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Xiamen Special Economic Zone Aims High
Xiamen, one of China's four earliest special economic zones, hopes to attain the level of moderately developed countries in terms of per capita gross domestic product (GDP) by 2005.
The local economy of Xiamen has been growing at an annual average rate of 18.78 percent in the past two decades. By 1999, Xiamen's economic turnover reached 45.83 billion yuan, 25.33 times the comparable statistics in 1980, while total industrial output value was 69.88 billion yuan, 61.4 times the 1980 figure. Per capita disposable income for urbanites and per capital net income for farmers also skyrocketed in the past 20 years.
The past two decades' efforts have also turned Xiamen , which used to be a war front, into one of China's most important ports of opening-up to the outside world.
By June this year, Xiamen approved 4,375 overseas-financed projects, with contracts involving 16.97 billion U.S. dollars of overseas investment. And a total of 10.96 billion U.S. dollars of overseas capital have been put into use in the coastal city.
China now has five SEZs: Shenzhen, Xiamen, Zhuhai, Shantou and Hainan.
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