Xiamen enjoys rapid growth in service trade
According to statistics released by the Ministry of Commerce on import and export of service trade in the first quarter of this year, of all the provinces in China, Xiamen achieved a $2.27 billion volume, a year-on-year increase of 22.7 percent, and a 14.7 percent increase from last quarter.
The growth rate, which is 7.1 percent and 10.7 percent higher than the national level and provincial level, respectively, ranks first among the five cities under separate state planning: Xiamen, Shenzhen, Dalian, Qingdao and Ningbo.
Export accounts for $970 million, an increase of 7.1 percent, while import takes up $1.3 billion, an increase of 37.8 percent.
In the perspective of industries, transport and tourism dominate the international trade in services of Xiamen, accounting for 31.3% each. At the same time, high-end service trades involving computer and information services, proprietary rights fees and royalties are showing a fast growth momentum.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.