The Third Session of the Tenth Hunan Provincial People's Conference

The Third Session of the Eleventh Hunan Provincial Committee of the CPPCC

Hunan Province’s Economy Maintained a Steady and Rapid Development in 2009

On January 24, the Information Office of the Hunan Provincial Government held a press conference, at which Zhang Shiping, director of the Hunan Provincial Bureau of Statistics, briefed the province’s economic and social development situation in 2009. According to the preliminary calculation, in 2009, the province's GDP totaled 1293.069 billion yuan, an increase of 13.6% over the previous year. Thus, Hunan becomes one of the provinces whose economic growth rate ranked top in China. And 2009 is the year in which Hunan achieved a better development than any other year in history.

In 2009, the province’s economy continued to maintain a stable and rapid development, and yielded a fruitful result in the scientific great-leap-forward development and "overtaking around the curve" (outpacing other provinces). Analysis shows that in 2009 the economic and social development in Hunan generally carries six characteristics.

1. The economy has attained a fairly high growth rate. The primary industry realized an added value of 196.967 billion yuan, an increase of 5.0%; the secondary industry 568.219 billion yuan, a rise of 18.9%; the tertiary industry 527.883 billion yuan, an increase of 11.0%. According to the calculation based on the resident population, the per capita GDP exceeded 20,000 yuan for the first time, that is, 20,226 yuan, up 13.1% over 2008.

2. The economic structure has been optimized. In 2009, the domestic demand of Hunan Province increased and promoted the economic development. The whole province has invested 769.535 billion yuan in fixed assets, an increase of 36.2%. The province's total retail sales of social consumer goods amounted to 491.375 billion yuan, up 19.3%. The industrial economy was further pushed forward, with the total industrial added value reaching 481.44 billion yuan, an increase of 18.5%, and the contribution to economic growth accounted for 50.3%. Both the total retail sales of social consumer goods and the total industrial added value have hit a record high since the policy of reform and opening up was implemented.

3. The basis has been strengthened. The province's planned total investment in new projects was 594.709 billion yuan, an increase of 70.1%. 9,825 projects have been already put into operation, an increase of 10.7%; 357.253 billion yuan was newly invested in fixed assets, a rise of 56.7%. The whole province’s investment in rural areas totaled 81.526 billion yuan, up 24.6%.

4. The benefits have been increased. The profits of enterprises witnessed a quick upturn. The province's enterprises of above-scale industries resulted in 57.19 billion yuan in profits after deducting losses, an increase of 46.1%. The province's fiscal revenue gradually turned out a positive development trend, with the total amount reaching 150.458 billion yuan, up 14.5%.


5. The people's livelihood has been improved. People’s income increased steadily. The per capita disposable income of urban residents reached 15,084 yuan, an increase of 9.1%; the per capita net income of farmers attained 4,910 yuan, up 8.8%. The province’s investment injected in the projects oriented to people's livelihood and ecological environment rose by 46.3% and 140% respectively. A total of 603.2 thousand new jobs were created in urban areas.

6. The quality has been improved. In 2009, the province's actual utilized foreign direct investment amounted to 4.598 billion USD, an increase of 14.8%; the actual executed domestic fund reached 144.298 billion yuan, an increase of 17.3%. The balance of the RMB and foreign currency loans of the province’s financial institutions was 953.662 billion yuan and the newly added loans 252.759 billion yuan, making an all-time high. The innovation ability has been enhanced, and the high-tech industries achieved an added value of 142.71 billion yuan.

Translator: Zhou Jingqi