Wuhan is a sub-provincial city. Its GDP was 450 billion CNY and GDP per capita was approximately 64,000 CNY as of 2009. In 2008, the city's annual average disposable income was 16,360 CNY. Wuhan has currently attracted about 50 French companies, representing over one third of French investment in China, and the highest level of French investment in any Chinese city.
Wuhan is an important center for economy, trade, finance, transportation, information technology, and education in China. Its major industries includes optic-electronic, automobile manufacturing, steel manufacturing, new pharmaceutical sector, biology engineering, new materials industry and environmental protection. Wuhan Iron & Steel (Group) Co. and Dongfeng-Citroen Automobile Co., Ltd headquartered in the city.
Wuhan is one of the cities with the most competitive force for domestic trade in China. Wuhan, close next to Shanghai, Beijing, and Guangzhou in its volume of retail, is among the top list of China's metropolises. Wuhan Department Store, Zhongshang Company, Hanyang Department Store, and Central Department Store enjoy highest reputation and are Wuhan's four major commercial enterprises and listed companies. Hanzhengjie Small Commodities Market has been prosperous for hundreds of years and enjoys a worldwide reputation.
There are 35 higher educational institutions including the well-known Wuhan University, Huazhong University of Science & Technology, 3 state-level development zones and many enterprise incubators. Wuhan ranks third in China in overall strength of science and technology.
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get a good job, but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (18171862)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (18971977)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (18721933)