|Heilongjiang Business Information|
|GDP (USD)||142 B|
|USD:RMB Exchange Rate||1:6.5|
|Average Mfg Employee Wage (per month)||2,497 RMB|
|Average Industrial Facility Cost (per month)||22.7 RMB/m2|
|Access to Logistics||Fair|
Heilongjiang is China’s northernmost province and leader in the inland oil extraction, wheat and grain production, and logging industries. Heilongjiang shares the majority of its border with Russia and has traditionally attracted a majority of Russian foreign investment. Heilongjiang’s natural resources and convenient location have made it an attractive place for private investors. Oil and timber projects have been a contributing factor to its FDI. The city of Daqing, in Western Heilongjiang, is well known within China for heavy worker unionization and some of China’s most powerful labor unions. Despite this, Heilongjiang’s favorable investment incentives and its 34 national and state level development zones make it a cost efficient place to invest.
|Major Cities in Heilongjiang||Heilongjiang’s Main Industries|
In 2008, Heilongjiang generated a GDP of USD 121 billion. In 2010, it grew to a GDP of USD 143 billion. Heilongjiang and its major cities are attractive to many foreign investors. 23 of the world’s top 500 enterprises have invested in Heilongjiang, contributing to its 2008 Foreign Direct Investment (FDI) utilization of USD 2.5 billion. 2009 statistics show that Heilongjiang FDI has remained somewhat stagnant at USD 2.36 billion. Its skilled labor force is fed by 65 universities and 605 designated science research institutes, enrolling 627,000 students annually.
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