Wuhan, capital city of Hubei
According to Department of Commerce of Hubei Province, Hubei’s actual use of foreign capital in the first three quarters of 2015 has arrived 6.86 billion U.S. dollars, a year-on-year increase of 14.4 percent. Six more overseas-based Fortune 500 companies start making investment in Hubei, bringing the total number to 165, the most in central China.
With the implementation of national strategies such as “One Belt, One Road” and Yangtze River Economic Belt, Hubei has witnessed a new round of development opportunities and has attracted more foreign attention. For example, the 9th Expo Central China held this May in Hubei brought 2,500 foreign investors to the capital city of Wuhan.
In the first three quarters, the contracted foreign capital in Wuhan, Huanggang, Jingzhou, Yichang, Xiaogan and E’zhou exceeded 100 million U.S. dollars, among which, the contracted foreign capital in Wuhan increased 74.5 percent compared with that in 2014.
The industrial structure of foreign investment has also seen changes. In 2015, most of foreign-based Fortune 500 companies (ex. Schneider Electric, Amazon & Wal-Mart) who have increased investment in Hubei took Hubei no longer simply as a processing base, but as sales market.
The service industry has attracted the most foreign capital with a yearly growth of 57.2 percent. The actual use of foreign capital in sectors of real estate, wholesale and retail, transportation have increased 80.1 percent, 58.9 percent and 2.6 times, respectively.
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