North China’s Hebei Province targets an economic expansion of 6.5 percent for 2021, the provincial government work report said Friday.
The province recorded gross domestic product (GDP) growth of 3.9 percent last year, according to the report delivered at the annual session of the provincial legislature that opened on Friday.
The GDP of the province last year stood at 3.62 trillion yuan (about 557 billion U.S. dollars), up from 2.6 trillion yuan in 2015, it said.
Over the past five years, Hebei’s foreign trade increased to 441.04 billion yuan from 319.24 billion yuan, while its foreign direct investment (FDI) surged to 11.03 billion U.S. dollars in actual use from 7.37 billion U.S. dollars, it said.
A free trade zone was established in the province in August 2019, which has contributed to the surges.
In 2020 alone, the province saw a 7.3-percent increase in FDI, according to the report.