Nanjing’s Today

2 min read

The current industry of the city basically inherited the characteristics of the1960s，with electronics，cars，petrochemical，iron and steel，and power as the “Five Pillar Industries”.Some representative big state-owned firms are Panda Electronics，Jincheng Motors and Nanjing Steel.The tertiary industry also regained prominence，counting for 44%of the GDP of the city.The city is also vying for foreign investment against neighboring cities in Yangtze River Delta，and so far a number of famous multinational firms，such as FIAT，IVECO，A.0.Smith and Sharp，have established their lines there.After China’s entry into WTO，Nanjing hasreceived increasing attention from foreign investors，and on average，two new foreign firms establish offices in the city everyday.

The city government is further improving the investing desirability of the city by building large industrial parks，which now totals to five:Gaoxin，Xingang，Huagong and Jiangning.Despite the effort，Nanjing is still falling behind other neighboring cities such as Wuxi，Suzhou and Hangzhou，which have an edge in attracting foreign investment and local innovation.In addition，the traditional state-owned enterprises find themselves incapable of competing with efficient multinational firms，and hence are either mired in heavy debt or forced into bankruptcy or privatization.This resulted in large number of layoff workers who are technically not unemployed but effectively jobless.

Nightlife

Traditionally Nanjing’s nightlife was mostly centered around Fuzi Miao area along the Qinhuai River，where night markets，restaurants and pubs thrived，and boating at night on the river was a main attraction of the city.The area was alsofamous（or infamous）for the high concentration of upper-class prostitutes，many of them patronized by high-ranking government officials and wealthy businessmen.The prostitution was banned after CPC took over Nanjing.

In recent years，several commercial streets have been developed by the city and the night life has become more diverse:there are mega-shopping malls opening late in the Xinjiekou CBD and Hunan Road，and the newly-opened“Nanjing 1912″district hosts a wide variety of pastime facilities ranging from traditional restaurants to western pubs.