Wuhan city： Overview
Wuhan, the capital of Hubei province,is the most populous city in central China. In 2015 it has a population of 10.60 million residing in three distinct districts (Hankou, Hanyang, and Wuchang), commonly known as “The Three Towns of Wuhan”. The city is recognized as the political, economic, financial, cultural, educational, and transportation centre of central China.
While Wuhan has for decades been a traditional base for manufacturing, it has also become one of the areas promoting modern industrial change. Wuhan consists of three national development zones, four scientific and technologic development parks, over 350 research institutes, 1,656 hi-tech enterprises, numerous enterprise incubators and investments from 230 Fortune Global 500 firms – enabling the city to offer globally competitive strengths in most business fields. By combining traditional industries such as automobile manufacturing, the starting point of China's economic liberalization, with new hi-tech industries in places like the Optics Valley, Wuhan is positioning itself as one of the most progressive business cities in all of Asia.
Business Environment
Wuhan possesses strong economic and regional advantages. It connects the east with the west, channels the north to the south, and links rivers with seas by means of its developed infrastructure in water, land and air traffic.
Important metropolises in China, including Beijing, Shanghai, Guangzhou, Chengdu, and Xi’an, are all within 1,200 km of Wuhan, home to the largest inland port in the country and the gateway to the Three Gorges Project – the development of a hydroelectric dam in the Yangtze River. Benefitting from its strategic position in central China, Wuhan naturally became a hub for the efficient distribution of products for many industries.
Major industries in Wuhan include modern manufacturing (automotive, steel and iron manufacturing) and high-tech industries (including opto-electronic technology, pharmaceutical, biology engineering, new material industry, and environmental protection). Wuhan’s Dongfeng Motor Corporation is the third largest automaker in China. It has joint ventures with firms such as Honda, Nissan and French carmaker PSA Peugeot-Citroen. In 2014, Dongfeng sold more than 3.53 million vehicles. In addition to a strong industrial base, Wuhan is also ranked third in China for its comprehensive scientific and educational strength.
Overall, Wuhan is enjoying substantial growth:
Wuhan’s GDP reached RMB1,090.56 billion in 2015, with a YoY increase of 8.8%. GDP per capita reached approximately RMB 104,132 (USD $16,528).
Wuhan’s GDP in 2015 ranked 1st in major cities in Central China and 8th among 100 major cities in China. It is a city with great potential.
Special industrial zones
1. Wuhan Optics Valley Area
With National Development Zone: Wuhan East Lake High-tech Development Zone
Key sectors: Electronic information, biotechnology, environment protection, and equipment manufacturing
2. The Automotive Industry Cluster
With National Development Zone: Wuhan Economic and Technological Development Zone
Key sectors: Automobile, innovative industry, and aviation
3. Wuhan Airport-neighboring Industry Cluster
With National Development Zone: Wuhan Airport-neighboring Economic and Development Zone, formerly known as Wuhan Wujiashan Economic and Development Zone.
Key sectors: Food processing industry, high tech mechanical and electric manufacturing, new energy vehicle, and service industry with high added value.
4. Wuhan New Port-neighboring Industry Cluster
Key sectors: Yangtze river transportation, bonded warehousing, processing and logistics service, petrochemical, and steel processing
