4 Nov 2016
Wuhan (Hubei) City Information
|Major Economic Indicators (2015)|
|Land Area (km2)||8,494|
|GDP (RMB billion)||1,090.6|
|GDP Per Capita (RMB)||104,132|
|Retail Sales of Consumer Goods (RMB billion)||510.2|
|Utilised FDI (USD million)||5,991|
|Exports (USD million)||15,153|
|Imports (USD million)||12,919|
Source: Hubei Statistical Yearbook 2016
As the capital of the Hubei province, Wuhan is one of the most important cities in central China Yangtze Economic Belt. It ranked as the 12th most competitive city in China in 2016 according to the Chinese Academy of Social Sciences.
Wuhan is designated as a national hub in MOFCOM’s development plan (2015-2020) of distributive trade and logistics. It is one of the most important inland river ports in China, at the same time it enjoys well-established air, land and water transportation network. China's north-south and east-west traffic arteries (such as 4 trunk railway lines and 6 national expressways) meet in Wuhan. Furthermore, Wuhan Tianhe International Airport offers regular domestic and international flights to connect Wuhan with major cities in the world. The China-Europe direct freight train also link Wuhan with Mělník and Pardubice in Czech Republic.
Wuhan is China's traditional manufacturing base. Total industrial output amounted to Rmb 1,286 billion in 2015. Major industries include automobiles, machinery manufacturing, and iron and steel industry. Others include electronics, cigarette, food processing, energy, petrochemicals, home appliances, construction materials, biopharmaceuticals and textiles and garment.
Leading enterprise includes Wuhan Iron and Steel Group which is the third largest iron and steel producer in China after Baosteel and Angang Steel. Wuhan is also the headquarters of Dongfeng Motor Co which was a joint venture between Dongfeng Motor Corp and Japan's Nissan Motor Co.
Wuhan has a large service sector mainly due to its retail and wholesale distribution industry, and the tourism industry. Wuhan’s tourism earnings amounted to Rmb 219 billion in 2015. Major tourist attractions in Wuhan include Yellow Crane Tower, Baotong Zenist Temple, Guiyuan Zenist Temple and the Hubei Museum.
Major Industrial Parks / Development Zones
1. Wuhan East Lake High-tech Park (state-level)
Target industries: Photovoltaic products, environmental protection, software development, bioengineering and medicine, modern equipment manufacturing, new materials, new energy
Major investors: Yangtze Optical Fiber and Cable, ThyssenKrupp Zhong-Ren Tailored Blanks, Wuhan NEC Mobile Communication, EDS, Foxconn, IBM, Huagong Tech Company
2. Wuhan Economic and Technological Development Zone (state-level)
Target industries: Metallurgy, automobiles, machinery, high-tech industries, food processing, beverages, building material processing, bioengineering and medicine
Major investors: Coca-Cola, Changguang Battery, Essex-Tigers Chemical, Dongfeng Honda, Dongfeng PSA, Dongfeng Motor, Mcquay Air Conditioning (Wuhan), Wuhan BOC Gases, TPV Technology Group