Overview of Hubei Province
Hubei Province is located in central China, abbreviated as "E", with its capital in Wuhan. The total area of the province is about 185900 square kilometers, bordering Anhui to the east, Chongqing to the west, Shaanxi to the northwest, Jiangxi and Hunan to the south, and Henan to the north. The terrain of the whole province is roughly surrounded by mountains on the east, west, and north sides, with a low and flat middle and an incomplete basin slightly open to the south. Mountains account for 56%, hills account for 24%, and plain lake areas account for 20%. Hubei Province is located in the subtropical zone, with most areas experiencing a subtropical monsoon humid climate.
Hubei Province has diverse terrain and landforms, with mountains, hills, plains, and lakes intertwined. In the northwest, there are Wudang Mountains and the eastern section of Daba Mountain, including Shennongjia, Jingshan, and Wushan, with dense forests and deep river valleys. In the southeast, there is the Mufu Mountain Range, and in the middle, there is the typical Jianghan Plain with flat terrain, fertile soil, and dense lakes. The highest point in the province is Shennongding in Shennongjia, with an altitude of 3106.2 meters.
As of June 2023, Hubei Province has 12 prefecture level cities, 1 autonomous prefecture, and 4 county-level administrative regions directly under the central government, with a permanent population of approximately 58.44 million. Hubei Province's economy is mainly based on industry and agriculture. In recent years, it has attached great importance to the protection of arable land and food security. Through measures such as high standard farmland construction and land fertility subsidies, the stability and growth of arable land have been ensured. Hubei Province holds an important strategic position in the national development and is an important carrier of the development of the Yangtze River Economic Belt. It has abundant scientific and educational resources and a complete industry university research application chain.
The overall economic performance of Hubei Province in the first half of 2024 is stable, with an economic growth rate of 5.8%, which is 0.8 percentage points higher than the national average. Faced with a complex external environment and deep adjustment of economic structure, Hubei Province has consolidated the trend of economic recovery and improvement by implementing various policies to stabilize growth.
Specifically, Hubei Province has shown excellent performance in multiple economic indicators. The industrial added value above designated size increased by 7.9%, fixed assets investment increased by 5.9%, the total retail sales of consumer goods increased by 5.5%, and the operating income of the service industry above designated size increased by 10.8%, both faster than the national level. In addition, 538400 new urban jobs were created in the province, with an average surveyed urban unemployment rate of 5.3% and a moderate increase of 0.4% in CPI.
From the perspective of regional development, Wuhan, as the capital and economic engine of Hubei Province, had a total GDP of 997.519 billion yuan in the first half of the year, with a nominal growth rate of 4.97%. Huanggang City has performed outstandingly, with a total GDP of 128.904 billion yuan and a growth rate of 5.17%. Jingmen City, with its geographical advantages and developed transportation network, has a total GDP of 118.034 billion yuan.
The economic growth of Hubei Province has benefited from multiple supporting measures. The investment growth of major projects is strong, with 1049 major projects completing a 16.0% increase in investment. Key industries such as computer communication electronics, electrical, non-ferrous, and chemical industries have achieved rapid growth, driving a total of 5.1 percentage points in the province's industrial growth. In addition, the eight key industries in the service sector saw a combined growth of 17%, further driving economic growth.
The economic performance of Hubei Province is not only reflected in its economic growth rate, but also in its quality improvement and structural optimization. The profits of industrial enterprises above designated size increased by 43.7%, the per capita disposable income of urban residents increased by 4.0%, and the per capita disposable income of rural residents increased by 6.3%. These data indicate that the economy of Hubei Province has not only grown in quantity, but also achieved improvement in quality.
