Changsha is now one of the core cities in the Yangtze River Economic Belt and the Belt and Road Initiative, a Beta- (global second-tier) city by the GaWC, a new Chinese first-tier cityand also a pioneering area for China-Africa economic and trade cooperation.Known as the "Construction machinery capital of the world", Changsha has an industrial chain with construction machinery and new materials as the main industries, complemented by automobiles, electronic information, household appliances, and biomedicine. Since the 1990s, Changsha has begun to accelerate economic development, and then achieved the highest growth rate among China's major cities during the 2000s. The Xiangjiang New Area, the first state-level new area in Central China, was established in 2015.As of 2020, more than 164 Global 500 companies have established branches in Changsha. The city has the 28th largest skyline in the world. The HDI of Changsha reached 0.817 (very high) in 2016, which is roughly comparable to a moderately developed country.