Manchester's economy and finance

Manchester is a traditional industrial town in Britain. In the past half century, Manchester has experienced the most painful industrial restructuring since the Industrial Revolution. From 196 1 to 1983, the total population of Manchester was only 300,000 to 400,000, and the manufacturing industry laid off more than 654.38 million people.

At the same time, the rise and development of service industry laid the foundation for the smooth transformation of manufacturing industry and urban revival. For more than half a century after World War II, Manchester's local economy has been transforming from an industrial economy to a service economy. With the decrease of employment opportunities in manufacturing industry, the service industry provides more and more employment opportunities, and the city has gradually become the commercial, financial, insurance and transportation center in northwest England. In 1950s, 19 remained the second largest financial center in Britain. At this time, the signs of service industry development in the area where Manchester is located have already appeared.

In the process of decades of industrial structure changes in Manchester, it directly reflects the evolution track from manufacturing-oriented to further rationalization of industrial structure. Although the proportion of manufacturing in Manchester is still slightly higher than that in similar cities in recent years, it has also undergone major changes. In the early 1960s, the manufacturing industry accounted for about 70% of the city's total economic output value, but now it only accounts for about 20%. The traditional steel, textile and shipping sectors have declined, and now the leading industrial sectors are financial services and commercial services. By 1992, the service industry in Manchester has accounted for 84.2% of the total employed population, while the manufacturing industry only accounts for 1 1. 1%.

Manchester is the hometown of the world industrial revolution, and the textile industry was once relatively developed.

At the beginning of the 20th century, as countries all over the world began to process cotton and produce cotton textiles, the British textile industry began to decline. Manchester developed new industries and became a modern city centered on more than 700 industries such as heavy machinery, textiles, oil refining, glass, plastics and food processing.

The factory in Manchester has changed from labor-intensive to capital-intensive to meet the challenge of a large number of high-quality and low-cost imported goods. The representative industries are machinery manufacturing, chemical industry, food processing, plastics, electronics, communication equipment, aviation and so on.

Manchester is the political and cultural center, business and employment center in northwest England. The construction area of the city center is 20 million square feet, including 7.6 million square feet of commercial construction area, and there are 16 10 shopping malls and shops. There are about 100 American companies and 27 German companies, as well as large companies from France, Norway, Switzerland, Sweden, Japan, Italy and other countries.

After more than ten years, Manchester continued to innovate, taking financial services and commercial services as the guide and creative industries as the alternative starting point, and gradually worked out a blueprint to win the future voice and core competitiveness. Manchester is the largest financial center city in Britain except London. Its financial/professional services include banking and fund management, insurance, law and auditing, management consulting, construction engineering and real estate, which are at the forefront of many economic activities. With its frequent large-scale mergers and acquisitions, this sector is the most typical sector of service-oriented economy. It is estimated that by 20 1 1, it will contribute 654.38+006 billion pounds to the economy.

Manchester is the main industrial center and commodity distribution center in England. In addition, the legendary "Manchester people" have the inherent temperament and commercial reputation of the civilized world. There are 60 domestic and foreign commercial banks, 50 accounting firms, 2 venture capital institutions/KLOC-0, many law firms with international reputation and countless independent financial exchanges, which make the city occupy an important position in the international financial industry.

There is a stock exchange market and Manchester Chamber of Commerce and Industry on King Street, which is the earliest and most prosperous branch of the Bank of England, the local office of the settlement bank, the headquarters of the cooperative bank and the headquarters or branches of more than 50 insurance companies. Manchester's fiscal revenue mainly comes from taxes and subsidies from the central government.

In 2003, the financial and professional services industry contributed 96,543.8 billion pounds to the economy of greater manchester, which is the largest industrial sector, accounting for about 62% of the financial services industry in the northwest of England. In 2004, the number of industrial employees reached 210.8 million, accounting for about 59% of the total employed population in this industry in northwest China. 1998-2003, the average annual growth rate of the employed population in Manchester's financial/professional services industry was about 4.4%, which was significantly higher than the average growth rate of 2.6% in the UK during the same period. In 2005, the transaction volume of financial services in greater manchester reached 654.38+07 billion pounds, mostly concentrated in the banking and insurance fields, and we can also learn a little from the financial giants gathered here. In fact, the core sector of Manchester's financial services industry is banking, and more than 60 banks have set up offices in the city, of which more than 40 are overseas banks.

