Gansu is located on the western edge of central China. It is one of the poorest provinces in China and has one of the harshest climates as well. While its climate is not favorable for attracting companies or individuals to work there; it is an optimal place for solar power stations as well as wind farms and it is rich with mineral resources including antimony, chromium, coal, cobalt, copper, fluorite, gypsum, iridium, iron and lead. As a result Gansu's economy is dominated by mining and energy.
Along with its vast deposits of coal and rare earths Gansu is also home to China's largest nickel deposits located around Jinchang city. Proven reserves of Nickel in Jinchang are in the neighborhood of 5.5 million tones which is 90% of China's nickel reserves and the third largest in the world. Nickel production in Jinchang is exclusively controlled by Jinchuan Group one of Gansu's largest companies.
Gansu's GDP grew 12.6% to RMB565 billion in 2012. The provincial government has set goals in its most recent 5-year plan to increase GDP by 10% a year and will focus investment in five pillar industries renewable energy, coal, chemicals, non-ferrous metal materials, pharmaceuticals and services.
Lanzhou Economic and Technological Development Zone
Lanzhou New & Hi-Tech Industrial Development Zone