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.
Read more about this topic: Wuhan
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)