REGIONAL> Development
Favored destination for those at home and abroad
By Xu Shenglan (China Daily)
Updated: 2009-01-09 07:38

Favored destination for those at home and abroad

Xiamen, a sub-provincial city in Fujian province that looks out to the Taiwan Straits, was recently voted one of China's cleanest cities and its second-most comfortable city to live in.

Xiamen and the surrounding countryside areas are famous as ancestral homes to overseas Chinese and one of China's earliest Special Economic Zones in the 1980s. It covers an area of more than 1,500 sq km with a local population of 5 million.

Xiamen boasts one of the most vibrant economies on the east coast of China. In 2007, its GDP amounted to 137.5 billion yuan, an increase of 16.1 percent over the previous year. Its per capita GDP was 56,595 yuan. By the year 2010, the GDP is expected to rise to $14,000 per head. Xiamen aims to establish itself as a thriving center for shipping, logistics, finance, commerce, tourism, convention, exhibition, culture and education on the east coast of China.

Xiamen is one of the most competitive cities in China. It was ranked No 9 among 200 competitive cities of China in 2005. It was in the top in the fields of government management, corporate management, environment, infrastructure and openness.

It was also awarded the title of the 5th Golden City among 120 competitive cities of China presided by the World Bank in 2006. It was in the top 20 in the fields of investment environment and government efficiency responded by mainland and foreign enterprises, the main indexes the rank included.

Xiamen enjoys convenient transportation conditions. It is a major road, air, and shipping hub connecting the Yangtze River Delta and the Pearl River Delta, two largest and dynamic economic development zones in east China.

Xiamen Port is one of the top 10 ports and one of the eight largest container terminals in China and ranked 22nd among top ports 100 worldwide. It has an excellent natural harbor and is well connected to the mainland.

The natural coastline in the port area is 202.3 km with a water depth of at least 17 m. There are 124 berths for ships with big, medium and small tonnage, of which 40 can handle container ships of over 10,000 tons.

Xiamen Port has 137 container shipping lines that carry 490 vessels each month covering nearly all major ports in the world. As the first port authorized to handle direct cargo shipping to Taiwan, its throughput with Taiwan now exceeds 3 million containers.

It also has routes to Hong Kong, Japan, South Korea, Southeast Asia, Australia, America, Europe, the Mediterranean Sea, the Persian Gulf and Middle East.

Xiamen Airport, linked to 82 locations round the world, is one of the top 10 airports and the fourth busiest airport for entry and exit in China. It has become a regional air hub next only to Shanghai.

It has 37 international and regional air routes including flights to Tokyo, Osaka, Seoul, Singapore, Kula Lumpur, Penang, Manila, Bangkok, Yabi, Kuching, HK and Macao, as well as air cargo services to Chicago, Los Angles and Nagoya. Xiamen Airport has Grade I & II warehouses under customs inspection, providing integrating services of cargo delivery, customs brokering and inspection, and distribution.

Xiamen is one of the 47 highway hubs verified by Chinese Ministry of Communications. It is linked to the national highway network through Fuzhou-Xiamen Expressway, Xiamen-Zhangzhou-Quanzhou Expressway and other top-class roads, leading to all major destinations round China.

As one of the most important hubs on China's Great Railway along the Coast, it has extended its rail lines to Dongdu and Haicang Port Areas, while connecting to the national rail network through Yingtan-Xiamen Railway.

Xiamen has more than 410 financial institutions providing highly developed banking services. Retail and corporate customers in Xiamen have access to a wide variety of financial services and various financial services firm.

HSBC (HK), United Overseas Bank (Singapore), Standard Chartered (UK), Citibank (USA), Mizuho Corporate Bank (Japan) and other 14 foreign-funded banks established branches and representative offices in Xiamen besides 11 domestic commercial banks and Sino-foreign joint venture Xiamen International Bank.

Xiamen has become one of China's major ports for foreign trade and cross-Straits trade. China International Fair for Investment and Trade (CIFIT) is held here annually in early Sept to attract foreign direct investment into the Chinese mainland. The 12th CIFIT on Sept 8, 2008, attracted 13,685 foreigners and 445 foreign institutions from over 100 countries and regions.