Xiamen in eastern Fujian province has seen a 3,274-fold increase in GDP since the founding of the People's Republic of China in 1949. [Photo/IC]

Xiamen in eastern Fujian province has seen a 3,274-fold increase in GDP since the founding of the People's Republic of China in 1949, according to Xiamen Municipal Bureau of Statistics.

In 2018, Xiamen's GDP totaled 479.14 billion yuan ($68.02 billion), a 3,274-fold increase over 1950 and an annual increase of 12.8 percent since then.

In the first 30 years since the founding of PRC, the GDP in Xiamen increased from 36.34 million yuan to 480 million yuan, an 11.1-fold increase compared with that of 1950.

After the implementation of the reform and opening-up policies in the Chinese mainland in 1979, Xiamen experienced fast-paced development and, in 2005, its GDP exceeded 100 billion yuan for the first time.

Thereafter, the GDP in Xiamen exceeded 200 billion yuan, 300 billion yuan, and 400 billion in 2010, 2013 and 2017 respectively. In 2018, its GDP grossed 479.14 billion yuan.

In the same year, the industrial added value, total retail sales of consumer goods, and total general public budget revenue in Xiamen stood at 167.22 billion yuan, 154.24 billion yuan and 128.33 billion yuan with respective 19,200-, 4,027- and 13,800 -fold increases over 1950.