III. Economy

GDP: 96.153 billion yuan (2008)

Average GDP per capita: 17,389 yuan (2008)

GDP ratio (1st, 2nd, and tertiary industries): 11, 55 and 34 percent respectively (2008).

Revenues: 13.651 billion yuan (2008)

Foreign trade:

In 1999 the province exported US$86.86 million worth of goods, bringing the total of the past 20 years to US$1.64 billion. Qinghai exports its products to 60 countries in East Asia, Southeast Asia, Europe, and the Americas. Foreign trade has provided work opportunities for the people and expanded the market for the province’s products, thus increasing revenues. Foreign trade has also promoted the development both of unique industries such as Tibetan carpets, bovine-wool sweaters, and other finely processed products and of metallurgical industries headed by the production of ferro-silicon and silicon carbide. The increasing imports have updated the production equipment and technological level of enterprises, enriched the consumer market, and improved the people’s living standards.

Foreign investment:

By the end of 1999, the province had utilized US$275 million (not including US$235 million for state projects). The province had approved the establishment of 197 foreign-invested enterprises with a total foreign investment of US$547 million including contractual foreign investment of US$224 million and has implemented or was implementing 12 projects with loans totaling US$50.94 million from foreign governments. Foreign investments cover various fields and have come from various channels including foreign governments, the International Agricultural Development Fund and the World Bank.

By the end of 1999, the province had received a total of US$63.26 million in international economic aid for 67 construction projects, of which 14 were under construction in 1999. These projects include the Haidong Agricultural Comprehensive Development Project, aided by the World Grain Program; the Qinghai Livestock Breeding and Potato Development Project, aided by the European Union; and the Qinghai Community Development Project, aided by Australia. These projects cover agriculture, livestock, fishery, science, technology, education, culture, public health, and women’s development. They have promoted the development of social causes in the province.

Pillar industries:

Agriculture, hydropower, salt-chemical, non-ferrous metal, and oil and natural gas.