Hunan’s key economic indicators of open economy were higher than the national average and the GDP growth rate of the province, according to a press conference on Hunan’s economic success achieved by reform and opening up held on Nov. 1, 2016. Since the inauguration of the 10th CPC Party Congress in 2011, the province has fully implemented the development strategy of “rise by opening up” and its open economy has maintained a sound momentum of leap development.
In terms of foreign and domestic investment, Hunan has ranked among the leading provinces in central and western China. Its foreign investment in actual use exceeded 11 billion USD in 2015, with an annual growth rate of 17.4 percent during the 12th Five-year Plan period. The province’s domestic direct investment hit 380 billion yuan, grew by 16.4 percent annually. The foreign trade volume had an average annual increase of 14.9 percent to nearly 30 billion USD, ranking fourth in China. The contracted amount of Hunan’s outward foreign direct investment reached 2.8 billion USD, realizing an average annual growth of 31.8 percent and ranking first in central China. The turnover generated from overseas-contracted projects and labor cooperation stood at 5.2 billion USD, with an annual growth rate of 26.2 percent. The number of exit and entry passengers at airports ranking second in central China, totaled 1.88 million, and achieved an average annual growth of 28.5 percent.
Under the pressure of economic downturn, Hunan has maintained a steady growth rate of over 35 percent in the contracted amount of Hunan’s outward foreign direct investment and the number of exit and entry passengers at airports in the first three quarters of this year.
Please refer to www.enghunan.gov.cn when using the article.
Translator: Xiao Juan
Chinese source: hunan.gov.cn