Position : Home > Learn Chinese > Blog >

Boom city

To many western business people, China in general, and the East Coast and Qingdao specifically, can seem like the Holy Grail of business oppotunities: a land of near limitless labour resources, an economy that is still growing and growing fast even whilst the rest of the world stagnates, weighed down by a mountain of toxic debt -and a vast population that just keeps on getting richer. Even better news, for those of us already here, is that, according to research undertaken by China Fortune Magazine, HSBC and others, the East Coast, and Qingdao and Shandong in particularare at the vanguard of China ‘ s next wave of economic development. China is undoubtedly a power house, but in the next 20 years or so, the world is going to see exactly what the Mother Land is made of.

According to the lMF, ” while pre-1978China had seen annual growth of 6 percent a year (with some painful ups and downs a long the way), post-1978 China saw average real growth of more than 9 percent a year, ” with fewer and less painful spikes and troughs. The lMF notes that in several peak years, growth topped out more than 13 % and “per capita income has nearly quadrupled in the Iast 15 years.” Some analysts are today predicting that the Chinese economy will be larger than that of the United States in 20 years-maybe Iess. It has, by some measures, already surpassed Japan to take the second spot.

Harry jiang heads up theQingdao office of the China-Britain Business Council. ” China needs to stop being theworld’ sfactory; it needs to develop its own R & D and start innovating. ” Research and development then is critical to the next phase of China’s development. Jiang says Qingdao is particularly well placed to make pioneering steps in this regard. “Our Iocation, a port city, means that Qingdao is a well established centre for export. But our proximity to other high tech countries such as Korea and Japan mean that Qingdao already has good links with technology hubs there.

According to Jiang, Qingdao is a Iready leading in what HSBC says is the next phase of Chinese economic development. They say :”sizzling growth should continue for at least another five years” as local governments have managed to beat Beijing’s growth targets every year since 1980.” Published data for the coming Five-Year Plan(2011-2015) show most provinces remain ambitious in their targets.”

上一篇：Be a winer
下一篇：Changing the mother tongue

FAQ

Contact us

Shinan Campus: Floor 21th, Building A, Central international (zhonghuan) Plaza, No. 19 zhangzhou Er Lu, (Bank of China’s uptairs), Qingdao

P: (86)532-88078385/85890993
EP: 13589278775
Skype:Call me!

Email:study@xmandarinchinese.com