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III. Economy

GDP: 109.851 billion yuan (2008)

GDP growth rate: 12.2 percent (2008)

Average GDP per capita: 17,892 yuan (2008)

GDP ratio (1st, 2nd, and tertiary industries): 10.9:52.9:36.2 (2008)

Poverty alleviation plan:

In 1999, 143,000 poverty-stricken people in rural Ningxia solved the problem of food and clothing, accounting for 51.3 percent of the 279,000 poverty-stricken people (not including those who became poverty-stricken again after getting rid of poverty-stricken) in 1998. The percentage of poverty-stricken people dropped from 1998’s 13.2 to 1999’s 6.2.

Revenues: 17.862 billion yuan (2008)

Foreign trade:

Ningxia has established economic and trade ties with more than 70 countries and regions and has carried out extensive cooperation and exchanges in industry, agriculture, science, technology, public health, culture, education, art, and sports. A number of production bases for export industrial and agricultural products were set up. More than 350 kinds of commodities, such as coal, tantalum products, iron alloy, bicyanamide, electrolytic aluminum, tires, Chinese wolfberry, and licorice root, were exported.

In 1999, effort was made to open new market for export and find new potentials of growth. As a result, the situation in export turned for the better. The annual import and export value was US$390 million, an increase of 24.6 percent over the figure of 1998. The volume of export was US$319 million, an increase of 13.1 percent and the volume of import was US$71 million, an increase of 1.3 times.

Foreign investment:

Foreign funds were used in more than 20 fields, including energy, transportation, and communications, the energy-consumption metallurgy, agriculture, water conservation projects, technical renovations, medicine, public health, and environmental protection. Funds were raised through different channels--investment by foreign businessmen, loans from foreign governments and international financial organizations, and international commercial loans. The total foreign funds attracted made up one-fourth of Ningxia’s construction funds.

The amount of foreign funds actually used was US$40.41 million. In 1999, 46 agreements were signed with a contracted foreign investment of US$99.11 million. After rectifications, the number of the three types of foreign-funded enterprises in Ningxia was 396 at the end of 1999, 28 less than the figure of 1998.

Pillar industries:

Ningxia has formed an industrial system of coal, electric power, metallurgy, textiles, papermaking, and foodstuffs.

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