Nanjing has been a center of trade and commerce since ancient times. Its position as a major port city along
several important Yangtze trade routes has served it well for centuries, and today its location at the intersection
of three major railway lines in the booming Yangtze delta continues to facilitate its growth. In recent years,
Nanjing has been developing its economy, commerce, industry, as well as city construction. In 2010 the city's
GDP was RMB 501 billion (3rd in Jiangsu), and GDP per capita was RMB 65,490, a 13 percent increase from
2009. The average urban resident's disposable income was RMB 28,312, while the average rural resident's
net income was RMB 11,050. The registered urban unemployment rate was 3.02 percent, lower than the
national average (4.3 percent). Nanjing's Gross Domestic Product ranked 14th in 2010 in China, and its overall
competence ranked 5th in mainland and 7th including Taiwan and Hong Kong.
Foreign Trade & Foreign Direct
Due in large part to its proximity to Shanghai, Nanjing enjoys the attention of many foreign companies looking
to setup manufacturing. More and more foreign companies are moving from Shanghai to Nanjing to open new
factories with lower land prices, labor costs, and highly educated employees found in Nanjing.
Foreign investment zones have been improved and expanded, a new logistics park has been built, and many
of the services found in Shanghai (hyper-markets, international schools and hospitals) can now be found in
Nanjing. The resulting improvements have established Nanjing as one of the top provincial capitals on the
east coast and will continue to draw foreign managers as a hub to Shanghai and inner coast operations.
In 2011, there were 604 new agreements or letters of intent signed for foreign direct-funded projects. The
contractual value of foreign investment totaled US$3.1billion, with the actual amount of foreign capital utilized
being 1.7 billion USD. By the end of 2011, Nanjing had attracted 75 of the world's top 500 enterprises, who have
invested in 130 projects. Companies like BEST BUY, Bunge, New York Life Insurance, Standard Life Assurance,
Sumitomo Bank, and Sun Life Assurance Company of Canada invested in Nanjing and Ford increased its
investment there in 2011.
Nanjing Crowned International Garden City
Nanjing was crowned International Garden City at the 15th International Garden City finals held in Seoul, South Korea
on October 31st. Nanjing’s comprehensive score, as well as its art culture and heritage management, ranked first
among the 74 cities listed in the competition.
The International Garden City is a globally recognised “Green Oscar” competition and is the only international
competition involving the management of living conditions, ecology, the use of resources, sustainable development
and the relationship between people and nature. Jointly run by the U.N. Environment Program and the International
Park Association, the competition has been successfully held for 14 sessions, with every winner newly titled the
"world’s most livable city”.
