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Overview

Source: hubei.gov.cn

Basic Economic Statistics in 2011

In 2011, the Gross Domestic Products (GDP) of Hubei province amounted to 1.96 trillion yuan, up 13.8 percent over the previous year. It ranked top ten nationwide. Local public budget revenues reached 147 billion yuan with an increase of 45.4 percent and are among the top in the country. The fixed asset investment of the whole society rose by 28.7 percent and private investments grew 42.1 percent, accounting for 57.6 percent of the total investment in the province. The number of new projects worth over 100 million yuan stood at 1,427 with an increase of 405. The total social retail goods were valued at 792.78 billion yuan, an increase of 18 percent.

The above-scaled industrial added value grew by 20.5 percent to 856.56 billion yuan. Both profits and tax revenues surpassed one hundred billion yuan, reinforcing Hubei’s dominant position in the industry. Emerging strategic industries saw growth this year, with eight industries valued at over 10 million yuan. The operating revenue for the automotive industry stood at over 350 billion yuan, and that of the food, steel, and petrochemical industry reached over 300 billion yuan.

The Development zones and high-tech zones lead the rapid industrial growth, and the output value of the high-tech industry was up to over 230 billion yuan, an increase of more than 23 percent. Technical contract turnovers rose by 31 percent to 11.9 billion yuan.

Finance, e-commerce, outsourcing, and other modern services developed quickly and the tourism revenue reached 198.7 billion yuan, an increase of 36 percent. Loans from financial institutions in the province rose by 254.2 billion yuan, up 18.2 percent. Band of Hubei and the Yangtze River Property Insurance Company opened. The back-office service centers of 22 financial institutions settled in the Optics Valley Financial Harbour. There were ten new listed companies (one overseas company), financing 21.8 billion yuan and 1.5 billion Hong Kong dollars. Five provincial financing platform companies made investments of 60.6 billion yuan, leading to a total social investment of 201.2 billion.

Note: the exchange rate 1 USD = 6.** RMB yuan