Xiamen's commercial business surges over past 40 years
The special economic zone in Xiamen, East China's Fujian province, witnesses sharp growth in its economic and social development since its establishment in 1980. [Photo by Wu Guangning/swj.xm.gov.cn]
In 1980, the Standing Committee of the fifth National People's Congress, the top legislature, approved the establishment of a special economic zone in Xiamen, East China's Fujian province, and over the past 40 years, the city has taken the lead in boosting China's reform and opening-up, becoming a pioneer in attracting investment and innovating its economy.
The 1,569-square-kilometer city has witnessed sharp growth in its economic and social development. Statistics show that the zone's foreign trade volume rose from 141 million yuan ($21.16 million) in 1980 to more than 641 billion yuan in 2019.
In recent years, Xiamen has increased its inputs to boost its export-oriented economy and gained eye-catching achievements in the sector, according to Huang Minghe, the head of the city's commerce bureau.
According to statistics, products made in Xiamen have been exported to more than 220 countries and regions, putting the city at the national forefront in terms of the overall competitiveness of its import-export trade.
The city's trading in services also has seen a boom in recent years, and it was approved to expand the innovative development of its trading in services in this August. Currently, a characteristic development platform that focuses on the tourism, transport and aeronautical maintenance sectors has taken shape in the city.
To date, the port of Xiamen has opened 57 new shipping routes to countries and regions involved in the Belt and Road Initiative. They form a route network with Xiamen as the core, covering Southeast Asia and Northeast Asia, and connecting Asia, Europe, America and Australia.
The Xiamen Area of the China (Fujian) Pilot Free Trade Zone has also boosted the city's quality development since its establishment in 2015.
Over the past five years, more than 420 innovative measures have been rolled out in the area, 30 of which were replicated across the country.
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.