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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.

 

Science & Technology

 

There were 4 national and 100 provincial engineering research centers in Hunan by the end of 2017. 18 national-provincial joint engineering research centers and 34 engineering laboratories were set up. 14 national engineering(technology) research centers and 285 engineering (technology) research centers at the provincial level were established. There were 18 national key laboratories and 204 key laboratories at the provincial level as well as 45 national-recognized enterprise technology centers. A total of 5,723 technology transfer contracts were signed, representing 20.311 billion yuan in value. The number of registered scientific research results reached 704, among which, 16 won National Scientific and Technological Advancement Awards, and one National Natural Science Awards.

 

In 2017, a number of major innovations were made, such as the third generation hybrid rice breeding, virtual track train, 1000Kv field assembled transformer, and the first microgravity chemical satellite “Chenjiayong No.1 Satellite”.Key national technological projects including the “two major machines” (aircraft engine and gas turbine) special program were undertaken and the homegrown AG600, codenamed Kunlong using Turboprop engine 6 took to the skies for its maiden flight. The number of patent applications and authorized patents reached 77,934 and 31,365 respectively, increased by 27.8% and 41.9%.

 

Of this total, 37,916 patent applications for original inventions were accepted, up by 9.6%; and 7,909 patents for such inventions were authorized, up by 10%. The number of patent applications for enterprises, universities and colleges, and scientific research institutes reached 41,272, 12,428 and 708 respectively, while the number of authorized patents were 18,049, 7,308 and 369. The value-added of new and high-technology industry was 811.995 billion yuan, up by 14.7%.

 

In order to promote its scientific and technological competitiveness, the province also supported and carried forward a number of major science & technology projects in key technical areas. Tianhe-2 supercomputer developed by National University of Defense Technology obtained championships in supercomputing; the Sany transfer pump set a new world performance record; and a number of technologies of the CSR Zhuzhou Electric Locomotive Co., Ltd occupied first place in the country and even in the world, with its urban light rail trains exported to the Middle East. "Hunan technologies" and "Hunan inventions" are taking big strides forward in the rest of the world.

 

There were 4 national and 67 provincial engineering research centersin Hunan by the end of 2016. 15 national-provincial joint engineering researchcenters and 32 engineering laboratories were set up. 14 national engineering(technology) research centers and 243 engineering (technology) research centersat the provincial level were established. There were 16 national keylaboratories and 164 key laboratories at the provincial level as well as 45national-recognized enterprise technology centers. A total of 3,976 technologytransfer contracts were signed, representing 10.56 billion yuan in value. Thenumber of registered scientific research results reached 694, among which, 11won National Scientific and Technological Advancement Awards, two won NationalAwards for Technological Invention, and one National Natural Science Awards.The super hybrid rice average yield was 1,088 kilograms per hundred mu, hittinga world record again. A series of hi-tech products including the first trainwholly equipped with permanent magnet tractor system were successfullydeveloped. New technological breakthrough was made in pancreatic islets(langerhans) xenotransplantation. The number of patent applications andauthorized patents reached 67,779 and 25,524 respectively, increased by 24.4percent and 30.9 percent. Of this total, 34,050 patent applications fororiginal inventions were accepted, down by 0.1 percent; and 6,967 patents forsuch inventions were authorized, up by 2.8 percent. The number of patentapplications for enterprises, universities and colleges, and scientificresearch institutes reached 32,343, 11,973 and 783 respectively, while thenumber of authorized patents were 16,723, 5,881 and 369. The value-added of newand high-technology industry was 685.92 billion yuan, up by 16.0 percent.

 

By the end of 2017, 1,460 testing organizations for product inspection have been established in Hunan. Of which, there were 24 national product quality supervision and inspection centers, and 103 legal agencies for metrology verification. There were 1,768 special equipment manufacturers and 315 thousand such facilities across the province. 6,733 batches of key industrial products were under quality random inspection, with a qualification rate of 96.3%. Hunan has involved in the development of 13 international standards and 42 national standards, and established 224 local standards. The departments of land and resources published 109 kinds of maps, witnessed 623 thousand visits to MAPWORLD, and offered 518 thousand fundamental geographic information data.

 

Data source: Statistical Communiqué on Hunan's Economic and Social Development 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