BEIJING, Dec. 26, 2024 /PRNewswire/ -- A news report by China.org.cn on China's county economy:
Unlocking the "great” economic vitality in "small” counties
Yiwu, as a small county-level city, has shaped its own unique development path based on its own strengths and with the help of policy support. Now, it is home to multiple specialized market clusters with modern logistics campuses. Last year, the city's GDP exceeded 200 billion yuan (about 28 billion USD) for the first time.
Yiwu is a microcosm of the many Chinese county-level administrative divisions in the "100-billion-yuan-GDP club."
Back in 2013, only nine counties and county-level cities had such a GDP scoresheet. Ten years later, the number has reached 59 according to the latest statistics. Represented by Yiwu and its like, the rapid progress in the county economy has denoted the vitality of China's whole economy.
We can start with numbers to back the conclusion up. China now has 2,844 county-level administrative divisions, with their economic output accounting for about 40% of the country's total GDP. While, the 59 counties in the "100-bln-yuan-GDP club" alone have contributed 7.6% of the country's GDP, and more than 10% of the country's output value of industrial enterprises above the designated size.
Moreover, the counties and county-level cities are witnessing industrial transition and upgrading. In an automobile production workshop in Feixi County, Anhui Province, the production line churns out a new energy vehicle every 58 seconds; the county is now the hub for over 100 companies along the industrial chain of new energy vehicles. In Shouguang County, which is known as the "vegetable capital" of China, a smart campus measuring more than 23,000 mu (about 3,788 acres) has been built in collaboration with over 40 scientific research institutions. In accelerating industrial innovation and cultivating new industries, the county economy has exemplified new potential for growth.
What's more notable is how consumption in counties and county-level cities is bolstering domestic demand. In recent years, an array of tea beverage, dining, and fashion brands have mushroomed in the counties. In 2023, one-third of newly opened cinemas are in counties and county-level cities; coffee consumption is growing even faster than in first-tier cities such as Beijing, Shanghai and Guangzhou; more than 60% of the 100-bln-yuan-GDP counties enjoy a consumption capacity higher than the national average. Besides, more and more young Chinese are traveling to counties. For example, Anji County in Zhejiang Province has branded its ecological tourism, attracting numerous tourists with its "Sea of Bamboo in China" and Hello Kitty Park; Liuyang in Hunan Province has built its own tourism brand by hosting the China Liuyang International Fireworks Festival. One can say, the county economy is turning into a significant growth driver for domestic demand.
In China, "county" is a different concept than that in western countries. Chinese county-level administrative divisions cover primarily and mainly the rural areas. Therefore, what we see as a positive momentum in the county economy, is to a great degree the fruits of China's rural revitalization. Some also believe that it's living proof of China's ever-growing solid economic foundation.
The recently convened Central Economic Work Conference proposed to vigorously boost county economies, and placed "expand domestic demand on all fronts" at the top of its agenda. Amid complexities, by growing local specialty industries, strengthening talent pool building, and improving local business environment, even the seemingly smallest counties will unleash gigantic vitality.
China Mosaic
http://chinamosaic.china.com.cn/index.htm
Unlocking the "great" economic vitality in "small" counties
http://www.china.org.cn/video/2024-12/26/content_117630805.htm