The economy of the People’s Republic of China is a rapidly developing and influential market economy. China is the one of the worlds largest economies. China has had the fastest-growing major economy for the past 30 years with an average annual GDP growth rate above 10%. China’s per capita income has likewise grown at an average annual rate of more than 8% over the last three decades drastically reducing poverty.
Wuhan is the capital of Hubei province, People’s Republic of China, and is the most populous city in central China. Wuhan is an important center for economy, trade, finance, transportation, information technology, and education in Central China. Its major industries includes optic-electronic, automobile manufacturing, steel manufacturing, new pharmaceutical sector, biology engineering, new materials industry and environmental protection. Wuhan has over one third of French investment in China, the most among Chinese cities.
Wuhan has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living rank for each of the 13 Basket Groups is now available.