Race to riches
Updated: 2014-09-04
Boom town wuxi may show what's in store as china aims to join the high-income club |
Wuxi, a historic city on the Yangtze River Delta just half an hour by high-speed train from Shanghai, could be a vision of China's future.
The Chinese government in its next five-year plan is likely to set a target of becoming a high-income country by 2020.
This would mean the whole country achieving a gross national income per capita of $12,616, more than double the 2012 level of $5,720.
The eastern seaboard city, which has been the focus of economic activity since reform and opening-up started in the late 1970s, is already past that goal. Its 11 million residents already enjoy a per capita GNI of $20,400, nearly four times the national average.
There are also villages within the Wuxi administrative region such as Huaxi, Jiuxing and Tengtou that are among the richest in China. These are where multi-millionaire entrepreneurs from Jiangsu province, whose enterprises stretch not just across China but also increasingly Africa, have their luxury homes.
The area's economy is to some extent built on light industry such as textiles, apparel, electronics and other consumer products. It is also the home of China's Hollywood with Wuxi Film Studios now doing post-production for a number of US blockbuster films.
Tel:0510-81178873
E-mail:haiyulu@163.com