Jiangxi Economic Development

In 2003, the provincial gross domestic product reached RMB 283 billion Yuan, up by 13.0% over the previous year. The primary, secondary and tertiary industry increased by 2.7%, 24.4% and 67.4% respectively compared with the previous year. Public ownership economy developed stably in reforming and opening up, whereas mixed and private ownership economy developed rapidly. The fiscal revenue went up continuously. Increasing by 21.9%, the fiscal revenue amounts to RMB 28.58 billion Yuan.

Agriculture Jiangxi is an agriculture-oriented province. Its main agricultural output is among the top ten of China. In 2003, value of agriculture output rose 2.7% to 84.163 billion yuan, and grain output totaled 14.503 million tons, fell 6.4%.

Industry Various industry systems have been set up, such as automobile, machinery building, electronics, chemical engineering, metallurgy, construction material, food, textile and medicine, etc. Some of the dominant industries and enterprises developed rapidly and became the backbone of Jiangxi's economy. In 2003, the provincial gross industrial increment reached RMB 84.9 billion Yuan, up by 18.4% over the previous year. In 2003, the value added of industries of independent accounting industrial enterprises in the province was RMB 44.031 billion Yuan, up by 21.0% over the previous year, among which the public-owned enterprises was RMB 19.92 billion Yuan, accounting for 45.2% of the total value; and the non-public owned enterprises was RMB 24.111 billion Yuan, accounting for 54.8%. Heavy Industry, with an increase of 20.1% to RMB 29.531 billion Yuan, developed faster than the light industry, which increased by 15.4% to RMB 14.499 billion Yuan.

Fixed Assets Investment The gross fixed assets investment reached RMB 138 billion Yuan in 2003 with an increase of 49.3%. The basic industry and infrastructure were further enhanced with an betterment of the investment environment. The construction of 69 major projects, which took RMB 58.934 billion Yuan, achieved remarkable success.

Domestic Trade The sales of consumer goods kept growing smoothly with a pattern of buyer's market. In 2003, the gross volume of retail was RMB 92.32 billion Yuan, 11.7% higher than in 2002. Subtracting inflation rate, the actual growth was 11.6%. The retail volume of consumer goods in city-level increased by 12.1% with a total of RMB 45.53 billion Yuan, and in rural area 11.4% to 46.79 billion yuan.

Foreign Trade and Economic Cooperation The assortments of exported commodities numbered 1193 ,were exported to 153 countries and regions. Since the registration of the first foreign-owned enterprise in Jiangxi in 1984, the number of foreign-invested enterprises has reached 2939 by the end of 2003. In 2003, the gross volume of imports and exports was US$2528 million, up 49.2% over 2002, with US$1505 million from exports, US$ 1022 million from imports. In 2003, $1664 million of foreign investment was virtually utilized and 759 projects of utilizing foreign investment were newly approved, with the contracted amount of foreign investment volume reaching US$2331 million. The amount of investment in the contracts of foreign engineering projects, labor co-operation and designing consultation was US$125.95 million, realizing US$148.25 million.

Finance and Insurance By the end of 2003, deposits in financial organs across the province totaled RMB 323.958 billion Yuan, 53.162 billion more than in 2002, up by 16.4%. Among the deposits, personal savings in both rural and urban households rose to RMB 201.545 billion Yuan, 30.828 billion more than the previous year, up by 15.3%. The credits held by the banks totaled RMB 254.528 billion Yuan, 40.776 billion more, by 19.1% up. In 2003, insurance income was RMB 6.9777 billion Yuan, up by 47.4%.