Hubei Province's business economy performed better than expected in 2021, registering the growth rate higher than the national average, local authorities said on January 11.

In 2021, Hubei's retail sales were projected to exceed 2 trillion yuan. In the first 11 months of last year, the province's retail sales surged by 20.1 percent year on year, and online retail sales of physical goods topped the central China in the first three quarters. Wholesale, retail and catering were expected to surpass the levels in 2019.

Hubei saw robust growth momentum in foreign trade last year. Its total imports and exports expanded 26 percent year on year to 486.15 billion yuan in the first 11 months of 2021. The amount of newly-signed foreign contract projects ranked first in China.

The province maintained a favored investment destination. In 2021, Hubei’s foreign investment reclaimed the first place in central China, and foreign direct investment (FDI) retained the top spot in central China for 8 consecutive months, soaring by 48.8 percent. （en.hubei.gov.cn by Zhang Yawei）