Shanxi

Shanxi is located to the west of Taihang Mountain and to the east of the Yellow River and is traditionally called the “Land of Mountains and Rivers”. Its provincial capital is Taiyuan.

I. Development Overview of the Social Economy in Shanxi Province
1. Shanxi is the “energy resources and heavy chemical industries base”. The proven coal reserve is 200,000,000,000 tons so far, which accounts for 1/3 of the national coal reserves; and the iron ore reserve is 3,050,000,000 tons in Shanxi.
2. A heavy industry structure focusing on the energy resources and raw material industries as the main bodies has formed. Based on rapid growth of the advantageous energy resource industry, all walks of life experience corresponding development. The infrastructure and tertiary industries have developed quicker than those of other provinces and regions in China.
3. The township enterprises play an important role in development of the economy in Shanxi. During the sixth five-year plan period, the total output of the township enterprises in Shanxi increased by 200%, and the CAGR was 40%. The social output increased by RMB6,200,000,000, accounting for 30% of the social output at the same time in Shanxi. This played a significant role in changing the employment structure and development of the economy in the rural area.

II. Development Overview of the SMEs in Shanxi Province: By 2005, there were more than 90,000 SMEs in Shanxi, and they contributed 50% of the local output, 40% of fiscal revenues, 40% of social employment, and more than 80% of the newly added employment posts in the urban and rural areas.