Hubei

Often called the "Land of Fish and Rice", Hubei is an important agricultural province, particularly for rice, rapeseed and freshwater products, while important industries include iron and steel production and automobile production. The province’s economy is built around Wuhan's strong automobile and metallurgy industries and its role as a commerce, transportation and distribution centre; new industries and transportation networks will be centered about the capital. Hubei aims to maintain 10% GDP growth and double its per capita GDP by 2020. As well as maintaining the strength of its pillar industries, the province's 5 year plan looks toward expanding a hi-tech industry.

Some potential problems include the long-term effects of the Three Gorges Dam; while the project provides power and significantly reduces the risk of potential losses from Yangtze River floods, environmental impacts from the project have begun to appear. Additionally, Hubei has yet to show that its large economy can maintain growth without depending on influxes of fixed asset investment.

Hubei's GDP grew 11.3% to RMB2.23 trillion in 2012.

 

Hubei Quick Facts
  • Area
    185,900 km2
  • Population:
    57237740
  • Population density:
    324 people/km2
  • Gross domestic product:
    1596.8 billion RMB
  • GDP per capita:
    RMB
  • GDP growth:
    14.80%
  • Fixed Asset Investment:
    1080.3 billion RMB
  • Utilized Foreign Direct Investment:
    4.1 billion US$
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Top 5 Hubei Companies
    • Wuhan Iron & Steel Co (SHA: 600005) is a leading steelmaker. It posted RMB75.6 billion in revenues and RMB1.7 billion in net profits for 2010.
    • China Gezhouba Group Co (SHA: 600068) is an infrastructure and engineering contractor. It posted RMB36.58 billion in revenues and RMB1.38 billion in net profits for 2010.
    • Changjiang Securities Co (SHE: 000783) is offers services in securities broking, securities underwriting, asset management, stock index futures and financial derivatives. It posted RMB35.77 billion in revenues and RMB3.2 billion in net profits for 2010.
    • SDIC Huajing Power Holdings Co (SHA: 600886) is engaged in investment, construction, operation and management of power plants. It posted RMB15.95 billion in revenues and RMB494.49 million in net profits for 2010.
    • Fiberhom Telecommunication Technology Co (SHA: 600498) is engaged in manufacture and sale of communication equipment, and provision of network solutions. It posted RMB5.68 billion in revenues and RMB377.36 million in net profits for 2010.

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Hubei Economic and Technological Development Zones

    Changsha National Economic and Technology Development Zone Changsha National New & Hi-Tech Industrial Development Zone Chenzhou Export Processing Zone Zhuzhou National New & Hi-Tech Industrial Development Zone


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