Economic Development in Wuhu

  Source:www.wuhu.gov.cn   Updated:2019-11-14 11:55   Hits:

In 2018, Wuhu’s GDP reached 327.85 billion yuan, an increase of 8.4% over the previous year. Fiscal revenue was 60.3 billion yuan, up 8%. Fixed asset investment increased by 9.7%. Total retail sales of consumer goods amounted to 102.8 billion yuan, up 12.2%. Imports and exports totaled 6.88 billion dollars, an increase of 3.6%.

Wuhu has four pillar industries: automobile and spare parts, materials, electronics and wires and cables. Founded in 1997, Chery Automobile has gradually established a complete technological and product research and development system. Chery Automobile has ranked first in China for 16 consecutive years in terms of the export volume of passenger vehicles, with 1.4 million vehicles exported among the total sales volume of over 7.5 million. Conch Group, founded in 1996, is one of the largest corporate groups producing building materials in China. Its total production capacity of cement reaches 350 million tons (ranking second in the world), and its annual production capacity of plastic profiles is 760,000 tons (ranking first in the world). Meanwhile, Conch Group has been listed among the top 500 Chinese Enterprises for 14 consecutive years. Besides, Wuhu Xinxing Ductile Iron Pipes Company ranks first in the world in terms of production capacity of centrifugal ductile cast iron pipes. In addition, a number of industrial leaders, such as Midea Group, have invested in Wuhu. Finally, Wuwei County, one of the four counties of Wuhu City, is one of the four major wire and cable production bases in China.

Wuhu has incubated three national strategic emerging industry bases, including robots, new energy vehicles and general aviation. For instance, the sales of Efort six-axis industrial robots ranks first in China; the intelligent drying system of Zoomlion and the production and sales volume of sugarcane harvester rank first; Chery owns the second largest share in the segment market of new energy vehicles across China; the prototype CA20 of CETC Wuhu Diamond Craft Manufacture has made a successful maiden flight; and CRRC Bombardier straddle monorail and APM vehicles have been delivered successfully.

Wuhu has also developed service industries such as modern logistics, finance, cultural creativity, tourism and service outsourcing. In terms of logistics, Wuhu has opened and operated designated ports for imported meet and grain. In addition, Anhui Provincial Port Operation Group was founded in 2019 and has settled in Wuhu. The cargo throughput of the port is over 100 million tons and the container capacity is over 800000 TEUs. In terms of finance, Wuhu has 30 banking and financial institutions of various types.  In terms of cultural creativity, Wuhu has a national development base of animation industry, an advertising industrial park and a digital publishing park. In terms of tourism, there are 33 attractions of Grade A and above and 11 of them are Grade 4A and above. In particular, Fanta Theme Park is credited as a national Grade 5A tourist destination and Wang Jiaxiang Memorial Park has been selected as one of the 100 classic tourist destinations marking revolutionary significance in China. Other things worth mentioning about Wuhu include a famous local food brand in Wuhu—Three Squirrels whose sales of nuts and snacks on the Internet ranks first in the country. In addition, Wuhu hosted the 5th China International Animation Creative Industry Fair in 2017. One year later, Wuhu held the 8th China (Wuhu) Popular Science Products Fair and the 5th China Auto Camping Assembly.

Wuhu is a wonderful place for foreign investment. About43 overseas top 500 enterprises have invested 51 projects in Wuhu.