ABSTRACT
The direct economic loss was as high as RMB50 billion, and about 4.78 million flood victims needed relief and resettlement. In the face of the serious difficulties produced by such a severe situation, the entire province showed unparalleled spirit in fighting against the flood, and protected the infrastructure and economic development. Yet, even in a year of disaster, the Hubei economy managed to maintain a good development trend. The government’s increased investment in infrastructure projects and fixed asset investment had a direct influence and remarkable promotional effect on Hubei’s economy. In 1998, Hubei was affected by enormous flood damage, and Hubei needs large-scale investment in manpower and resources to fight against floods annually. The burden and damages for Hubei province are heavy and enormous. The new growth points for Hubei in the next century will be in four areas: housing and construction, tourism, information technology, and culture and sports.
