the GDP per capita amounted to 136,000 RMB. The total value of Xiamen’s international trade reached 887 billion RMB in 2021, with the exports amounting to 470 billion RMB and the total value of imports to 417 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.