Electronic information emerges as Hubei's largest industry

According to the Hubei Provincial Government Information Office on Sept 19, the optoelectronic information industry in Central China's Hubei province has achieved breakthrough development, emerging as the largest industry in the province.

In 2022 and 2023, the revenue of the electronic information industry in Hubei, led by optoelectronic information, reached 765.5 billion yuan ($108.49 billion) and 820.9 billion yuan, respectively. From January to August this year, the revenue of the electronic information industry reached 597 billion yuan, a year-on-year increase of 13.53 percent. It is expected to reach 1 trillion yuan level by the end of the year.

Electronic information emerges as Hubei's largest industry. [Photo/WeChat account of Optics Valley of China]

In recent years, Hubei has been vigorously promoting innovation and breakthroughs in the optoelectronic information industry, securing the titles of the "Four Largest" – the world's largest optical fiber cable production base, the largest domestic optoelectronic device production base, the largest domestic R&D and production base for medium and small-sized display panels, and the largest domestic advanced storage production base.

Last year, the province accounted for approximately 50 percent of the domestic market and 25 percent of the global market in the production of optical fiber cables, around 12 percent of the global market in the production of optoelectronic devices, and over 70 percent of the domestic market in laser equipment varieties.

In addition, the Wuhan optoelectronic information industry cluster has been selected as a national-level advanced manufacturing cluster. The province boasts 11 optoelectronic information enterprises with over 10 billion yuan in revenue and 19 national champion enterprises in manufacturing.

By 2027, the scale of the province's electronic information industry is expected to exceed 1.2 trillion yuan, making Hubei a world-class optoelectronic information industry cluster.