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Hebei: Market Profile

Major Economic Indicators

Economic Indicators2015Jan-Nov 2016
ValueGrowth
(%, y-o-y)
ValueGrowth
(%, y-o-y)
Gross Domestic Product (RMB bn)2,980.66.812,249.636.81
Per Capita GDP (RMB)40,2556.11
Added Value Output
   Primary industry  (RMB bn)343.92.61236.933.51
   Secondary industry (RMB bn)1,438.74.711,075.635.71
   Tertiary industry (RMB bn)1,197.911.21937.139.01
Value-added Industrial Output2 (RMB bn)4.415.21
Fixed-assets Investment (RMB bn)2,890.610.62,942.59.0
Retail Sales (RMB bn)1,293.59.4986.9310.1
Inflation (Consumer Price Index, %)0.91.5
Exports (US$ bn)32.9-7.828.1-6.8
   By foreign-invested enterprises (US$ bn)7.7-14.05.6-21.3
Imports (US$ bn)18.5-23.314.4-15.0
   By foreign-invested enterprises (US$ bn)6.3-16.14.6-20.1
Utilised Foreign Direct Investment (US$ bn)6.2-3.16.643.5

Notes:
1
In real term
2
For all state-owned and other forms of enterprises with annual sales over RMB20 million
3
Jan-Sep 2016

Sources: Hebei Economic Yearbook 2016, Hebei Statistical Bureau, China’s Customs Statistics, 12.2015, 11.2016

 

General Background

Hebei has a total area of 187,693 sq kilometres. Total population stood at 74.25 million in 2015. 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).

Industries

Hebei is a major agricultural base in China. In 2015, value-added of the primary sector ranked the 4th 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 gross industrial output, the share of heavy industry increased from 69.4% in 2000 to 76% in 2015.

Metallurgy industry (including smelting and pressing of ferrous metals) recorded the most rapid growth in recent years. In 2015, the industry of smelting and pressing of ferrous metals was the most important in terms of gross industrial output.

 

Composition of GDP (%)

 20002015
Primary16.311.5
Secondary49.948.3
    Industry43.742.4
Tertiary33.840.2

Source: Hebei Economic Yearbook 2016

 

Output Share of Leading Industry Groups (2015)

 % share of gross industrial output#
Manufacturing and processing of ferrous metals22.3
Production and supply of electric power & heat6.1
Manufacture of metal products6.0
Chemical raw materials and chemical products5.9
Processing of food from agricultural products4.8
Manufacturing of automotive4.8
Manufacture of electrical machinery & equipment4.5
Manufacturing of nonmetallic mineral products4.3
Mining of Ferrous metal ores3.9
Processing of petroleum, coking3.8

Notes: # For all state-owned enterprises and other forms with annual sales over RMB20 million
Source: Hebei Economic Yearbook 2016

 

Tourism

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 2015, Hebei received 1.38 million overseas tourists (+4%), of which 298 thousand (+11.4%) came from Hong Kong, Macao and Taiwan. The overseas tourists brought foreign exchange revenue of US$621 million (+16.3%). Domestic tourists grew by 18% to 371 million in 2015.

Foreign Trade

Major export markets were the US, Russia, South Korea, Japan, Vietnam and India. Major exports included cotton, yarn and fabrics, iron and steel, electrical & mechanical products. Exports to Hong Kong reached US$766 million (+11.8%) in 2015.

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 2015, the bulk of FDI flows into manufacturing, which accounted for 62.2% of the total utilized FDI. Among all industries of the services sector, real estate took up 10% of the actual investment in 2015 while transportation and storage took up about 9.5%.

 

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

 

Hong Kong is the largest source of foreign investment in Hebei. In 2014, actual investment by Hong Kong enterprises amounted to US$3,403 million, accounting for 55% of the total. Other major sources of investment were Japan and Germany.

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 RMB26,152 (+8.3%) in 2014. Major retail centers are located in Shijiazhuang, Tangshan and Baoding.

 

Composition of Per Capita Expenditure of Urban Household (%)

 20002015
Food34.926.0
Clothing12.38.8
Household articles10.26.7
Medicine & medical services8.78.5
Transportation & communications7.813.6
Recreation, cultural & education12.210.6
Residence9.623.4

Source: Hebei Economic Yearbook 2001, 2016.

 

Hebei acts as the distribution centre for the northeastern, northwestern and northern regions of China. Major department stores and shopping centers 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 (2015)

CitiesGDP
(RMB bn)
Population
(mn)
Value-added Industrial
Output*
(RMB bn)
Retail Sales
(RMB bn)
Shijiazhuang (石家莊) 544.010.61211.7269.3
Qinhuangdao (秦皇島) 125.03.0633.263.4
Tangshan (唐山) 610.37.77273.9214.8
Baoding (保定) 330.011.49106.2165.3
Cangzhou (滄州) 332.17.38125.7110.9
Handan (邯鄲) 314.59.37110.7136.4

* For all state-owned and other forms of enterprises with annual sales over RMB20 million
Source: Hebei Economic Yearbook, 2016


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