| Market Profiles on Chinese Cities and Provinces |
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1.2008 HUNAN PROVINCEMajor Economic Indicators
Notes: 1 In real terms 2 For all state-owned enterprises and other forms with annual sales over RMB 5 million 3 Jan-Jul Sources: Hunan Statistical Bureau 2007, China's customs statistics 9.2007 General Background Hunan has a total area of 212,000 square kilometers. The total population stood at 67.7 million in 2006. Hunan - abbreviated as Xiang - is laced with lakes, including the Dongting Lake which is the second largest fresh water lake in China. Blessed with a subtropical temperate climate and abundant rainfall and sunshine, Hunan is the largest producer of rice in China. In particular, Hunan is the third largest producer of tea, and the fourth largest producer of citrus, tobacco and meat. Hunan is also one of southern China's main timber bases. Hunan has rich reserves of minerals. Its reserve of tungsten, antimony, zinc and bauxite are among the top in China. Other major deposits of minerals include lead, tin, barite and graphite mineral. It is named as the "country of non-ferrous metals" and the "country of non-metal minerals". Hunan enjoys a favorable geological location: it is situated at the development belt of the middle and lower reaches of the Yangtze River; it is adjacent to Guangdong and container trucks can get to Hong Kong within one day. Industries The primary sector still accounted for almost 18% of Hunan's GDP in 2006. Among the agricultural sector, animal husbandry accounted for 38% of the gross output in 2006, up from 29.5% in 1990. In recent years, Hunan is also developing into a production base of dairy products. Composition of GDP (%)
Source: Hunan Statistical Yearbook, 2007 Hunan has evolved a complete industrial system, and formed a considerable capacity in the production. Industries are mainly located at Changsha, Yueyang, Zhuzhou and Hengyang, which together accounted for over 54% of Hunan's industrial output in 2006. Major Industry Groups (2006)
Source: Hunan Statistical Yearbook 2006 A large share of Hunan's industrial output is related to its rich mineral deposits. For example, smelting and pressing of ferrous and non-ferrous metals accounted for 19.6% of the total industrial output. In recent years, Hunan has become a base for relocation of manufacturing industries from such provinces as Guangdong, Zhejiang, Beiing, Fujian and Shanghai etc. In 2005, such investment in manufacturing reached RMB25.1 billion. For the tertiary industry of Hunan, the sector of culture, sports and entertainment appears to be "the pearl on the crown". Hunan TV is very popular among domestic TV wacthers. In 2006, value-added from this sector reached RMB10.9 billion, accounting for 9.2% of that of the nation, while Hunan' GDP accounted for only 3.6 % of the nation's total GDP in the same year. Tourism Hunan has rich historical heritages and tourism resources. Historical sites include Yueyang Tower, one of the three historical monuments in South China; Yuelu Academy, one of the top four academies in the Song Dynasty (960-1279A.D.); Aiwan Pavilion, one of top four pavilions in China; tomb of Mawangdui. Natural scenic spots include Mount Hengshan, Dongting Lake and Zhangjiajie. There are 88 revolutionary bases in Hunan Province, including the former home of Mao Zedong. In 2006, Hunan received 91 million (+28%) domestic tourists with the tourism receipts of RMB54.7 billion (+29.8 %) and 971 thousand (+34.9%) overseas tourists with the foreign exchange revenue of US$503 million (+28.8%). Foreign Trade Major export items included rolled steel, textiles, clothing and apparels, porcelain and pottery wares, fireworks and firecrackers etc. Major export markets in 2006 were Hong Kong, the EU, the US and Japan. In 2006, major imports included iron ore, autoparts, rolled steel, and paper pulp etc. Major import sources were Japan, South Korea and the US. Hong Kong is the leading export market of Hunan. In 2006, Hunan's exports to Hong Kong stood at US$804 million. Hunan imported US$17 million worth of goods from Hong Kong. Foreign Investment Most of Hunan’s utilized FDI went to the secondary industry, but the tertiary industry recorded rapid growth in 2006 (+41.6%). By the end of 2006, large foreign companies in Hunan included Pepsi, NEC, Hutchison Whampoa, Mitsubishi and Time Warners etc. Changsha, Hengyang and Zhuzhou are major FDI destinations. Hong Kong is the leading investor in Hunan. In 2006, Hong Kong actual investment amounted to US$1,312 million, accounting for 50.6% of the total. Other major investors were Taiwan, the US, Germany and Japan. Consumer Market In 2006, retail sales of consumer goods in Hunan rose by 15.3% to RMB283.4 billion. Changsha is the largest consumer centre, accounting for 31% of the province's total retail sales. Major department stores and shopping centres in Hunan include Hunan Changsha Friendship Group, Changsha Department Store and Hengyang Department Store. There are various forms of modern operation such as chain stores, supermarkets and convenience stores in Hunan, represented by Wal-mart from the US, Metro from Germany, Carrefour from France etc. Economic Indicators of Major Cities (2006)
Source : Hunan Statistical Yearbook, 2007 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
