Xiamen to build characteristic modern service industry system
A bird's-eye view of Xiamen, Fujian province. [Photo/WeChat account: xiamen_swj]
Recently, Xiamen released a development plan for its modern service industry in the 14th Five-Year Plan (2021-25) period.
By 2025, the scale of development of the service industry in Xiamen will be improved and the industrial structure and regional layout will be optimized, with pillar industries such as trade logistics, financial services, software information and technology services, and cultural tourism and creativity achieving fruitful results, according to the plan.
In terms of trade logistics, Xiamen aims to develop itself into an international trade center with strong global resource allocation capabilities by 2025, aiming to generate 930 billion yuan ($129.36 billion) in import and export volume.
Xiamen also aims to be an international exhibition city with its exhibition industry's total income exceeding 50 billion yuan, and become an international consumption-centered city with Xiamen characteristics and to lead the whole province as well as Southeast Asia.
In terms of financial services, Xiamen aims to generate over 300 billion yuan in operational income by 2025, and speed up the construction of a regional financial center that integrates Xiamen's financial characteristics.
By 2025, Xiamen plans to experience leapfrog growth in software information and technology services with an improved independent and controllable industrial chain, a fully established industrial ecosystem, and more leading companies and industries.
In addition, Xiamen aims to achieve more than 250 billion yuan in revenue from the cultural creativity industry and more than 200 billion yuan in revenue in the tourism industry by 2025. The city will strive to build itself into a high-end coastal tourism city and a city with strong emerging cultural industries.
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.