Changsha is the capital of Hunan Province, and there are five districts and four counties under its jurisdiction. It's now serving as the province's political, economic and cultural center. Before 1949, when new China was founded, the economy was underdeveloped and the local industry was virtually non-existent. The last 50 years have seen a tremendous change in Changsha's economic development and urban construction.
In 1998, it realized 54,285 billion yuan of GNP, and its GDP accounted for 16.9 percent of the provincial total. Its proportion of the primary, secondary and tertiary industries was 12.9, 42.9, and 44.2 respectively, its economic growth was four percentage points higher than the province's average; the local government had a revenue of 3.026 billion yuan; the per capita income of urban residents was 6,649.99 yuan and that of rural residents was 2,755 yuan, the investment in fixed assets in the city totaled 14.84 billion yuan, and the foreign trade volume totaled $ 260 million including $ 210 million of exports.
Changsha plays an important role in Hunan's economic development. Its urban areas are the industrial, trade and financial center of the province. Its rural areas are famous for grain production and pig farming. Among the 32 large cities in China, which have a population of 1 million or more, Changsha ranks the eighth in terms of general economic capacity.