From the point of view of financial services, the salary of relevant employees in Manchester is slightly lower than the average salary in the City of London 1/4, but the cost of living is also lower than that in London, which also reflects one of the competitiveness of Manchester as a regional financial center. Creative media industry or new media industry is a series of emerging media departments that focus on personal creativity or technology, tap and use intellectual property rights, and have the potential to create wealth and employment. It is a new industrial model in which technology permeates the traditional industrial field under the background of the new economic era.

In the past ten years, the role of creative industries in the British economy has long been well known. As the economic center of the northwest of England, Manchester has a keen insight into the new economic field of creative industries during the period of economic transformation. Today, Manchester is the distribution center of creative industries in northwest England, with many well-known higher education, cultural and media production institutions all over Britain, which has promoted the development of local creative economy. The local Granada TV station in Manchester and many independent media production companies derived from it, as well as the BBC's transfer of some business to Manchester, have enriched the local creative atmosphere in Manchester.

In 2003, the creative industry in greater manchester contributed 2.7 billion pounds of output value, accounting for 63% of the total output value of this industry in Northwest China. During the period of 1998-2003, the industrial growth rate was about 3.8%, which was higher than 3.2% in Northwest China and 3.5% in Britain. In 2004, the total number of employees was about 77,654,38+0,000, accounting for 60% of the total number of employees in this industry in Northwest China.

It should be pointed out that although the creative media industry has attracted more and more attention, the employment situation and economic promotion have also improved, the local contribution of Manchester to the total economic output is still shrouded in the shadow of London, a creative metropolis, and it is lower than the proportion of creative departments in the total economic output of the United Kingdom. The role of communication service industry in urban economy is reflected in two aspects: one is an important department to promote urban employment opportunities and economic growth, and the other is a key department to promote labor productivity and competitiveness of industrial activities as a modern service industry.

Manchester's communication services include software services, information technology consulting, telecommunications and computer-related electronic components services, and other support services (including strategic consulting, project management, system design, e-commerce services, technical support, outsourcing services, etc.). ) The situation of globalization is approaching step by step. Driven by technological strength, Manchester's information service industry has also grown substantially. The average annual growth rate is 10.4%. In 2007, the output value was about 265,438+700 million pounds, and it is expected to reach 2.8 billion pounds in 20 1 1 year.

Behind the growth of employment, the main driving force to promote the urban information service industry is the strategy of "Knowledge City in Manchester", which tries to make Manchester the center of knowledge-based industries with the advantage of gathering academic activities and research results. The aviation service industry is extremely important to greater manchester, mainly because Manchester International Airport plays a driving and supporting role in the local economy. In 2003, the aviation service industry in greater manchester contributed 620 million pounds of output value, with an average annual growth rate of 7.8% during the period of 1998-2003, far exceeding the national average growth rate (2.6%) in Britain during the same period. In 2004, there were about 13700 employees in the aviation service industry in this region, accounting for 77% of the total employees in the northwest region.

Manchester Airport is the second largest airport in Britain after London Heathrow Airport and one of the fastest expanding airports in Europe in recent years. In 2005, the airport transported more than 22 million passengers, and the total cargo volume exceeded 6,543,800 tons. Indeed, Manchester Airport is no longer just a connecting mode of transportation, but also a dynamic new economic sector-every time it carries 6.5438+million passengers, it creates 3,000 jobs in China, 2,000 jobs in Northwest China and 654.38+0.425 jobs in greater manchester every year. At present, Manchester Airport directly employs10.9 million people every year, indirectly bringing 23,000 employment opportunities to the northwest region. In 2004, the airport contributed 654.38+0.7 billion pounds to the gross national economy of Britain.