Hunan High-Tech Industry Added Value Surpasses 800 Bln CNY

Last year, Hunan provincial high-tech industry realized an added value of over 846 billion CNY, a year-on-year increase of 14.0% and accounting for 23.2% of the total GDP. The statistics was announced by the Hunan Provincial Bureau of Statistics on March 25, 2019.Each of four major sectors – new materials, high-tech transformation of traditional industries, electronic information, and biology and new medicine – exceeded 100 billion CNY in added value.

New materials industry and high-tech transformation of traditional industries, two major pillars of Hunan’s high-tech industry, witnessed prominent progress. Over the past five years, their total added value, sales revenue, and profits and taxes accounted for about 50% of the total of provincial high-tech industries. In 2018, the provincial high-tech industry saw a notable momentum of upgrades and optimization. The added value of aerospace, resources and environment, and biology and new medicine industries grew by 24%, 18.4%, and 14.7%, respectively. The growth rates were much higher than the average.

The strength of key enterprises has been enhanced as the industry scale expanded. Last year, there were 4,104 recognized high-tech enterprises included in the Hunan Provincial Science and Technology Department annual statistics, an increase of 1,276. They realized an added value of more than 50 billion CNY, an increase of 14.1%. There were 3,858 enterprises with an output value of over 100 million CNY, an increase of 133 over 2017. The total value added, sales income, and profits and taxes accounted for 93.4%, 92.7%, and 93.5% of the provincial total, respectively. They played important supporting roles to the high-tech industry development.

Hunan will continue to develop more high-tech enterprises in the future. By the end of 2018, Hunan has 49 national-level enterprise technological centers. Further policy optimization is ongoing for high-tech enterprise development.