The services industry in Wuhan, capital city of Central China’s Hubei province, reported year-on-year growth of nine percent in its added value in the first three quarters of 2019, according to chinanews.com.
Local officials said that it was expected that by the end of the 13th Five-Year Plan (2016-2020), the added value of the services industry in Wuhan will exceed 1 trillion yuan ($144 billion).
Since the beginning of the 13th Five-Year Plan, the average annual growth rate of the services industry in Wuhan has been 9.7 percent.
The added value reached 810.8 billion yuan in 2018, accounting for 54.6 percent of the city's regional GDP.
Producer services were one of the growth engines for the services industry in 2019.
To promote the development of services industry in the city, Wuhan has highlighted 33 headquarters enterprises including FiberHome Telecommunication Technologies Co and Yangtze Optical Fibre and Cable Joint Stock Limited Company, as well as 23 leading services industry enterprises and 31 service industry cluster areas in 2019.
