Service Sector

The year of 2017 witnessed a vigorous development in service sector: such industries as radio, film and television; animation and cartoon; cultural creativity; publication; and tourism sprang up at a fast speed. Competitive industries - radio, film and television, and publication, held a leading position throughout the nation; Hunan radio, film and television, Hunan publication and Hunan animation became nationally well-known. The “Huxiang Library” collection which has been taken seven years to edit and issue incorporates 702 volumes with nearly 4 billion characters, forming a new landmark in the history of Huxiang Culture; Golden Eagle Broadcasting System ranked the fifth place among Asian Television Top 10; Hunan Channel, characterized by innovation, liveliness and joy, was much loved by the public and its ratings ranked the first place among all provincial channels in the nation.

Tourism Industry

Located in the south central part of the Chinese mainland, Hunan has long been known for its natural beauty. Its mixture of mountains and water makes it among the most beautiful provinces in China. As the cradle of Huxiang Culture, Hunan boasts profound cultural deposits and abundant sites of historic significance and cultural heritages, which attract tourists from all over the world.

According to the Hunan Provincial Statistics Bureau data, Hunan tourism and related industries added value reached 223.075 billion CNY in 2018, accounting for 6.12% of GDP. 

Hunan tourism industry rose to 198.411 billion CNY in added value during 2018, accounting for 88.94% of all the provincial tourism and related industries added value. Tourism-related industries added value was 24.663 billion CNY, accounting for 11.06% of the total.

Tourist trip added value was 59.353 billion CNY, accounting for 26.61% of the total; accommodations were 20.938 billion CNY, accounting for 9.39%; catering was 39.676 billion CNY, accounting for 17.79%; sightseeing was 17.852 billion CNY, accounting for 8%; shopping was 29.703 billion CNY, accounting for 13.32%; and, entertainment was 16.766 billion CNY, accounting for 7.52%. 

Each of the following cities had more than 10 billion CNY in total volume of tourism and related industries: Changsha, Zhuzhou, Xiangtan, Hengyang, Yueyang, Changde, Zhangjiajie, and Chenzhou. Their added value was 170.283 billion CNY, accounting for 76.33% of the provincial total. The top three are Changsha, Zhangjiajie, and Yueyang, had 59.225 billion CNY, 18.757 billion CNY, and 18.424 billion CNY respectively. The tourism and related industries added value to Zhangjiajie, Xiangxi Tujia and Miao Autonomous Prefecture, and Xiangtan have the highest proportion in GDP, accounting for 32.40%, 16.01%, and 5.93%, respectively. The top three cities in terms of percentage increases are Xiangtan, Xiangxi Tujia and Miao Autonomous Prefecture, and Loudi, which increased by 0.65, 0.56, and 0.53 percentage points respectively.

(Updated on May, 2019)

Science & Technology

Hunan has remarkable achievements in science and technology. A series of innovations have exerted a major influence at home and abroad, such as the super high-yield hybrid rice, supercomputers, ultra-speed trains, and medium-low-speed magnetic levitation (maglev) train. The number of scientific and technological personnel has continued to grow, which has reached 1.79 million, a nine-fold increase compared to 1978. The research conditions have notably improved. By 2017, there have been 18 national key laboratories, 14 national engineering and technology research centers, 3 national centers for clinical medical research, and 589 provincial R&D service platforms. This year, Hunan has mobilized resources throughout the province to create an innovative province and has been officially approved.  

In the past four decades since the reform and opening up, the supporting role of the scientific and technological innovation has been obviously enhanced, and the momentum of leading high-quality development has gradually emerged. At present, Hunan Province has 8 national high-tech zones and 25 provincial ones. In 2017, Hunan's high-tech industry has realized an added-value of 812 billion CNY, an increase of 9.7 times compared to 2007. The number of high-tech enterprises has exceeded 3,000 in 2017. 

Finance & Insurance

Hunan's total fiscal revenue reached 456.57 billion yuan, up by 7.4% compared with the previous year, and local fiscal revenue, totaling 275.67 billion yuan, increased by 4.9%. Of the total, tax revenue and non-tax revenue reached 175.88 billion yuan (an 18.7% increase) and 99.79 billion yuan (a 13% decrease) respectively. Tax revenue turned over to the central government reached 136.63 billion yuan (an increase of 12.8%), including 43.78 billion yuan income tax, an 18% increase. Hunan’s fiscal expenditure totaled 685.77 billion yuan, up by 8.2%. The expenditures for social security and employment, urban and rural communities affairs, as well as science and technology were 102.27 billion yuan, 73.37 billion yuan and 9.02 billion yuan, up by 17%, 14.5% and 26.3% respectively. While the expenditure for housing security was 25.21 billion yuan, down by 17.4%.

Savings deposits in RMB and foreign currencies in all items of financial institutions totaled 4,672.93 billion yuan at the end of the year, an increase of 11.3% compared with that at the end of the previous year. Of the total, savings deposit of households and non-financial enterprises were 2337.16 billion yuan and 1383.98 billion yuan, up by 10% and 12.8% respectively. By the end of the year, loans in RMB and foreign currencies in all items of financial institutions totaled 3,185 billion yuan, up by 15.7%. Of the total, loans for households, and loans for non-financial enterprises and government agencies and organizations were 1090.42 billion yuan and 2085.18 billion yuan, up by 19.5% and 13.7% respectively.

There were 116 listed companies in Hunan Province by the end of 2017, among which 101 are listed at home and 15 listed overseas. There were 17 new companies listed on China’s A-share market in the year. The direct financing of the province totaled 344.46 billion yuan, up by 9.5%. Of the total, 61.28 billion yuan was raised through issuing stocks and rationing shares. At the end of the year, there were 410 stock companies in the province with 6680.97. billion yuan trading volume. There were three futures companies in the area with 1853.6 billion yuan business volume. 

The premium received by the insurance companies totaled 111.02 billion yuan in 2017, up by 25.2% over the previous year. Of the total, the premiums of life insurance, health insurance, accident insurance and property insurance were 63.43 billion yuan (a 27.9% increase), 13.43 billion yuan (an increase of 40.7%), 2.75 billion yuan (an increase of 23.4%) and 31.42 billion yuan (an increase of 15.1%) respectively. Meanwhile, insurance companies paid an indemnity worth 37.68 billion yuan, a growth of 10.8%.

Source: Statistical Communiqué on Hunan’s Economic and Social Development in 2017 

Updated on March 28, 2018