Wuhan - Economy

Economy

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:

    It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.
    Henry David Thoreau (1817–1862)

    War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?”
    Doris Lessing (b. 1919)

    Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.
    Jane Jacobs (b. 1916)