Fuzhou rides a rising economic wave

Fuzhou, Jiangxi province, aims to increase its gross domestic product to more than 300 billion yuan ($44.2 billion) and the business revenue of industrial enterprises above designated size to over 500 billion yuan by 2030, officials said at a recent news conference.

In the last year of the 14th Five-Year Plan period (2021-25), the city's GDP reached 229.81 billion yuan, representing average annual growth of 6.2 percent. Business revenue at industrial enterprises above designated size rose to 328.79 billion yuan, while the value added from such enterprises recorded double-digit growth for 30 consecutive months.

Mayor Hu Jianfei said the city would continue to prioritize industrial development, led by new energy vehicles and advanced manufacturing.

During the past five years, Fuzhou introduced a new energy vehicle industrial park with an investment of 30 billion yuan, while its new energy vehicles and auto parts sector was recognized as a provincial-level advanced manufacturing cluster. More than 20 related projects responsible for nearly 17 billion yuan, were attracted to the cluster, while 44 auto parts companies across Jiangxi entered the supply chain.

Over the next five years, Fuzhou plans to develop a NEV cluster valued at 100 billion yuan and to improve its technology transfer network so that more research results can be taken to commercial production.

The city also wants to increase momentum from opening-up. In the first five months of this year, foreign trade rose 38.7 percent year-on-year to 12.51 billion yuan, while exports of new energy vehicles, lithium-ion batteries and photovoltaic products surged 168.3 percent to 4.2 billion yuan.

On the ecological front, four places under Fuzhou's jurisdiction have been designated national ecological civilization demonstration zones, while two have become national practice and innovation bases for the "two mountains" concept, which holds that "lucid waters and lush mountains are invaluable assets". Ecological asset transactions have totaled 35.54 billion yuan.

Fuzhou plans to develop zero-carbon industrial parks and factories, expand energy storage and strengthen protection of the Fuhe River basin. It has also prepared 2,155 major projects with planned investment of about 828.5 billion yuan for the 2026-30 period

The city will continue to support people's well-being at about 80 percent of the general public budget, extending telemedicine to primary-level healthcare institutions and expanding mutual-aid elderly care services.

"We will work to turn the blueprint into reality and the vision into tangible results," Hu said.