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June 19, 2012

Changsha Economy and Rents

This is background about the economy of Changsha where the worlds tallest building will be built.

KPMG Changsha Investment Environment Study 2011 (16 pages)

In 2010, Changsha’s GDP was RMB 454.7 billion with an annual growth rate of 21.4% — much higher than the national average of 18.7%
–– Changsha’s GDP ranked second among central cities in 2010
–– Industrial structure is improving. The ratio of agriculture, manufacturing and services was 4:54:42 in 2010 from 7:44:49 in 2006. This indicates a more rapid growth in industrial output (26% compound annual growth rate from 2006 – 2010)
• In 2010, Changsha’s GDP per capita was USD 10,000 — 2.2 times the national average, and first among the six central capitals






CETZ and Dahexi

Changsha National Economic and Technology Development Zone (CETZ)
• CETZ was established in 1992, and was named a National Economic and Technology Development Zone by the State council in 2000
• It ranked 6th among “China’s Most Investment Potential Zones” and was the only five-star development zone among the other six inland provinces. It was named a “Model of Machinery Base of National New-pattern Industrialization” which was approved by the Ministry of Industry and Information Technology
• In 2010, CETZ reached a total industrial output of RMB 91.5 billion and has maintained a 30% growth rate
–– construction machinery, automobiles and parts were the two leading industries, contributing more than 80% to total outputs
–– construction machinery made up 71% of this with a total industrial output of RMB 64.6 billion

• Located in the western end of the Xiang River, Dahexi Zone was established in 2008 and covers Yuelu, CHTIDZ, Wangcheng and Ningxiang with a total land of 1,200 square metres. It is comprised of a three phased processing area aimed to facilitate the setting up process for enterprises
• Industry development relies on CHTIDZ as the main body, which NXETZ and Wangcheng EDA are subsidies primarily made up of the high-tech industry, cultural and creative industries, as well as modern services and modern agriculture. They also serve as a base for setting up and processing of new raw materials, energy conservation and environment protection and advanced manufacturing
• In the past three years, Dahexi Zone has maintained rapid development and direct investment
–– Dahexi Zone had a total GDP of RMB 300 billion with a year-on-year growth rate of 18%, and a total industrial output of RMB 400 billion, or 41 percent of the total industry output of Changsha. The proportion of agriculture, manufacturing and services changed to 8:63:29 in 2010 from 16:48:36 in 2008 respectively
–– Total investment into the area was over RMB 120 billion. Emerging industries accounted for 67% of the total investment and 50% (1,000 projects) of the total number of projects
• According to the “12th Five-Year Plan”, Dahexi Zone is expected to form a major
industry focus on high-tech and modern services, with an anticipated output of
over 60 percent of the service industry

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