Investing in Hubei
Located in South-Central China. The Province of Hubei is known as the important center of Chinese heavy industry for automotive, steel, petrochemical sectors and a part of the Yangtze Economic Belt. Wuhan is the capital of the Hubei province and serves as a home to important technological research centers. The Province of Hubei covers a total surface area of 185,000 km2 with a population of 59.2 million inhabitants.
Hubei province accomplished 11,761 foreign investment companies with total exports of USD 36 billion and total imports of USD 21.2 billion. In addition to an average urban salary of USD 11,150.
In terms of GDP, the Province of Hubei ranked eighth in China after Fujian province, reaching USD 669 billion in 2020 and USD 658 billion in 2019 with a GDP per capita of USD 11,107. Along with GDP growth of +7.5% in 2019 and -5.0% in 2020.
Main Economic Centers (GDP) in Hubei
• Wuhan (USD 233 billion)
• Xiangyang (USD 69 billion)
• Yichang (USD 64 billion)
• Jingzhou (USD 36 billion)
• Huanggang (USD 33 billion)
Main Sectors in Hubei
• Agricultural products
Main Industrial Areas in Hubei
• Hubei Pilot Free Trade Zone
• Wuhan Economic and Technological Development Zone
• Wuhan Airport Economic and Technological Development Zone
• Huangshi Economic and Technological Development Zone
• Shiyan Economic and Technological Development Zone
• Xiangyang Economic and Technological Development Zone
• Jingzhou Economic and Technological Development Zone
• Wuhan Donghu New Technology Development Zone
• Jingmen High-tech Industrial Development Zone
• Xiaogan High-tech Industrial Development Zone
• Huanggang High-tech Industrial Development Zone
• Wuhan Donghu Comprehensive Bonded Zone
• Wuhan Xingang Airport Comprehensive Bonded Zone
• Hubei Wuhan Export Processing Zone
(Hubei) Pilot Free Trade Zone
Established in 2017 and the key area for the Yangtze River Economic Belt.
With a purpose to represent the key role in the positive evolution of the central China region and the ongoing development of the Yangtze River Economic Belt, through the development of a high-level trade park with high-end industries.
The target industries are information technology, life sciences, health and smart manufacturing, international commerce, financial services, modern logistics. Besides, the functional areas include the Wuhan area (70.0 sq. km), Xiangyang area (22.0 sq. km), and Yichang area (28.0 sq. km).