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15 July 2015

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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, the added value of Hunan's tourism industry and its related industry in 2017 reached 203.621 billion CNY, up 15.67% over the previous year (when not considering price factors).

 

As of 2017 end, the added value of tourism and its related sectors in eight cities each exceeded 10 billion CNY, namely Changsha, Zhuzhou, Xiangtan, Hengyang, Yueyang, Changde, Zhangjiajie, and Chenzhou.

 

Zhangjiajie City and Xiangxi Tujia and Miao Autonomous Prefecture contributed the most to Hunan's economy. The proportion of the added value of their tourism and the related sectors accounted for 32.16% and 15.45% of the provincial GDP respectively, ranking the first two places in the province.

 

On November 21, 2018, the Hunan Government Information Office held its 17th press conference in Changsha for the celebration of Hunan’s 40th anniversary of reform and opening up. At the conference, the Department of Culture and Tourism released Hunan’s achievements in culture and tourism reform and development.

 

Over the past 40 years, the tourism industry enjoyed a higher status in the whole province. Economic contribution has been greatly enhanced. New breakthroughs have been made in the development of inbound tourism market. The tourism supply system has been gradually improved. Hunan has made a big jump in tourism, making it turned from a strong province in tourism resources into the one in tourism industry.

 

Hunan possesses three World Heritage Sites, including Zhangjiajie, Langshan Mountain, and Laosicheng; and 393 A-level scenic spots. The influence of its image as "Splendid Xiaoxiang" has been significantly enhanced.

 

In 2017, there were 669 million domestic and foreign tourist trips made in Hunan, an increase of 107 times over 1988, making Hunan rank the sixth in the country. The total tourism revenue reached 717 billion CNY, ranking eighth in the country. The added value of tourism industry amounted to 203 billion CNY, accounting for 5.89% of Hunan’s GDP. It has effectively promoted poverty alleviation strategy implementation.

 

By taking the construction of “all-for-one tourism center” as the leading drive, Hunan has practised a series of measures to promote the inbound tourism growth. The total number of inbound tourist trips has increased from 65,000 in 1988 to over 3 million in 2017. (Updated on November 23, 2018)

 

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