Budapest is a "Beta +" global city with strengths in commerce, finance, media, art, fashion, research, technology, education, and entertainment. It is Hungary's financial centre and was ranked as the second fastest-developing urban economy in Europe. Budapest is the headquarters of the European Institute of Innovation and Technology, the European Police College and the first foreign office of the China Investment Promotion Agency. Over 40 colleges and universities are located in Budapest, including the Eötvös Loránd University, the Corvinus University, Semmelweis University and the Budapest University of Technology and Economics. Opened in 1896, the city's subway system, the Budapest Metro, serves 1.27 million, while the Budapest Tram Network serves 1.08 million passengers daily.