Lanzhou's economy

Updated: Nov 26, 2019 Print
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In 1949, Lanzhou's GDP was 33 million yuan, but by 2018 the figure had grown to 273.294 billion yuan, up 8,000-times and accounts for just over 33 percent of Gansu province's total.

In 1949, its per capita GDP was only 47 yuan and had risen to 73,042 yuan by 2018, which represents nearly a 1,500-fold increase.

In 1949, total retail sales of consumer goods was 32.89 million yuan, compared with 135.21 billion yuan in 2018, a 4,000-fold increase over the intervening period.

Lanzhou's general fiscal revenue increased from 3.59 million yuan in 1953 to 72.15 billion yuan in 2018, up by more than 20,000 times the 1953 figure.

In recent years, Lanzhou has been resolutely pursuing innovation as the primary force of continuing development. Placing reliance on the national brand platform of Lanbai National Independent Innovation Demonstration Zone, it strengthens the cultivation of innovative abilities on the one hand, and on the other hand, promotes the transfer of scientific and technological achievements.

Meanwhile, it has insisted on making Lanzhou New Area, Lanzhou High-tech Industrial Development Zone and Lanzhou Economic and Technological Development Zone the main theaters for industrial transformation and upgrade. It consistently adopts a balanced approach to managing the transformation of traditional industries and the cultivation of new, emerging industries.

Lanzhou New Area, China's fifth national new area, was approved for construction in 2012. With completed infrastructure occupying a core area of 160 sq km, the new area has accumulatively housed more than 660 industry projects, with a total investment value of more than 300 billion yuan. It has maintained its position at the top among national new areas for economic development and growth.

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