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Hebei: Market Profile

Major Economic Indicators

Economic Indicators20172018
(%, y-o-y)
(%, y-o-y)
Gross Domestic Product (RMB bn)3,401.66.613,601.06.61
Per Capita GDP (RMB)45,3875.9147,7726.01
Added Value Output
   Primary industry  (RMB bn)313.03.91333.83.01
   Secondary industry (RMB bn)1,584.63.011,604.04.31
   Tertiary industry (RMB bn)1,504.011.311,663.29.81
Value-added Industrial Output2 (RMB bn)3.415.21
Fixed-assets Investment (RMB bn)3,340.75.25.7
Retail Sales (RMB bn)1,590.810.79.0
Inflation (Consumer Price Index, %)1.72.4
Exports (US$ bn)31.42.634.08.4
   By foreign-invested enterprises (US$ bn)5.7-6.65.6-0.5
Imports (US$ bn)18.514.6
   By foreign-invested enterprises (US$ bn)4.9-4.04.3-12.4
Utilised Foreign Direct Investment (US$ bn)8.4915.49.087.0

1 In real term 2 For all state-owned and other forms of enterprises with annual sales over RMB20 million

Sources: Hebei Economic Yearbook 2018, Hebei Statistical Bureau, China’s Customs Statistics, 12.2017, 11.2018


General Background

Hebei has a total area of 187,693 sq km. Total population stood at 75.6 million in 2018. Hebei is included in the Jing-Jin-Ji (Beijing-Tianjin-Hebei) Economic Zone (京津冀經濟圈) and the Bohai Bay Economic Region (環渤海經濟圈).


Hebei is a major agricultural base in China. In 2017, value-added of the primary sector ranked the 7th in the country. This contributed a lot to the development of related processing industries, such as dairy product industry.

Hebei’s industry is dominated by heavy industry. In terms of revenue from major business, the share of heavy industry accounted for 74% in 2017.

Metallurgy industry (including smelting and pressing of ferrous metals) recorded the most rapid growth in recent years. In 2017, the industry of smelting and pressing of ferrous metals was the most important in terms of business revenue of among different industrial sectors.


Composition of GDP (%)


Source: Hebei Economic Yearbook 2018


Revenue Share of Leading Industry Groups (2017)

 % share of
sales output value#
Manufacturing and processing of ferrous metals24.9
Manufacture of metal products6.6
Manufacturing of automotive
Production and supply of electric power & heat
Chemical raw materials and chemical products
Processing of petroleum, coking
Manufacture of electrical machinery & equipment
Processing of food from agricultural products
Manufacturing of nonmetallic mineral products
Manufacturing of textile3.2

Notes: # For all state-owned enterprises and other forms with annual sales over RMB20 million
Source: Hebei Economic Yearbook 2018



Hebei is a popular tourist destination in northern China with many historical sites such as the Chengde Summer Resort (承德避暑山莊), the Shanhaiguan Pass of the Great Wall (山海關), the Beidaihe (北戴河) Summer Resort, the Eastern Tombs and Western Tombs of the Qing Dynasty.

In 2017, Hebei received 1.6 million overseas tourists (+8.5%), of which 368,044 (+20%) came from Hong Kong, Macao and Taiwan. The overseas tourists brought foreign exchange revenue of US$760 million (+13.6%). Domestic tourists grew by 22.6% to 570 million in 2017.

Foreign Trade

Major export markets were the US, Russia, South Korea, Japan and India. Major exports included cotton, yarn and fabrics, iron and steel, electrical & mechanical products. Exports to Hong Kong reached US$670 million (+10.3%) in 2017.

Imports mainly came from Australia, Brazil, US, Germany and South Korea. Imports of primary products like raw material and resources enjoyed a fast growth.

Foreign Investment

In 2017, the bulk of FDI flows into manufacturing, which accounted for 73.6% of the total utilized FDI. Real estates took up 11.1% of the actual investment in 2017.


Chart: Utilised FDI of Hebei
Chart: Utilised FDI of Hebei


Hong Kong is the largest source of foreign investment in Hebei. In 2017, actual investment by Hong Kong enterprises amounted to US$4.72 billion, accounting for 55.6% of the total. Other major sources of investment were Japan and the US.

Apart from Shijiazhuang, Tangshan, Qinhuangdao and Langfang which are traditionally popular destinations for foreign investment, Handan and Baoding have emerged to become attractive destinations for foreign investors in recent years.

Consumer Market

Annual per capita disposal income of urban households reached RMB32,997 (+8%) in 2018. Major retail centers are located in Shijiazhuang, Tangshan and Baoding.


Composition of Per Capita Expenditure of Urban Household (%)

Food, alcohol and tobacco34.924.5
Household articles10.27.2
Medicine and medical services8.78.4
Transportation and communications7.814.1
Recreation, cultural and education12.210.5

Source: Hebei Economic Yearbook 2001, 2018.


Hebei acts as the distribution centre for the northeastern, northwestern and northern regions of China. Major department stores and shopping centres in Hebei include Shijiazhuang Beiguo Commercial City (石家莊北國商城), Tangshan Department Store (唐山百貨大樓) and Shijiazhuang Dongfang City Plaza (石家莊東方城市廣場), etc. Many foreign supermarkets have invested in Hebei, such as Carrefour from France, Trust-Mart from Taiwan. Supermarket chain stores and related logistics and services are developing rapidly.


Economic Indicators of Major Cities (2017)

(RMB bn)
Per capita GDP
Revenue of Industrial Enterprises*
(RMB bn)
Retail Sales
(RMB bn)
Shijiazhuang (石家莊) 617.757,024897.3329.6
Qinhuangdao (秦皇島) 150.048,35692.077.5
Tangshan (唐山) 653.082,972947.9
Baoding (保定) 344.929,580390.0202.6
Cangzhou (滄州) 364.348,384508.7135.5
Handan (邯鄲) 337.935,567487.6167.4

* For all state-owned and other forms of enterprises with annual sales over RMB20 million
Source: Hebei Economic Yearbook 2018

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