[Updated Oct 2020] A guide to serviced offices and office space to rent in Wuhan as well as general information that may be useful if you are considering renting office space in the city.
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History & Geography
Wuhan is the largest city in central China and one of the most important in the country. The city is located in Hubei Province in the south-east of the country. Wuhan lies to the west of the Jianghan Plain and sits on the confluence of the Yangtze and Hanshui rivers. As one of the oldest cities in China, Wuhan can trace its origins back to the 3rd century CE and the Battle of Red Cliffs, a famous battle fought in the dying years of the Han Dynasty. The city grew quickly and became famous as a hub of arts and culture. By the 13th century, CE Wuhan had been made a provincial capital and was fast becoming the most important city in the region. By the 18th century, Wuhan had grown to become one of the most prosperous trading cities in China. In the late 19th century Wuhan’s infrastructure was further developed and foreign powers started to use the city as a mercantile base. In 1911 the city was the base of the uprising against the Qing Dynasty led by Sun Yat Sen. For some years after Wuhan served as the capital for the National Government. In 1938 Wuhan was captured by the Japanese, who made it their logistical base. As a result, the city was extensively bombed by the US Air Force during WWII and much of it was destroyed. The city was rebuilt after the war, an effort which culminated in the construction of the Yangtze River Bridge. The bridge boasted both a highway and railway and at the time was a major engineering achievement for the fledgeling Chinese government. Today Wuhan is often referred to as ‘the Chicago of China’ due to its importance in domestic transportation. The city is also acknowledged as the economic and cultural hub of central China.
Economy
Wuhan has a nationally important and thriving economy. Among the most important industries are trade, finance, transportation, information technology, manufacturing, and the pharmaceutical sector. The city has several industrial zones which are important factors fuelling its prosperity. Among the most important of these zones are the Wuhan Donghu New Technology Development Zone, Wuhan Export Processing Zone, Wuhan Optical Valley Software Park, and the Wuhan Biolake. The city’s industrial zones are primarily designed to encourage industrial efficiency and innovation and are major drivers of Wuhan’s economy. Wuhan also has a huge retail sector, rivalling those of Beijing, Shanghai, and Guangzhou. There are numerous department stores and malls which attract thousands of visitors to the city from outlying areas. Wuhan also benefits from very high levels of foreign investment, especially from France. There are currently around 50 French companies with a presence in the city, the highest level of French investment in any city in China. Wuhan also has a large education sector and the city is home to a large population of students. Primary among the secondary education facilities in the city is Wuhan University and Huazhong University of Science and Technology.
Tourism & Culture
Wuhan does not have the tourism industry of Beijing or Shanghai, but it does receive a fair amount of visitors from both the rest of China and abroad and has a unique and attractive culture all its own. A Chinese saying goes that Guangzhou is an eating paradise, Shanghai is a clothes paradise, and Wuhan is a mixture of both. The city does indeed have an enormous retail industry and has several famous department stores such as Wuhan Department Store, Zhongshang Company, and Hanyang Department Store. Wuhan is also renowned for its unique cuisine, which is one of the ten major styles of cuisine in China. Some of the more distinctive dishes Wuhan is known for are duck’s neck, hot and dry noodles, soup dumpling, and a doughnut, named Mianwo, which is thinner than a regular doughnut and known for its salty flavour. While Wuhan is not a tourism-fueled city, there are a variety of fun activities for visitors. Many go to the newly-opened amusement park, Happy Valley Wuhan, which features roller-coasters and a variety of other rides and activities. A trip on the mighty Yangtze River, which roles through Wuhan, is another favoured activity for many tourists to the city.
Transportation
Wuhan is served by the Wuhan Tianhe International Airport approximately 16 miles north of the city itself. The airport is one of the busiest in China and is the fourth largest international hub after Beijing, Shanghai, and Guangzhou. The city itself is served by the Wuhan Metro, which was opened in 2004. The metro is one of the most advanced in the world and features driverless trains and intervals of only 90 seconds between arrivals of trains. In 2009 the Hefei-Wuhan high-speed railway was opened, connecting Wuhan by rail to the rest of China.
Wuhan’s office market is notoriously sluggish, especially when compared to cities of similar size in China such as Shanghai, Beijing, and Guangzhou. Supply is expected to reach over 30 million square feet in the next couple of years, but whether there is demand, especially from the foreign companies based in the city, is debatable. Currently, the vacancy rate is 18 percent, though this is expected to slowly increase as more supply hits the market. In tandem with this rental rates are expected to slowly decrease as that Grade A supply increases. The average rental rate is currently RMB 90.1 per square metre per month.
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