China may become 2nd largest economy in a decadeTOP
Experts predict China will likely surpass Japan in the coming decade to become the world's second largest economy.
If trade continues to grow at the annual rate of 7 percent after 2010, the figure will hopefully rise to 5 trillion in 2020, 10 times that of 2001, China's foreign trade volume is expected to reach 2.5 trillion US dollars by the year 2010, making it the second largest trade country in the world. China's export already ranked the third in the world by the end of 2004. In the next 15 years foreign trade is to grow in a more favorable macroeconomic environment with the positive impact of China's entry into the WTO.
Experts said the economic outlook was conditional on whether the country could swiftly adjust itself to ever-evolving domestic and global circumstances.
Some experts said they believed that China faced obstacles, including environmental problems and resource constraints, rising labor costs, imbalanced foreign trade, economic restructuring and an incomplete social security network.
Even "moral degradation" has been taken as "daunting challenge".
Despite the challenges, one prediction is that China is on the way to becoming a world-class economic power only after the United States by about 2018.
At that time, China's per capita GDP (gross domestic product) is expected to surge from the current US$1,870 to about US$6,000, a benchmark between middle- and upper-developed countries.
The think-tank organization also predicated that China's growth pace would gradually slow down from the current blistering 11.5 percent to 8-9 percent by 2018.
If growth is sustained, China will outpace Japan as the world's second biggest economy.
Despite the fast growth, the economists reached the consensus that China should step up its efforts to continue its "balanced approaches" to tackle "unprecedented challenges" while becoming globalized.
China will continue to attract foreign investments, and domestic enterprises will explore more opportunities for investing overseas in such areas as resource development, information transmission, and computer services.
Export growth may be constrained by the slowdown of world economy and the possible stagnation of market expansion, and export tax rebate may further add to the country's fiscal burdens.
Business Culture in ZhejiangTOP
A province with a long commercial and seafaring history, Zhejiang's cities of Hangzhou, Ningbo and Wenzhou have driven the massive growth in the east of China.
In China’s economic boom, businessmen are getting more attention. Zhejiang Business Faction is the most promising group among them. Accordin to the Hurun Fortune List 2006, 106 of China’s 500 richest people are from Zhejiang. In the bid for CCTV’s advertisements in 2007, the total bids from Zhejiang totaled ten percent, which means the increasing brand awareness of Zhejiang business people and is turning their products into national brands.
Situated on the east coast, Zhejiang has a long commercial and seafaring history. Over time, Zhejiangese have become known for their creativity, path-breaking spirit, free-thinking tradition and matter-of-fact attitudes.
During the Tang Dynasty (618-907 AD), Ningbo and Wenzhou were famous trade ports, and Zhejiang businesspeople regularly traveled from Ningbo to Japan for business. After the Opium War in 1840, Ningbo and Wenzhou were opened as international trade ports and became early bases of modern Chinese industry. Ningbo gave rise to one of the most powerful business groups in Shanghai in the early twentieth century. Since reforms began in 1978, Zhejiang township enterprises have developed rapidly, and the city of Wenzhou has become famous for its thriving private sector.
Zhejiang people use their sophisticated social skills to their advantage in business. During negotiations, for instance, Zhejiangese tend to say little about themselves, letting their prospective business partners speak first and thus feel more knowledgeable and authoritative. In handling relationships, Zhejiangese excel in adjusting their tactics to the social status, position, purpose and perspectives of their counterparts.
There are basically two prominent groups of Zhejiang businesspeople: those from Ningbo and those from Wenzhou. Ningbo businesspeople have a reputation for leaving home to seek their fortunes. Shanghai was traditionally the main base for Ningbo natives starting businesses in China, while Hong Kong was the main base for overseas Ningbo businesspeople. The only two world-class Chinese shipping tycoons were Ningbonese: C. Y. Tung (the father of Hong Kong's current chief executive, Tung Chee-Hwa) and Yue Kong Pao. Like the Shanghainese, Ningbo businesspeople are familiar with both Western and Eastern cultures (Ningbo was one of the treaty ports opened to foreign trade in the late Qing Dynasty) and thus are considered sincere and generally enjoy a good reputation among their clients.
