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Shanxi demographic analysis and economy overview
Total population of Shanxi province has grown from
31.4 million in 1997 to 33.9 million in 2007,
representing an 8% growth over a period of ten
years. The Han forms the majority. In 2004, the 54
groups of minorities such as Man, Mongolian, Korean,
Zang, Hui etc form 0.29% of the total provincial
population.
Below is the chart of Shanxi total population and trends from year 1997 - 2008:
Nominal GDP of Shanxi province has been on a upward
trend from 148 RMB billion in 1997 to 573 RMB
billion in 2007, reflecting a 3.9 times increase
over the years. In the next few years, the province
may face a short term reduction in nominal GDP as
the government plans to reduce 7000 coal mines and
eliminate backward production capabilities. Shanxi
is a leading producer of coal in China. By cutting
down large number of coal mines, this would affect
the provincial nominal GDP adversely. However, this
strategy would benefit the province in the long run,
as the benefits from developing a circular economy
would bring about continuous development and growth,
relative to the short run costs.
Below is the chart of nominal GDP and trends of Shanxi province from year 1997 - 2008:
Shanxi’s nominal
GDP per capita has swelled from 4, 710 RMB in 1997 to 16, 000 RMB in 2007,
reflecting a 3.6 times growth over the years. In 2005, disposable income of
urban residents per capita reached 8, 910 RMB- an increase of 12.8% from
2004 while rural residents' net income per capita reached 2, 890 RMB, up
11.6% from the previous year. In addition, urban residents' expenditure per
capita amounted to 6, 340 RMB, up 12.2% from the previous year, while rural
residents' expenditure per capita amounted to 1, 880 RMB- growth of14.7%
from 2004. The above indicators reflect the rising living standards of the
population of the Shanxi’s population.
Below is the chart of Shanxi nominal GDP per capita and trends from year 1997 - 2008:
The manufacturing
sector constitutes a substantial portion of the province GDP. In 2007, the
manufacturing sector forms more than half of the GDP- 55%. The main
industries include: coal mining, metallurgy, chemical and machinery
industries. The service sector constitutes 35 % of the GDP. Among the
service industries, finance, insurance, retail and logistics industries form
the major proportion of the service sector. Both the agricultural and
construction sectors contribute 5% each to the provincial GDP.
Below is the chart of Shanxi GDP by agricultural sector, manufacturing sector, construction sector
and service sector for the year 2008:
Total investments
in fixed assets of Shanxi province has increased from 161 RMB billion in
1997 to 842 RMB billion in 2007, reflecting a 5.2 times jump over a period
of ten years. Majority of the foreign investments are directed to the
manufacturing and mining and real estate sectors while major sources of
foreign investments are derived from US, UK, Hong Kong and the Bahamas.
Shanxi encourages investors to invest in technology that brings about
advancement in traditional industries such as coal, coke, metallurgy and
electric power industries.
Below is the chart of Shanxi total investment in fixed assets and trends from year 1997 - 2008:
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