Xiamen's service sector reports fast rebound from Jan to Oct
The coastal city of Xiamen, Fujian province reports a 0.1 percent year-on-year growth in its service sector from January to October this year. [Photo by Zhang Qihui/China Daily]
Service enterprises above designated size in Xiamen, East China's Fujian province generated operation revenues of 145 billion yuan ($22.14 billion) from January to October this year, a growth of 0.1 percent year-on-year, indicating that the city's service sector managed to rebound following the impact by the COVID-19 pandemic.
The city's new service industry has shown strong growth momentum, with its high-tech, high-growth, and high-added value service enterprises raking in a combined revenue of 44.67 billion yuan, a year-on-year increase of 9.2 percent, according to statistics.
Among them, operation revenue of leasing and business service sectors expanded 20.2 percent year-on-year to 28.13 billion yuan, playing a leading role in driving the growth of city's service sector.
Xiamen's postal industry has maintained robust expansion this year, with revenues and business volumes rising. The industry's revenue rose to 2.61 billion yuan during the first 10 months of this year, up 27 percent year-on-year.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.