Why is Changsha developing so fast?

Economy

Changsha developed relatively slowly in the early stages of reform and opening up, and gradually fell behind coastal cities. After rapid development since the mid-1990s, the total GDP increased from 54.285 billion yuan in 1998 to 110.885 billion yuan in 2004, accounting for about one-fifth of the province; the per capita GDP based on registered population was 18,296 yuan; the gross agricultural production 17.207 billion yuan, the total industrial output value is 100.606 billion yuan, and the per capita disposable income is 11029.06 yuan, the highest among central and western cities. According to the calculation method adjusted after the first economic census, Changsha's GDP reached 151.99 billion yuan in 2005. The total retail sales of consumer goods was 74.343 billion yuan, surpassing Zhengzhou for the first time and ranking second in central China. The per capita disposable income of urban residents was 12,434 yuan, a year-on-year increase of 12.8%. The total fixed asset investment in the whole society was 88.144 billion yuan, a year-on-year increase of 31.93%.

Second Industry

Zoomlion Changsha, located in Lugu, Hexi, has two national-level development zones: Changsha Economic and Technological Development Zone (located in Xingsha) and Changsha High-tech Industry Development District (located in Lugu, Hexi). Changsha Economic and Technological Development Zone is located in Xingsha Town, Changsha County. Its investment environment comprehensive evaluation index ranks second among 16 national development zones in the central and western regions. Its GDP has increased at a rate of 33.2% in the past three years. By the end of 2005, among the 21 Fortune 500 companies stationed in Changsha, they included South Korea's LG, Coca-Cola, PepsiCo, COFCO, Electrolux, France's Danone, France's Total, the Netherlands' Philips, Japan's Mitsubishi, Germany's Bosch, Nissho Iwai, Japan's Mitsui & Co., Ltd., Echu Lotus, and 13 other companies have settled in Xingsha.

Changsha Cigarette Factory is one of the largest tobacco manufacturers in China. In 2004, it paid tax of 5,455.14 million yuan, ranking 13th among all taxpayers in the country[1]. Japanese Mitsubishi, German Bosch, Changfeng Cheetah, Beiqi Foton and other automobile companies have made Changsha a new automobile production base in southern China. Large investments from Electrolux, LG Philips Sugon, Hitachi Electric, Yuanda Group, etc. have also enabled Changsha's electronics manufacturing industry to begin to improve. At present, the proportion of Changsha's secondary industry is slightly lower than that of the tertiary industry, and its development speed exceeds that of the tertiary industry.

Tertiary Industry

Huangxing South Road Pedestrian Commercial Street Changsha is one of the cities with the highest per capita income among the cities in the central and western regions. High income drives consumption. The area from Huangxing South Road Pedestrian Commercial Street to Wuyi Square is the core commercial area of ??Changsha. The number and density of "Foot Washing City" (foot massage parlors) in Changsha is far ahead among large and medium-sized cities. Some people jokingly call Changsha the "Foot City". The catering industry is also full, with a large number of customers whether it is street food or hotel food. The four major international supermarket chains Carrefour, Wal-Mart, Metro and Pursmart have one or more branches in Changsha. Well-known domestic or provincial supermarket chains such as Xinyijia, BBK, Jiarunduo, etc. have also participated in the competition. Suning and Gome Supermarkets specializing in electrical appliances have many branches. Currently, both Shangri-La and Sheraton will open new hotels in Changsha. The media industry is also well-known throughout the country, represented by Hunan Satellite TV, Golden Eagle Festival and Sports Weekly.

Chinese domestic animation is developing rapidly in Changsha, which also makes the government determined to build an animation capital. Among the first batch of nine animation industry bases approved by the State Administration of Radio, Film and Television, Changsha has two. Changsha also has one of the four national digital media technology industrialization bases approved by the Ministry of Science and Technology (the other three are Beijing, Shanghai and Chengdu), and this base is the only national base featuring cartoon animation. In November 2005, the Changsha Cartoon Art Festival was held.

Economic Cooperation

Changsha is the core city of Hunan Province’s “one-point, one-line” construction and the core city of Changsha-Zhuzhou-Tan economic integration. The main urban area is not far enough from Zhuzhou and Xiangtan. 20 kilometers. Changsha is accelerating the creation of a "one-hour economic circle". At the same time, Changsha has also joined the Wuhan Economic Cooperation Zone to conduct economic cooperation with various central cities. Hunan has also joined Guangdong's "Pan-Pearl River Delta" and accepted Guangdong's economic radiation. See: Changzhutan Economic Integration, Wuhan Economic Cooperation Zone