The structure of Hunan’s industrial economy has been optimized continually, and its quality and efficiency improved under the leverage of new urbanization, according to a statement made at the conference by Xie Chaoying, director of the Hunan Economic and Information Technology Commission. Xie added that Hunan’s economic operation quality has ranked first among the six provinces in central China since 2012.
Over the past five years, industry has become the main force to increase fiscal revenue of Hunan government. The annual average contribution rate of industry to economic growth reached 46.1 percent, and the paid in taxes by industrial enterprises witnessed an average annual increase of 12 percent.
The province’s industry continues to grow in size through phasing out outdate production capacity, revitalizing advanced manufacturing industry, and fostering emerging industry. The equipment manufacturing industry achieved a main business income of one trillion yuan and became the first one-trillion-yuan industry in Hunan. Now the province boasts ten 100-billion-yuan industries, involving machinery, foodstuff, non-ferrous metals, electronic information, light industry, building materials, metallurgy, petrochemicals, electric power, and medicine. A group of industrial clusters with 100-billion-yuan industries have taking shape, including Changsha engineering machinery, Zhuzhou rail transit, and Yueyang petrochemicals. The number of industrial enterprises with a main operating revenue exceeded 10 billion yuan totaled 19.
Innovative development has been a new engine to boost economic growth. A relatively completed policy-support system and technology innovation system have been established, and the research and development strength of industrial enterprises has taken the lead in central China. Many technologies and products developed by Hunan have a big influence on the world, including Tianhe supercomputers, Beidou navigation satellite system, carbon composite materials, and Insulated Gate Bipolar Translator (IGBT). Technology-led emerging industries have become a new driving force for industrial development, such as high-performance independent controllable computer, industrial-level 3D printing, high-performance composite, advanced energy storage materials, and high-performance industrial robot.
Please refer to www.enghunan.gov.cn when using the article.
Translator: Xiao Juan
Chinese source: hunan.gov.cn