As part of the China Western Development policy, Xi’an became a major target for accelerated attention. From 1997 to 2006, the industrial output value of Xi’an’s service industry increased at an annual average rate of 13.74%, compared to traditional service industries of 0.74%, representing a growth from US$8.113 billion to US$25.85 billion. Xi'an is the largest economy of the Shaanxi province, with a GDP of 324.1 billion Yuan in 2010. On average this value increases by 14.5% annually, and accounts for approximately 41.8% of Shaanxi's total GDP. At least fifty-eight countries have established over 2,560 enterprises in Xian, including nineteen of the Fortune 500 enterprises. These include ABB Group, Mitsubishi, Toshiba, Fujitsu, Coca-Cola, and Boeing.
Important industries include equipment manufacturing, tourism, and service outsourcing. The manufacturing industry had an annual output of RMB 36.5 billion, accounting for 44.5% of the city's total. Furthermore, as one of China's four ancient capitals, Xi'an's many cultural sites, including the Terracotta Army, the City Wall of Xi'an, and the Famen Temple, make tourism an important industry as well. In 2010, 52 million domestic tourists visited Xi'an, earning a total income of RMB 40.52 billion. On average, revenue increases by 36.4% per year, and foreign-exchange earnings (530 million in 2009) increase by around 35.8%.
Xi'an is also one of the first service outsourcing cities in China, with over 800 corporations in the industry. The city's output value from this sector exceeded RMB 23 billion in 2008. Employment in the sector doubled from 1997-2006, from a base of 60,000, and computer consulting also doubled from 16,000 to 32,000. As a result of the importance of the software-outsourcing industry, the city planned construction of a Software New Town, which is scheduled to be completed in 2015 with 30 billion RMB investment. Other major export goods include lighting equipment and automobile parts, while its major import goods are mechanical and electrical products. Internationally, Xi'an's largest trade partner is the United States.
Xi'an is part of the West Triangle Economic Zone, along with Chengdu and Chongqing.
Industrial zones
Major industrial zones in Xi'an include:
Xi'an Economic and Technological Development Zone
Xi'an Hi-Tech Industries Development Zone
Software and outsourcing industries
CBD, Tangyan Road, Xi'an
The growing economy of Xi'an supports the development of a software industry, and the city is a pioneer in software industry in China.
A Silicon.com article describes Xi'an: "But Xi'an is selling on its own merits - with a large pool of cheap human resources from the 100 universities in the area, it hoovers up around 3,000 computer graduates every year, each earning approximately $120 a month - half the wages for the equivalent job in Beijing."
Aerospace industry
In November 2006, Xi'an and the China Aerospace Science and Technology Corporation jointly set up Xi'an Aerospace Science and Technology Industrial Base. From its establishment, the base has focused on the development of the civil space industry, including equipment manufacturing, software and service outsourcing, new materials and solar photovoltaics.
Apart from the core area, the base will cover Xi'an and the Guanzhong area and the expansion zone will reach other parts of Northwest China and Southwest China. It is expected that by 2012 the total industry output can reach 2.8 billion us dollars with about 10 to 20 brand products with intellectual property rights and 5-8 products with global competitiveness.
In 2008, after the launch of the initial aerospace centre in Shanghai, the PRC is constructing another civil aerospace centre in the Shaanxi province. The State Development and Reform Commission approved the planning of Xi'an National Civil Aerospace Industrial Base on December 26, 2007. The National Civil Aerospace Industrial Base of Xi'an, set to cover 23 km2 (8.9 sq mi), will focus on developing satellites, new materials, energies, IT and other technologies for civil applications.
Famous economists
Chinese economists from Northwest University in Xi'an includes Zhang Weiying (张维迎), Zhang Shuguang (张曙光), Weijie (魏杰), Liu Shijin (刘世锦), Song Ze (宋则), Feng Lun (冯仑), Feng Zongsu (冯宗苏), Zou Dongtao (邹东涛), Li Yiping (李义平), Zuo Zhonghai (左中海). Zhang Chaoyang (张朝阳), the CEO of SOHU (Nasdaq) company, born and grew up in Xi'an, is a prominent leader in the Chinese Internet industry. Liu Chuanzhi, the founder and president of Lenovo Group Limited, completed his tertiary degree from Xidian University in 1960s.