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Profiles of Six Provinces | Investment Policy
Investment Policy

Hunan Province

Hunan Province

Hunan Province lies in south-central China between 24°38'-30°08' N and 108°47'-114°15' E and has an area of 211,800 square kilometers (81,776 square miles). It is adjacent to Jiangxi Province in the east, Chongqing Municipality and Guizhou Province in the west, Guangdong Province and Guangxi Autonomous Region in the south, and Hubei Province in the north.
According to the statistics released by the Hunan Provincial Bureau of Statistics, Hunan’s economy maintained steady progress in 2013, and people’s livelihood was continuously improved.
According to preliminary accounting, the province’s gross regional production value reached 2,450.17 billion yuan in 2013, a year-on-year growth of 10.1%. The added value in the primary, secondary and tertiary industry reached 309.92 billion, 1,151.74 billion and 988.51 billion yuan, increasing by 2.8%, 10.9% and 11.4% respectively. 
In the whole year of 2013, Hunan’s overall CPI grew by 2.5%, 1% below the control limit.  Sample survey made by the survey team of the National Bureau of Statistics to Hunan Province shows that the disposable income per capita of urban residents of the whole province reached 23,414 yuan, growing by 9.8%, and up by 7% in inflation-adjusted terms. The rural per capita net income was 8,372 yuan, rising by 12.5% and 9.8% when inflation was adjusted.
As for the investment of the province, the domestic investment in Hunan maintained a steady growth in 2013, with 5,136 projects implemented and a paid-in investment of 288.39 billion yuan, making a year-on-year growth of 16.97%.
Among the solicited projects, 1,406 are located in 139 industrial parks above provincial level, with the actually utilized capital reaching 102.004 billion yuan, accounting for 35.3% of the provincial total. The investment mainly came from Guangdong, Beijing, Zhejiang Fujian, and Hubei Province.
Hunan gave full play to Hunan commerce chambers in other provinces and regions as well as Hunan entrepreneurs’ business network to attract investment from Hunan entrepreneurs. The Sodality of Hunan Chamber of Commerce established in August 2013 served as a central pivot linking Hunan commerce chambers and Hunan businessmen. More than 2,000 key projects were released through the network and information platform of chambers and the available funds invested by Hunan entrepreneurs exceeded 50 billion yuan for the whole year. Up to the end of last December, the number of members of Hunan Chamber of Commerce had increased to 201 from over 40 in 2007.
As released in the Report on the Work of the Hunan Provincial People's Govnernment which was published on Feb. 10 of 2014, the economy of the province maintained a steady development within 2013. Faced with grim domestic and international economic environment, series of policies and proposals have been taken to boost county economy, support key industries, promote major projects and generate financial resources to support economic growth. Owing to these measures, the pressure of economic downstream was overcome, and a gradual economic recovery was seen in the latter half of 2013. The GRP reached 2.45 trillion yuan, increasing by 10.1%. The province’s investment in fixed assets exceeded 1.8 trillion yuan; the retail sales of consumer goods totaled 890 billion yuan, and the total import and export volume reached 25.16 billion USD. Effective measures were taken towards serious drought and other natural disasters, and grain production was better than expected with the gross output hitting 29.25 billion kilograms. The public financial revenue surpassed 330 billion yuan, among which local financial revenue was 202.36 billion yuan. The per capita income of urban and rural residents amounted to 23,414 and 8,372 yuan respectively. Lens Technology (Changsha) Co., Ltd, Environmental & Sanitation Industrial Park of Zoomlion Heavy Industry Science & Technology Development Co., Ltd. in Lugu, and Beijing Automobile Works (BAW) Zhuzhou Branch went into operation, while Shanghai Volkswagen Changsha Manufacture Plant, Foxcon (Hengyang) Large Colour Television and other major projects started construction.
Transformation of economic development mode and structural adjustment were pushed forward thoroughly. The structure of primary, secondary and tertiary industries was adjusted to 12.7: 47: 40.3, and the ratio of the tertiary industry increased by 1.3 percentage points. Industrial strength was enhanced. The total industrial added value exceeded 1 trillion yuan. The main business income of the industries above designated size topped 3 trillion yuan. The share of the added value of high-tech industry in that of the industries above designated size rose by 1.3 percentage points. The competitive industries such as electronic information, new material, and automobile industry saw accelerated development. Agricultural modernization progressed steadily, and processing of agricultural products witnessed sales revenue of 574 billion yuan. Reinforced efforts were made in scientific and technological innovation. The average yield of super hybrid rice hit a new record of 988.100 kg per mu (0.067 hectare). 12 major scientific and technological special projects including 3D printing technique and clean smelting of antimony were approved. The investment structure was optimized. The private investment amounted to over 1 trillion yuan, with its proportion in the total investment rising to 62%. The proportion of industrial investment stood at 34.7%. (Source: 2014 Report on the Work of the Hunan Provincial People's Government)

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