Wuhan is the capital of central China's Hubei Province, and was once the city hardest hit by COVID-19. CGTN reporter Hu Chao revisits to find out how the Wuhan and its residents are getting on.
Wuhan is one of the core cities along the Yangtze River economic belt, playing a leading role in the development of central China. The metropolis has a population of over 10-million people and is home to many major companies and manufacturers. But last years' COVID-19 outbreak and the months-long lockdown took a heavy toll on the city's once vigorous economy. Its GDP in the first quarter of last year suffered a sharp decline of about 40 percent. Despite the recession, Wuhan soon recovered and grew rapidly over the next three quarters. Official statistics show Wuhan's GDP in 2020 exceeding 1,560 billion yuan, or about 240 billion U.S. dollars, putting it in the top ten in China. Professor Huang Manyu explains how Wuhan made such a miraculous turnaround.
PROFESSOR HUANG MANYU Economy & Trade Department, Zhongnan University of Economics & Law "The country offered Wuhan a package of favorable policies to help it recover, including financial support, tax reductions and the introduction of projects. And the city itself has shown great resilience over the epidemic, thanks to its advantages in industry, talent and location. All these factors have contributed to Wuhan's rapid recovery."
Consumption in Wuhan also fell dramatically. Local authorities handed out vouchers worth a total of 500 million yuan to encourage consumption. That's nearly 80 million U.S. dollars. The vouchers leveraged consumption worth 5.6 billion yuan, or more than 850 million U.S. dollars.
PROFESSOR HUANG MANYU Economy & Trade Department, Zhongnan University of Economics & Law "Wuhan has great potential for consumption. Last year was difficult for Wuhan, but its total retail sales of consumer goods put it in the top ten in China. That means the epidemic only had a short-term impact on the city, and it won't stop Wuhan from becoming an international consumption center in the future."
Many local residents and visitors from outside see an even better future for Wuhan.
"Last year, I went through the COVID-19 outbreak here in Wuhan. Our country is so strong that I didn't expect Wuhan could reopen so soon."
"I came from Xiamen. I think Wuhan is a heroic city. After being through a disaster, Wuhan has shown a strong ability to recover and is full of vigor."
"I feel that Wuhan seems to be reborn. I believe Wuhan will get better and better."
HU CHAO Wuhan, Hubei Province "A Crisis also brings opportunities. Local officials say Wuhan will seek high quality and innovative development in the future and take the lead among cities in central China. Hu Chao, CGTN, Wuhan."