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Former
US Federal Reserve Chairman Alan Greenspan predicts in his
memoirs that the world's economic fate depends on China and
its market economic development between now and 2030. He also
praised China for creating "a huge change in the world
economy" after shifting toward a market economy.
Napoleon Bonaparte said 'China - there lies a sleeping giant.
Let him sleep, for when he wakes he will move the world."
Indeed the sleeping giant has woken. As we enter the 21st
century, China widens its doors to the rest of the world,
with its recent acceptance into the World Trade Organisation
and as host to the 2008 Olympic Games. The Middle Kingdom
today is the largest market in the world. The economy and
market of China are developing very fast and changing rapidly.
A part of that market can truly be yours with the right advice
and assistance.
Click
the picture to enlarge the map of China
Capital: Beijing
Area: 9,956,960 sq km (UK:244,100 sq km), 40.8 times
the size of the UK
Population: 1.33 billion (May 2008), one-fifth of the
world's population
Major language: Mandarin Chinese
The Basic Facts about China:
-
China is the world's biggest market with more than 1.3 billion
consumers (3.3% are millionaires in 2007).
-
In 2007, China has 18,000 billionaires (rank 2nd in the
world and behind USA).
- China
also has one of the world's fastest growths of GDP.
- China
is the most attractive destination for foreign investment,
according to a survey conducted by leading global professional
services firm Ernst & Young in July 2007.
- China
is the biggest recipient of Foreign Direct Invesetment (FDI)
in the World.
- China
had overtaken the UK, France & Germany as the world's
3rd largest economy by the end of 2007.
- China
overtook the UK as the world's second-biggest destination
for venture capital investments in 2006.
- China
overtook the United States to become the world's second
largest exporter in 2007.
- China's
foreign exchange reserve had approached 1.4 trillion US
dollars by the end of July 2007, ranking it first in the
world.
- China
is the world's biggest furniture exporter.
- China
is the 3rd largest investor in Africa in 2007.
- Labour
costs in China are about one tenth those in the UK.
- China
is producing 2 million graduates a year including 270,000
in science and engineering.
- There
are more than 4,400 joint ventures involving UK companies
and Chinese partners, and each year an additional 400 new
joint ventures are being entered into.
- The
world's largest user of mobile phones, steel, copper, cement,
cotton, TV sets, cotton fabric, the internet and PCs, etc.
- China
is the largest oil consumer after the US, and the world's
biggest producer and consumer of coal. The country spends
billions of dollars in pursuit of foreign energy supplies.
There has been a massive investment in hydro-power, including
the $25bn Three Gorges Dam project.
- China
became the world's largest gold producer in 2008.
- It
is estimated that over 300 million Chinese people currently
speak English. And in twenty years time the number of English
speakers in China is likely to exceed the number of speakers
of English as a first language in the all of the rest of
the world.
- China
is the biggest recipient of foreign direct investment in
the world.
- 25
per cent of the world's washing machines are produced in
China.
- 30
per cent of the world's television sets.
- 40
per cent of the world's microwaves.
- 50
per cent of the world's cameras.
- 50
per cent of the world's shoes.
- 70
per cent of the world's photocopiers.
- 60
per cent of the world's toys.
GDP - real growth rate: 10.4%(2nd quarter 2008), 10.6%(1st
quarter, 2008), 11.9% (2007), 10.7% (2006) , 9.9% (2005)
Main exports: Manufactured goods, including textiles,
garments, electronics and arms.
Currency: yuan (CNY) or Renminbi (RMB)
Exchange rates: yuan per US dollar - 6.98 (May 2008),
7.20 (2007), 7.90 (2006), 8.10 (2005), 8.26 (2003)
International dialling code: 0086
Major religions: Buddhism, Christianity,
Islam and Taoism
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