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Henan: Market Profile

Major Economic Indicators

Economic Indicators20172018
(%, y-o-y)
(%, y-o-y)
Gross Domestic Product (RMB bn)4,498.87.814,805.67.61
Per Capita GDP47,1307.41
Added Value Output
  Primary industry  (RMB bn)433.94.31428.9
  Secondary industry (RMB bn)2,145.07.312,203.57.21
  Tertiary industry (RMB bn)1,919.99.212,173.29.21
Value-added Industrial Output2 (RMB bn)8.017.21
Fixed-assets Investment (RMB bn)4,389.010.48.1
Retail Sales (RMB bn)1,966.710.22,059.510.3
Inflation (Consumer Price Index, %)1.42.3
Exports (US$ bn)47.09.953.814.4
  By foreign-invested enterprises (US$ bn)31.15.634.19.8
Imports (US$ bn)30.67.729.1-5.1
  By foreign-invested enterprises (US$ bn)22.3
Utilised Foreign Direct Investment (US$ bn)17.21.4

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

Sources: Henan Statistical Yearbook 2018, Henan Statistical Bureau, China’s Customs

General Background

Henan has a total area of 166,000 sq km. Total population stood at 108.53 million at the end of 2017. Zhengzhou, the capital city of Henan province, is an important railway hub of China.

Henan is rich in mineral resources. Its reserves of molybdenum, marble trona, asbestos, aluminum, natural gas, cesium, bauxite, coal, perlite and refractory clay are among the largest in China. Zhongyuan Oilfield (中原油田) is one of the major oilfields and Pingdingshan Coal Mine is a major coal mine in China. Henan is also a major production base of aluminum oxide.


Henan is one of the country's main commercial crops production areas. Major agricultural products include cotton, peanuts, mushrooms, tobacco and fruits. Henan has developed into an important food processing base in China, producing meat, frozen food, instant noodles, biscuits and seasonings, etc.

Henan’s industry is dominated by heavy industry, which accounted for 66% of the total revenue from principal business of the industrial sector in 2017. The tertiary sector has been developing rapidly in Henan with its share in GDP increased gradually since 2008.


Composition of GDP (%)


Source: Henan Statistical Yearbook 2018

Major Industry Groups (2017)

% share of total revenue from principal business
Manufacture of Non-metallic Mineral Products
Processing of Food from Agricultural Products
Smelting and Pressing of Non-ferrous Metals
Manufacture of Raw Chemical Material and Chemical Products
Manufacture of Computer, Communication and Other Electronic Equipment
Manufacture of Special Purpose Machinery
Manufacture of Electrical Machinery and Apparatus
Manufacture of General Purpose Machinery
Manufacture of Foods
Smelting and Pressing of Ferrous Metals
Manufacture of Automobile

Source: Henan Statistical Yearbook 2018


Electronics and communication equipment is an area of fast growth. In 2017, the value-added of high-tech industry grew by 16.8%, accounting for 8.2% of the total value-added of industries. In 2017, exports of high-tech products grew by 10.2% to US$30.5 billion, accounting for 65% of total exports. Foxconn from Taiwan has established its assembly plant of mobile phones in Zhengzhou of Henan since 2010, stimulating the growth of related industries.


As the birthplace of the Han people, Henan has many cultural heritages and scenic spots. There are three capital cities of ancient China in the province: Luoyang, Kaifeng and Anyang, all of which have many sites of great historical value, e.g. the Longmen Grottoes is one of the World Heritage Sites.

In 2017, Henan received 662 million (+14.1%) domestic tourists with tourism receipts of RMB668.5 billion (+17.2%) while overseas tourists grew by 4.5% to 3.07 million with tourism receipts of US$982 million (+9.6%).

Foreign Trade

Exports of machinery, electric equipment & accessories accounted for about 74.0% of Henan’s total exports in 2017. High-tech products are one of the leading export items, accounting for 65% of total exports.

With more relocation of manufacturing activities from the coastal region in recent years, processing trade accounted for 65% of total exports in 2017, up from 19% in 2010. Foreign-invested enterprises accounted for 66.0% of exports in 2017, up from 24.3% in 2010.

The US was the leading export market in 2017 followed by Japan. In 2017, exports to Hong Kong reached US$2.6 billion, accounting for 5.6% of the total exports.

Major import sources are South Korea, Taiwan, Japan and Australia.

Foreign Investment

Inflows of FDI have recorded marked growth in recent years. In 2017, investment from other provinces in China grew by 7.9% to RMB910.7 billion.


Chart: Utilised FDI of Henan
Chart: Utilised FDI of Henan

Foreign direct investments mainly engaged in manufacturing (60.1% of total investment in 2017) and production and supply of electricity, gas and water (13.4%). Industries of high efficiency and low consumption of energy are encouraged, and more FDI are expected to flow into services sectors.

Hong Kong is the largest source of foreign direct investment in Henan. In 2017, actual investment from Hong Kong amounted to US$10.21 billion, accounting for 59.3% of the total. Other major sources of investment included Taiwan, the UK and the US.

Consumer Market

Major consumer markets are located in Zhengzhou, Nanyang and Luoyang. In 2017, annual per capita disposal income of urban households reached RMB29,558 (+8.5%).

Zhengzhou is traditionally a major distribution centre in central China. It was approved by the state to be the pilot centre for distribution reforms. Major retail operators include Jinboda Commercial Mansion (金博大), Denis Department Store (丹尼斯百貨), Dashang Group New Mart Shopping Plaza (大商集團新瑪特購物廣場), Carrefour and Walmart.


Composition of Per Capita Expenditure of Urban Household (%)

Household articles8.28.1
Medicine & medical services7.38.3
Transportation & communications6.411.7
Recreation, cultural & education10.611.5

Source: Henan Statistical Yearbook 2018

Economic Indicators of Major Cities (2017)

(RMB bn)
Per Capita GDP
Retail Sales
(RMB bn)

Industrial Enterprises* Revenue from Principal Business
(RMB bn)
Zhengzhou 鄭州 919.493,792405.71,473.9
Luoyang 洛陽 429.062,982202.5770.1
Nanyang 南陽 334.533,255195.1336.1
Xuchang 許昌 263.359,91189.1656.2
Xinxiang 新鄉 235.840,96296.6400.0
Jiaozuo 焦作 228.064,17378.4631.7
Kaifeng 開封 188.841,50394.5290.9

Note: * For all state-owned enterprises and other forms with annual sales over RMB20 million
Source: Henan Statistical Yearbook 2018


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