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The Profile of Changsha's Economy

Updated: 2014-07-11

Changsha has a good industrial and economic base, rather reasonable industrial structure, and is one of the areas with the most industrial and economic development potential in Central-South China. As for its agriculture, Changsha City has good agricultural ecologic environment, and was the first of “4-largest rice markets” in China in its history, and now is an important commodity food production and research base. As for its tertiary industry, for a long history, Changsha City has been an important business town in the south of Changjiang River. Changsha has deep trade tradition, first-class facility, prosperous market, and is the most important business city in Central-South China and one of the first excellent tourism cities in China.

Changsha’s economy is growing rapidly.

 ·The gross domestic product (GDP) of Changsha has grown at an

 average of 15.4 percent per year from 2003-2007, compared with the

 national average of 11 percent; GDP per capita in Changsha amounted

 to over USD 4,748 in 2007

·The economy comprises agriculture (6.3 percent), construction and

 manufacturing (45.0 percent) and services (48.7 percent). (see Figure 1)

·According to Changsha’s Social and Economic Development Plan

 (2006-2010), GDP is expected to grow at an annual rate of 13

 percent through 2010 ·Changsha is well known as its industries of

 radio and TV media, agriculture, cartoon and software

Changsha has a large consumer market and further expansion is expected.

·Changsha residents have seen increasing income levels; urban

 residents had an average per capita disposable income of over USD

 2,275 in 2007, 17 percent higher than the national average

·According to Changsha’s Social and Economic Development Plan

 (2006-2010), the average per capita disposable income will increase

 at an annual rate of 9 percent through 2010

·Retail sales reached USD 14.6 billion in 2007, representing a CAGR of

 23 percent over the 2003-2007 period