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Overview

Source: hubei.gov.cn 04/25/2019 10:04:49
According to the government report of Hubei Province for 2018, which was delivered by provincial governor Wang Xiaodong on January 14, 2019, in Wuhan, overview of Hubei's economic performances by the end of 2018 were listed as below:
 
● The regional GDP is estimated to be around 7.8%, higher than the national level, better than expectation.
 
● The new economy has been booming, with more evident support from new growth drivers.
 
● The contribution rate of the service industry to economic growth reached 54.7%.
 
● Taxes accounted for 74.5% of the local general public budget revenue.
 
● The added value of high-tech industry increased by 12.8%
 
● Three national-level high-tech zones and more than 1,200 hi-tech enterprises were established.
 
● The technical contract turnover exceeded 120 billion yuan.
 
● 13 world’s top companies has been introduced in.
 
● New foreign-invested enterprises increased by 53.7%, import trade increased by 12.7%.
 
● Hubei FTZ has achieved more than 200 system innovations, with 22,000 new enterprises.
 
● The investment in people’s livelihood has been continue to expand, accounting for over 75% of the local general public budget expenditure.
 
● New jobs have created for 920,000 people in cities and towns
 
● 240,000 sets of houses in shantytown and 130,000 sets of dilapidated houses in the countryside have been renovated.
 
● Residents' income growth was higher than the economic growth.
 
● By November of 2018, the province's total retail sales of social consumer goods have exceeded 1.65 trillion yuan, a year-on-year growth of 10.9 percent, 1.8 percent higher than national level; 
 
● By November of 2018, E-commerce transaction volume has reached 1.86 trillion yuan, a year-on-year increase of 24 percent; 
 
● By November of 2018, online retail sales has brought 207 billion yuan, up 24.7 percent year on year; 
 
● By November of 2018, imports and exports of goods have gained 320.51 billion yuan, a year-on-year increase of 12.9 percent;imports and exports of service have amounted to 71.6 billion; 
 
● By November of 2018, the value of newly signed foreign projects has reached 12.14 billion U.S. dollars and the foreign contracted projects has completed a turnover of 5.25 billion U.S. dollars, both numbers of which accounted for over 70 percent along the B&R countries; 
 
● By November of 2018passenger air services linking Wuhan with London and Mauritius, and new direct cargo air route with Liege have been opened. The international passenger and cargo air routes has increased up to 61;
 
● By November of 2018, the China-Europe Railway Express (Wuhan) has transported 33,000 TEUs of goods.