|
Zhejiang demographic analysis and economy overview
Total population has grown from 44.4 million in 1997
to 50.6 million in 2007, representing a 14% growth
over a period of ten years. The Hans forms the major
portion of the provincial population, while the She
and Hui are the two largest minorities’
nationalities in the province. In 2007, the family
planning authorities have loosened their one-child
policies to encourage couples to have their second
child earlier in the hope of easing the pressures
created by an aging society. Thus, total population
is expected to continue its upward trend in the next
period.
Below is the chart of Zhejiang total population and trends from year 1997 - 2009:
In terms of GDP, Zhejiang province is ranked fourth
among all provinces in China. Nominal GDP of
Zhejiang province has quadrupled from 464 RMB
billion in 1997 to 1, 878 RMB billion in 2007.
Volume of exports of Zhejiang province increased
from US$5 million in 1978 to US$29.4 billion in
2002, having a 30.3% annual growth rate. With rapid
development in its economy, fiscal revenue has
jumped from US$2.7 billion in 1978 to US$116.7
billion in 2002- reflecting an annual increase of
17%.
Below is the chart of nominal GDP and trends of Zhejiang province from year 1997 - 2009:
Living standards
of Zhejiang’s province has witnessed notable growth over the years.
Zhejiang’s nominal GDP per capita has risen from 10, 460 RMB in 1997 to 37,
120 RMB in 2007, reflect a 3.5 times increase. In 2007, the GDP per capita
of the province stands at fourth place relative to other provinces of China.
In 2006, urban residents disposable income per capita reached 18, 270 RMB,
while net income per capita of rural residents reached 7, 340 RMB, having a
5-year average annual real growth of 10.8% and 7.9% respectively. Among the
provinces in China, income of urban residents was ranked third for six
consecutive six years.
Below is the chart of Zhejiang nominal GDP per capita and trends from year 1997 - 2009:
Both the
manufacturing and service sectors play a vital role in Zhejiang’s economic
development. In 2007, the manufacturing sector takes a substantial portion
of the province GDP amounting to 48%, while the service sector constitutes
41% to the province GDP. It key industries include: light textile,
machinery, building material, chemical, electronics and medicine industries.
The agricultural sector forms 5% of the provincial GDP while the constructor
sector constitutes 6% to the total. Main agriculture products include: rice,
wheat, jute, cotton and tea.
Below is the chart of Zhejiang GDP by agricultural sector, manufacturing sector, construction sector
and service sector for the year 2009:
Zhejiang is a
coastal province with favorable investment conditions. Total investments in
fixed assets of Zhejiang province has surged by 5.2 times from 161 RMB
billion in 1997 to 842 RMB billion in 2007. Major investors in the province
include: Hong Kong, US and Taiwan. Currently, the government is targeting at
developing the tertiary sectors such as logistics, finance, tourism,
convention and exhibitions, cultural and real estate services, aiming to have
a 45% share in the provincial GDP by 2010. Other sectors that are being
encouraged include: petrochemical, communications, agricultural-processing
and high technology industries.
Below is the chart of Zhejiang total investment in fixed assets and trends from year 1997 - 2009:
|
