Hunan, Hubei, Jiangxi to Be Built into National Trading and Logistics Hub

Updated:2017-11-07 11:08:36

  The Ministry of Commerce issued the Yangtze River Middle Reaches Regional Market Development Plan (2017-2020)in Wuhan on 1 November 2017. Hubei, Hunan, and Jiangxi provinces will, based on their geographical advantages, the “Belt and Road” initiative, and the Yangtze River Economic Belt strategy, build the region of the middle reaches of the Yangtze River into an important national trading and logistics hub.

  The plan put forward the main specific targets by 2020:

  1. Both urban and rural consumption scales will be expanded significantly, with the total retail sales of consumer goods reaching 5 trillion yuan, and an average annual growth of 10%;

  2. The level of modernization greatly improved, with the e-commerce transactions reaching 5.3 trillion yuan and an average annual growth of 15%. The green consumption will be increased;

  3. Enterprises’ competitiveness will be further enhanced. Two hundred circulation enterprises with annual sales of 1 billion yuan; 150 e-commerce industry demonstration bases; and, 150 logistics industry clusters are encouraged to set up;

  4. The business environment will be improved, and the three provinces will achieve initial results in unifying markets.

  Hubei, Hunan, and Jiangxi provinces along the middle reaches of the Yangtze River are important parts of the Yangtze River Economic Belt, and also the core areas of central China.