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15 July 2015

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Hunan Economy Witnesses Stable Growth in 2016

2017-06-30 Download Print

On June 28, the Hunan Economic and Information Technology Commission announced the 2016 Evaluation Report on Hunan Economic Operation Quality (the Report).

Hunan industrial economy maintained stable and sustainable development in 2016. The industrial added value accounted for 35.8% of Hunan’s GDP, contributing 31.6% of the economic growth. The value added in industrial enterprises above designated size increased 6.9% year on year, 0.9 percentage point higher than the national average. The profits generated by industrial enterprises above designated size was 162.05 billion yuan, a year-on-year increase of 4.5%.

The economic structure was optimized. The value added in industrial enterprises above designated size of industrial parks at or above provincial level rose by 9.4%, 0.4 percentage point higher than the same period of last year. The main business income of large and medium-sized industrial enterprises occupied 49.7% of the provincial total. The value added in strategic emerging industries increased 9.4% to 349.92 billion yuan, taking up 11.2 % of Hunan’s GDP. The value added in automobile industry grew by 36.1% year on year, contributing 16.8% of the provincial total industrial growth. Hunan produced 39,000 new energy vehicles in 2016.

Competitiveness in international market has been strengthened. The exports of industrial products increased 1% year on year to 117.66 billion yuan, accounting for 97.6% of the provincial total. The amount of actually used foreign investment and investment from outside the province accounted for 23.9% of the provincial total. Hunan’s foreign investment maintained stable growth. Hunan approved 65 overseas manufacturing enterprises in 2016.

Innovation-driven development remained stable. The patent application by industrial and mining enterprises was 32,343 in 2016. A total of 16,723 patents were authorized.

Integrated development has been achieved in industry and informatization. The valued added in information industry accounted for 3.62% of Hunan’s GDP. The valued added in electronic information industry increased 11.9% year on year to 84.5 billion yuan, 1.9 percentage points higher than the national growth rate. More than 200 enterprises were listed on Integrated Circuit Board and Mobile Internet Board in Hunan Equity Exchange.

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Translator: Xiao Juan

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