Changsha and Economic Trends
Changsha City is the capital and largest city of Hunan province. It is the province's political, economic, scientific, educational, cultural, and business centre. With a history of 3,500 years, it is situated on the western margin of the Chang-Liu Basin adjacent to the Xiangjiang River. With an area of 11,819 km2 and a population of more than eight million, the city has jurisdiction over six districts, one county, and two county-level cities.
In addition to being an important city within the Yangtze River Economic Belt and the Belt and Road Initiative, Changsha is also a pioneering area of China-Africa economic and trade cooperation. As the "Construction Machinery Capital of the World", the city has an industrial chain based on construction machinery and new materials. It is also a hub for automobiles, information technology, household appliances, and biomedical research.
In 2021, Changsha ’GDP reached 1.3 trillion RMB with an increase of 7.5% compared to the previous year. In 2021, the per capita disposable income of urban residents in Changsha came to 55,587 RMB, an increase of 7.9% compare to the previous year.
Changsha’s total import and export volume reached 278 billion RMB in 2021, with an increase of 18.2% from the previous year. Among them, the exports amounted to 198 billion yuan, up 27.7%. and the total value of imports of 80 billion RMB.
In 2021, Changsha's top three trading partners were ASEAN, the United States, and the European Union, with trade values of 97.7 billion yuan, 81.59 billion yuan, and 61.84 billion yuan, respectively. Furthermore, Changsha's trade with other members of RCEP and countries along the Belt and Road had continued to grow steadily.
Main Sectors in Changsha:
Automotive
Steel industry
Industrial machinery
Raw materials
Main Industrial Areas in Changsha:
Changsha Economic and Technological Development Zone
Changsha High-tech Industrial Development Zone
Changsha Huanghua Comprehensive Bonded Zone