Economy
The GDP per capita was ¥41,543 (ca. US$6,082) in 2009.
Before the Chinese civil war Hefei was a town whose main industry was agriculture. Soon after the founding of the People's Republic of China, the capital of Anhui was moved from Anqing to Hefei. To assist the development of the city, many talented people were sent in from other parts of the country. Modern-day Hefei has machinery, electronics, chemistry, steel, textile, and cigarette industries, among others.
Despite being the Provincial Capital of Anhui, Hefei still exudes an air of poverty. Migrants from all over Anhui converge on the city looking for opportunities which do not actually exist for many of them. This constant influx keeps wages low. However, new industrial development in special economic zones ringing the city has resulted in new manufacturing jobs for technical school and college graduates.
In the summer of 2005, the municipal government implemented changes designed to beautify the city by demolishing thousands of illegally built structures, and clearing away long established marketplaces in many parts of the city. Overnight, longstanding businesses housed in flimsy structures that once lined many streets were gone. The impact on the local economy could be seen immediately as hundreds, if not thousands, of low paid workers no longer had employment.
On the other hand, these actions removed many unlicensed food stalls which had contributed to the spread of diseases that struck the city in the past. These changes also removed many unlicensed buildings that posed a fire hazard in the city. While it is undeniable that some people were forced to make sacrifices for the beautification of the city, the changes ensured that most of the residents in the city have a better environment.
Hefei has been identified by the Economist Intelligence Unit in the November 2010 Access China White Paper as a member of the CHAMPS (Chongqing, Hefei, Anshan, Maanshan, Pingdingshan and Shenyang), an economic profile of the top 20 emerging cities in China.
Read more about this topic: Hefei
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)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)