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Shandong demographic analysis and economy overview
Shandong is the second most populous province of
China. Total population of Shandong province has
grown from 87.9 million in 1997 to 93.7 million in
2007, representing a 6.6% increase over a period of
ten years. The population of Han forms 99.3% of the
total provincial population in 2005. Minorities in
the province comprise of the Hui and Manchu etc
forming 0.74% of the population.
Below is the chart of Shandong total population and trends from year 1997 - 2008:
The Shandong province has become the third biggest
provincial economy of mainland China after Guangdong and
Jiangsu. Nominal GDP of Shandong province has
quadrupled from 665 RMB billion in 1997 to
2, 597 RMB billion in 2007. In 2008, acting
governor Jiang Daming has revealed that currently,
the province is focusing its efforts on creating new
advantages such as “converting economic growth that
is mainly reliant on investment and exports into one
where there is a coordinated motivation of
consumption, investment and exports.” In addition,
the province has plans to modify its economic
structure from secondary industries orientated
economy to an economy that combines all primary,
secondary and tertiary sectors for its sustainable
growth. By implementing these strategies, upward
growth of the provincial nominal GDP is highly
probable.
Below is the chart of nominal GDP and trends of Shandong province from year 1997 - 2008:
Living standards
have been on an upward trend judging from the province’s growth in nominal
GDP per capita, income per capita and expenditure per capita. Shandong’s
nominal GDP per capita has risen from 7, 570 RMB in 1997 to 27, 720 RMB in
2007, reflecting a 3.7 times increase over the years. In 2005, disposable
income per capita of urban residents reached 9, 440 RMB, up 12.4% from 2003,
while rural residents' net income per capita reached 3, 510 RMB- an increase
of 11.3% from the previous year. Urban residents' expenditure per capita
amounted to 6,670 RMB, up 10.0% from 2004, while rural residents'
expenditure per capita reached 2, 390 RMB, up 12.0% from the previous year.
Below is the chart of Shandong nominal GDP per capita and trends from year 1997 - 2008:
Manufacturing of
Shandong province forms a substantial proportion of the province’s GDP. In
2007, the manufacturing sector accounts for more than half of the province
nominal GDP- 52%. The province’s major industries includes chemical,
metallurgy, building materials, machinery, shipbuilding, automobile,
electronics, textile and foodstuff industries. Subsequently, the service
sector takes up a third of the provincial GDP. In 2007, wholesale trade and
retail trade constitute to the largest portion of the service sector, while
the finance sector has the fastest growth rate of 24.6% from the previous
year. The agricultural sector forms 10% of the provincial GDP. Major
agricultural products include: grains, cotton, oil, vegetables, fruits, meat
and aquatic products.
Below is the chart of Shandong GDP by agricultural sector, manufacturing sector, construction sector
and service sector for the year 2008:
Total investments
in fixed assets have leaped from 174 RMB billion in 1997 to 1, 254 RMB
billion in 2007, reflecting a 7.2 times surge over a period of ten years.
Shandong is striving for Science and Technology sector in contributing 55%
to the province’s GDP by 2012. The province will encourage technology
research and development in key areas such as electronic information,
biotechnology, oceanic technology and new materials. In addition, Shandong
government will carry on giving priorities to the development of computers,
telecommunications, and software relating to information networking.
Below is the chart of Shandong total investment in fixed assets and trends from year 1997 - 2008:
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