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:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)