Hangzhou demographic analysis and economy overview

 

Hangzhou’s total population has grown by 6.3% from 6.3 million in 2001 to 6.7 million in 2007. The population covers an area of 16, 596 square kilometers. In 2006, there are 4.1 million urban residents. Currently, Hangzhou is facing the problem of aging population structure. Thus, population growth would be expected to decelerate in times to come.

 

Below is the chart of Hangzhou total population and trends from year 2001 - 2008:

 

 

 

Hangzhou has developed swiftly since China’s opening-up, and has consistently experienced double-digit growth for the past years. Between 2001 and 2007, nominal GDP of Hangzhou has soared by 2.6 times from 156.8 RMB billion in 2001 to 410 RMB billion in 2007. Hangzhou’s gross economic output is ranked second among provincial cities in China, and ranks fifth among Chinese cities in terms of overall competitiveness. In 2006, Hangzhou’s primary industry made up 4.5% of the total nominal GDP; secondary industry 50.6% and tertiary industry 44.9%. The 5 main manufacturing industries Hangzhou comprise of information and technology, machinery, medicine, textiles and food and beverages. It is also noted that the service sector is growing rapidly, especially in both the tourism and commerce sectors.

 

Below is the chart of nominal GDP and trends of Hangzhou city from year 2001 - 2008:

 

 

Nominal GDP per capita of Hangzhou has increased by 2.4 times from 24, 923 RMB in 2001 to 60, 983 RMB in 2007. As the standard of living of the population of Hangzhou improves, demand for public services such as modern service industries, medical service, hygiene and education will also increase, at the same time, experiencing a faster rate of development. Other goals besides economic expansion that Hangzhou would need to tackle include unequal distribution of income and the level of social welfare of the population.

 

Below is the chart of Hangzhou nominal GDP per capita and trends from year 2001 - 2008:

 

 

Owing to the rapid economic growth, Hangzhou’s government finance revenue has jumped by nearly four times from 10 RMB billion in 2001 to 39 RMB billion in 2007. In 2006, the tax revenue of civilian economic totaled 21.9 RMB billion, which accounted for 35.1 percent of the total fiscal revenue. In addition, as Hangzhou is an ideal place to do business in China, number of private enterprises is also on an upward trend. Thus, revenue from corporate taxes increases as well.

 

 

 

Hangzhou’s total investments in fixed assets have soared from 46 RMB billion in 2001 to 168 RMB billion in 2007- a remarkable 3.7 times growth in a period of six years. There are several factors that contribute to the favorable conditions for investments in Hangzhou. Firstly, Hangzhou has industrial zones to cater to the different kinds of foreign-invested enterprises. Other desirable factors include: specialized infrastructure and human resource, variety of telecommunications channels and efficient transport system. In addition, there are preferential tax treatments to foreign enterprises. Major sources of foreign investments stem from Hong Kong, Taiwan, US, Japan, Singapore, UK and France. In 2006, the World Bank regarded Hangzhou as the best investment environment in the country.

 

 

 

 

 

Related cities:

 

Beijing	Changchun	Changsha	Chengdu	Chongqing
Dalian	Fuzhou	Guangzhou	Guiyang	Haikou
Hangzhou	Harbin	Hefei	Hohhot	Jinan
Kunming	Lanzhou	Nanchang	Nanjing	Nanning
Ningbo	Qingdao	Shanghai	Shenyang	Shenzhen
Shijiazhuang	Taiyuan	Tianjin	Urumqi	Wuhan
Xi'an	Xiamen	Xining	Yinchuan	Zhengzhou