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Qinghai
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Home » Qinghai » Qinghai Profile » Economy

Economy

The industry of the province includes mining, chemical, electric power, leather processing and wool-spinning with agriculture, hydropower, salt-making, nonferrous minerals, petroleum and natural gas as its pillar industries. Animal husbandry is based on breeding of sheep, yak and horses. Agriculture products include wheat and Qingke. The fishery industry of Qinghai Lake and Zhalin Lake is of fairly large scale. In 2008, Qinghai’s GDP totaled RMB 97 billion, ranking 30th in the country. The population of permanent residents in Qinghai is 5.543 million, with a per capita GDP of RMB 17,509.

Major Economic Indicators

Economic Indicators 2007 Jan - Sep 2008
Value Growth (%, y-o-y) Value Growth (%, y-o-y)
Gross Domestic Product (RMB bn) 78.4 12.5 1 68.4 13.2 1
Per Capita GDP 14,257 11.7 1    
Added Value Output        
- Primary industry (RMB bn) 8.3 4.4 1 6.2 3.5 1
- Secondary industry (RMB bn) 41.8 14.9 1 39.1 18.8 1
- Tertiary industry (RMB bn) 28.2 11.7 1 23.1 8.0 1
Value-added Industrial Output 2 (RMB bn) 31.5 22.7 1 15.6 4 23.5 1
Fixed-assets Investment (RMB bn) 48.7 16.2 15.7 4 19.1
Retail Sales (RMB bn) 20.8 15.7 17.9 21.2
Inflation (Consumer Price Index, %)   6.6   12.4 4
Exports (US$ mn) 385.9 -27.8 264.7 3 8.4
- By FIEs (US$ mn) 16.4 42.8 35.8 3 778.8
Imports (US$ mn) 226.2 92.4 172.3 3 37.1
- By FIEs (US$ mn) 94.2 171.4 132.4 3 198.7
Utilized Foreign Direct Investment (US$ mn) 310.0 12.7 - -

Notes: 1 In real terms 2 For all state-owned enterprises and other forms with annual sales over RMB 5 million 3 Jan-Aug 2008 4 Jan-May 2008.

Industries

Qinghai is a large province in resources such as pastoral resource, hydropower resource, mineral resources, saline resources, petroleum & gas resources. The natural resources endowment has a great influence on shaping the industry structure of Qinghai.

Composition of GDP (%)

  2000 2007
Primary 30.9 10.6
Secondary 23 53.3
Industry 8.6 44.0
Tertiary 46.2 36.1

Value-added Share of Pillar Industries (2007)

  % share of industrial value-added
Petroleum & natural gas industries 26.7
Nonferrous metal industry 26.2
Saline chemical industry 16.0
Hydropower generating industry 12.8

Foreign Trade & Foreign Investment

Major export items included aluminum & rolled aluminum, silicon, yarn, woolen fiber, etc. Major export markets included Japan, the US and Korea. Major imports were aluminum oxide, Medical instruments and equipment, Cars and car chassis, etc.

In 2007, foreign investments in Qinghai were mainly engaged in manufacturing industries (40.1% of the contracted amount), production of electricity, gas and water. Hong Kong is the biggest source of FDI in Qinghai, accounting for 59.2% of the province's contracted FDI in 2007, followed by the US (19%) and Virgin Islands (16.5%).

FDI

FDI in Qinghai

  1991-2007 2007
No. of contracts 491 37
Contracted amount (US$ mn) 2,562.3 416.0
Utilised amount (US$mn) 1,526.3 310.0

Digital Source: Qinghai Statistical Yearbook 2008, China's customs statistics 8.2008

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