Economy
Important crops in Guangxi include rice, maize, sweet potatoes, and wheat. Cash crops include sugar cane, peanuts, tobacco, and kenaf.
85% of the world's star anise is grown in Guangxi. It is a major ingredient in the antiviral Tamiflu.
Guangxi is one of China's key production centers for nonferrous metals. The province holds approximately 1/3 of all tin and manganese deposits in China.
Liuzhou is the main industrial center and is a major motor vehicle manufacturing center. General Motors have a manufacturing base here in a joint venture as SAIC-GM-Wuling Automobile. The city also has a large steel factory and several related industries. The local government of Guangxi hopes to expand the province's manufacturing sector, and during the drafting of China's Five Year Plan in 2011, earmarked 2.6 trillion RMB for investment in the province's Beibu Gulf Economic Zone(See Below).
In recent years Guangxi's economy has languished behind that of its wealthy neighbor and twin, Guangdong. Guangxi's 2011 nominal GDP was about 1171.4 billion yuan (US$185.9 billion) and ranked 18th in China. Its per capita GDP was 15,800 yuan (US$2,300).
Due to its lack of a major manufacturing industry in comparison to other provinces, Guangxi is the fourth most energy efficient province in China, helping to further boost its green image.
Read more about this topic: Guangxi
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)