| Hubei Business Information | ||
|---|---|---|
| Population | 57,237,740 | |
| GDP (USD) | 225 B | |
| USD:RMB Exchange Rate | 1:6.5 | |
| Average Mfg Employee Wage (per month) | 2,499 RMB | |
| Average Industrial Facility Cost (per month) | 18.5 RMB/m2 | |
| Access to Logistics | Good | |
Hubei Manufacturing & Investment Information
Hubei has become one of Central China’s major manufacturing centers, known for electronics, heavy industries, and logistics. The opening of the Yangtze Economic Belt and the Three Gorges Dam project has contributed to its rapid growth in Hubei’s economy in the past few years. The capital city, Wuhan, is a logistics hub and center for the fiber optics and laser industries, earning the nickname “Fiber Optics Valley” of China. Nearly 70 Fortune 500 companies, including Intel, Siemens, and HSBC, have invested there. Hubei’s many rivers and lakes, which connect to the Yangtze River and other major waterways, as well as China’s excellent rail transport system, allow for easy shipment to other regions.
| Major Cities in Hubei | Hubei’s Main Industries | ||
|---|---|---|---|
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Hubei & Foreign Investment
In 2008, Hubei utilized USD 3.2 billion in FDI and generated a GDP over USD 165 billion. In 2009, the FDI grew to USD 3.57 billion and the GDP went up 27.4 percent to USD 225 billion. There are 108 development zones and other economically incentivized areas, and a skilled workforce that is fed by 52 universities.
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