Wednesday, May 12, 2010

China, Wuhan Cost of Living April 2010

Country Economy: 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.

Currency: Chinese Yuan Renminbi (CNY).

Country Inflation: 5.9% (2008 est.) -0.05% (2009 est.).

City: Wuhan is the capital of Hubei province, People's Republic of China, and is the most populous city in central China.

City Economy: 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.
Cost of Living: 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. Wuhan is currently ranked 250 overall, most expensive place in the world for expatriates to live, out of 282 international locations.

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