Coastal Wenzhou is surrounded by mountains and open seas. Since ancient times, Wenzhounese have taken pride in running businesses. Today they are not only known for their intelligence, but also for their business acumen. Wenzhounese are well known for their "thick face" for not fearing rejection and for selling their products throughout the country with smiling faces, endless persuasion and worn-out shoes. Wenzhou businesspeople have spread out all over China and the world during the reform period.
People from Wenzhou are not picky about how they make their fortune. They will deal in low-end items that others disdain, like buttons and cigarette lighters, and earn riches quietly. Most of them also like being their own boss and are willing to take risks to do so. One recent example is the story of young entrepreneur Wang Yao, who since 1991 has audaciously negotiated with six airlines to open more than 50 domestic charter lines.
We can sum up the Zhejiang business culture in one sentence: it is like Nike’s advertising slogan, “Just do it” – or, “Make a fortune and shut your mouth!” in Shanghai slang.
Investment Environment of WuHanTOP
Wuhan is the capital of Hubei province and one of the six big cities of our country. Located in the east of Hanjiang plain, Wuhan is the important heart city of China and it is also the center of polity, economy, culture and finance.
After reform and opening-up, Wuhan's economy improved at a high speed. The national economy steady increased continuously. Multi-manager system in foreign trade has been further strengthened. The export in self-support enterprises and three-form enterprises take up 17.5% and 15.3% of the gross value respectively. Amount of foreign capital actually used is 1.432 billion, 10% higher than that of last year. The foreign investors which are listed into top 500 in the world increased to 40, accumulative total 3895 three-form enterprises have been approved.
Encourage foreign investment to participate in state-owned asset reform:
1. permit foreign investors to invest in participating in state-owned asset reform by means of sharing, controlling(except the industries must be controlled by Sino side according national regulations),pooling, purchasing, tenancy, trusteeship and contract.
2. Charge rate will be adapted for foreign investment to participate technology reform of state-owned old industrial enterprises.
3. Foreign investment participate in state-owned technology reform, Chinese part invested the land using right acquired by governmental transferring.
4. Foreign investors annexed or purchased the state-owned enterprises in lost for sequential three years, approved by revenue department, according to the measure of refund after clearance, the land value-added tax can be returned.
5. Foreign investors hired and managed fixed assets which are leaved unused such as workshop, equipment, facilities, according to the measure of refund after clearance; the sales tax can be return.
6.the refunded 70% of the paid land transfer fee which is invested in old enterprises in urban to carry out moving and rebuilding should re-invested as the national capital to enrich the relatively capital of Chinese part.
History of Ancient Chinese ArchitectureTOP
From Primitive Society to the Han Dynasty, the technique on timber structure buildings were gradually improved and perfected. Builders had mastered earth ramming skills. They also knew how to fire tiles and build with stones.
Architecture technology developed significantly during the Wei, Jin, Southern and Northern Dynasties.
The output and quality of the bricks and tiles are improved, as well as the techniques on timber structure. Many Buddhist architectures are built then.
During the Sui and Tang Dynasties, the application of bricks had become more popular. Advance had been made in baking glazes. The proportion of the building components fell into a fixed pattern.
The Song Dynasty period was an important time for ancient Chinese architecture. Great improvement had been made during that period. The scale of the buildings in the Song Dynasty is generally smaller than that in the Tang Dynasty. However, they were more beautiful, gorgeous and are rich in diversity. There are many kinds of buildings in complicated models, such as palace, pavilion, multistory buildings and terraces.
During the Yuan Dynasty many Tibetan Buddhist temples and Islamic mosques were built. The architectural arts of Tibetan Buddhism and Moslem had influenced all over the nation.
Ancient architecture building reached its zenith during China two last imperial dynasties-Ming and Qing Dynasties. The production of the bricks had greatly increased. The quality and quantity of glaze tiles had exceeded any past dynasties. The official buildings were highly standardized.
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