Changsha

Quick Facts

• Population: 7.43 Million (2016)

• GDP: £92.5 Billion (2016); 9.4% growth year-on-year

• 10% average economic growth rate over past 21 years

• Advantageous central position on China’s high-speed rail network

(e.g. 3 hours to Shenzhen/Guangzhou, 5 hours to Beijing, 1.5 hours to Wuhan)

• Sky City (bottom right) will become the tallest skyscraper in the world

• Hunan TV is China’s leading broadcaster by audience ratings

Key Industries

• Machinery
• Automobile and components
• Chinese traditional medicine
• Pharmaceuticals
• Food and cigarettes
• Chemical engineering
• New Materials

Key Businesses

• Sany Group
• Zoomlion
• Broad Group

Why Changsha?

“We have enjoyed Changsha’s advantages of labour and logistics costs, and government support.” – Mr. Ha JoungWon, GM of LG Philips Shuguang, Changsha

Changsha is an important industrial city of inland China, and a key transport hub for the central region. Changsha is the capital city of Hunan Province, making it the political, economic, educational and cultural centre of the province. The city’s regional importance has been enhanced recently by the new-high speed rail connections to Wuhan and Guangzhou.

Hunan is traditionally known for its agricultural industry, especially rice and cotton. However in recent years the province, and particularly Changsha city, has become an important centre for many industries, including steel, automotive components and bio-medicine. Changsha is benefiting from the drive of many international and Chinese companies to move manufacturing to inland areas – away from coastal provinces which are experiencing saturated markets and increasing labour costs.

Changsha’s economy improved markedly during in the 11th Five-Year Plan period (2006-2010), when it experienced average annual growth of 15%. This had a rippling effect on Changsha society, for example total retail sales of consumer goods during the period experienced average annual growth of 19%. In the past five years, the economic development of Changsha has also been continually strong.

Changsha is well known as the place where former communist leader (1945-1976) Mao Zedong rose to political significance. The city itself was virtually destroyed by a fire during WW2 while fighting the Japanese, but has been successfully rebuilt since 1949.

The Sky City will be the tallest building in the world if completed as planned in 2014. The proposal is to assemble the Sky City from prefabricated sections and complete the process in only 90 days (although this schedule has received broad skepticism).

Economic Highlights

• Changsha GDP exceeded eight hundred billion mark.
• Service industry drives economic development.
• National new districts play obvious roles in economy.
• The total output value of high-tech industry spans eight hundred billion.

Useful Online Resources

Changsha News
http://www.jzhyzb.com/
The Official Website of Changsha
http://en.changsha.gov.cn/
Changsha Municipal Bureau of Commerce
http://www.cstrade.gov.cn/swt/swt/index.asp
China Council for The Promotion of International Trade, Hu’nan Sub-council
http://www.hnccpit.org/en/