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Huizhou (Guangdong) City Information

Major Economic Indicators

Economic Indicators20152016
ValueGrowth
(%, y-o-y)
ValueGrowth
(%, y-o-y)
Gross Domestic Product (RMB billion)314.009.01341.228.21
Per Capita GDP (RMB)
66,2314.071,6058.1
Added Value Output
- Primary Industry  (RMB billion)15.094.2117.294.21
- Secondary Industry (RMB billion)172.679.61183.65 8.11
- Tertiary Industry (RMB billion)126.258.61140.288.81
Value-added Industrial Output2 (RMB billion)10.01 8.71
Fixed-assets Investment (RMB billion)186.3916.0203.979.4
Retail Sales of Consumer Goods (RMB billion)107.0710.5122.7914.7
Inflation (Consumer Price Index, %)1.91.9
Exports (RMB billion)216.05-4.3197.25-8.7
Imports (RMB billion)121.57-15.2107.23-11.8
Utilised Foreign Direct Investment (US$ billion)1.10543.8
1.1433.4

Notes:
1 In renminbi real terms
2 For all state-owned and other forms of enterprises with annual sales over RMB20 million
Source: Huizhou Municipal Bureau of Statistics

 

General Background

Huizhou, a coastal metropolis known as both the Gateway to Eastern Guangdong and as the Preeminent City in the Lingnan Region, lies in the southeast of Guangdong. It extends across an area of 11,200 sq km and, as of the end of 2016, its permanent population stood at 4.775 million. The city’s port is one of the busiest on Guangdong’s eastern coast and, in 2016, it had a registered cargo throughput of 54.139 million tons.

Huizhou is numbered among China’s Top Ten Green Cities, while also having been designated as a Global Tourism Demonstration Zone and as one of the country’s Famous Historical and Cultural Cities. It is also home to the Zhongkai National High-tech Industrial Development Zone and the Daya Bay Economic and Technological Development Zone.

Industries

In terms of GDP contribution, Huizhou’s secondary industries account for the largest proportion, while its tertiary industries are showing signs of significant growth.

Composition of GDP (%)

 20102016
Primary Industry
5.9
5.1
Secondary Industry58.6
53.8
Tertiary Industry35.5
41.1

Source: Huizhou Municipal Bureau of Statistics

Huizhou’s two pillar industries are petrochemicals and electronic information, which together account for 52.1% of the output (in value terms) of all industrial enterprises above a designated size. As part of its13th Five-Year Plan (2016-2020), the city has committed itself to three economic priorities – establishing itself as a petrochemical industrial base, a national electronic information industrial base and an LED production base. In terms of pillar industries, it is planning to nurture the automotive, equipment manufacturing and clean energy sectors over the next five years. Over the same period, it is also looking to upgrade a number of its traditional industries, including small home appliances and footwear manufacturing, as well as both the marine and capture fishery sectors.

During the course of the city’s 12th Five-Year Plan (2011-2015), the value added by Huizhou’s marine industry grew at an average rate of more than 20% per annum. Looking to build on this, the 13th Five-year Plan sets out to prioritise the further development of the city’s blue economy, primarily through the scientific utilisation of local marine resources and by fostering the growth of the marine organism pharmaceutical industry.

Over recent years, Huizhou has accelerated its level of high-tech R&D activity, particularly with regard to internet-related innovations, cloud computing, intelligent robotics, 3D printing and work related to the BeiDou Navigation Satellite System, China’s own take on the GPS system. Within the Zhongkai High-tech Zone, two industrial clusters have also been established cloud computing and intelligent terminals. In terms of energy generation, a number of the city’s enterprises have looked to take a lead in solar photovoltaics, offshore wind power and nuclear power. This is in line with Huizhou’s commitment to establishing itself as one of Guangdong’s primary clean energy production centres and as a global supplier of high-energy green batteries.

In terms of the local services sector, the focus has been on developing the port and aviation logistics industries, with the ultimate aim of acting as a logistics hub for the whole of the Eastern Guangdong, Southern Jiangxi and Western Fujian areas. The 13th Five-year Plan also emphasises the importance of strengthening financial co-operation with Hong Kong and Shenzhen. It is anticipated that this will be achieved by undertaking outsourced work for the two neighbouring cities, particularly with regard to financial projects, logistics support and technology services.

In terms of tourism resources, Huizhou is looking to establish three major tourism clusters – the Renping Peninsula Tourism Economic Zone, Huizhou Municipal Tourist Centre and Mount Luofu-Mount Nankun Tourism Economic Co-operation Zone. The city is also committed to developing a range of competitive tourism services, including coastal, hot spring health and rural tours.

Foreign Trade and Investment

In 2016, 59.7% of Huizhou’s utilised FDI was sourced from Hong Kong, with 81.5% of this investment allocated to the manufacturing sector. Over the same period, high-tech products accounted for the largest share (58.6%) of Huizhou’s total exports in value terms. Overall, the city’s primary export markets were Hong Kong (32.4%), Korea (26.5%) and the US (15.9%).

In terms of future prospects, Huizhou is set to play an active role in the Belt and Road Initiative (BRI). In particular, it is looking to accelerate the resource consolidation and overall development of its port facilities, establish port alliances with a number of countries along the BRI routes, most notably Malaysia, while expediting the construction of a port logistics park and promoting the city’s international multimodal transport links.

 

 

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