Hefei and Economic Trends
Hefei is the capital and largest city of Anhui province in central China, located north of the Yangzi River, which divides the province into two parts. The city's history dates back to the Western Han period when the city was an important agricultural trading center. With an area of 11,434 square kilometers and a population of more than 9.5 million, the city has jurisdiction over 9 county-level divisions, including 4 districts, 1 County-city, and 4 counties.
Hefei plays an important role in the Anhui's economic growth, being the area's political, economic, commercial, educational, scientific and technological, cultural, and information center. Its main industries are machinery, electronics, chemistry, steel, and textile. The city has established economic and trade relationships with more than 216 countries and regions. Over 3,000 enterprises from 64 countries and regions have invested in and started businesses here.
In 2021, the city's GDP reached 1.1 trillion yuan, an increase of 9.2% compared to the previous year, while the GDP per capita amounted to 73,100 RMB. The city's total import and export volume was 51 billion yuan in 2021, with the exports amounting to 31 billion RMB and the total value of imports to 20 billion RMB.
The Chinese City Tier System consists of a system of tiers used by analysts to classify Chinese cities and rank them in a hierarchy. Cities in different tiers reflect differences in consumer behaviour, income level, population size, consumer sophistication, infrastructure, talent pool, and business opportunity.