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April 2005
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| CHINA
BY THE NUMBERS |
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| CHINA
BUSINESS HEADLINES |
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The Chinese Dollar and Its Global Implications
China¡¯s foreign reserves may exceed $1 tn by the time of the Beijing Olympics in
2008. That would be roughly equivalent to all the combined foreign reserves of
the rest of the world outside of Japan today. We believe highly concentrated
capital movements directed by the State Administration of Foreign Exchange
(SAFE) mean this money will influence the world¡¯s financial markets, having an
impact similar to that seen previously with the oil dollar in the 1970s and the
Japanese dollar in the 1980s...
[More]
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China Ranks Third in Global Trade
The relentless growth of China's economy and its extraordinary rise as a
supplier to the world's consumers has pushed it to third spot among global
traders, behind only the United States and Germany...
[More]
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IDC Predicts Steady Growth in China's Online Gaming Market over the Next 5 Years
China's online gaming market revenue reached US$297.9 million in 2004, an
increase of 47.9% over the previous year. The year was characterized by a lack
of innovative products, forcing both game operators and vendors to seek new
avenues for growth as competition increases. IDC expects mainland China's online
gaming market to show steady growth over the next five years with a relatively
high compound annual growth rate (CAGR) of 34.7%...
[More]
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China to Have Enough Electricity by 2007
China's years-long power shortages are expected to be alleviated by 2007,
according to Sun Jiaping, director of Energy and Information Committee of
Chinese Society of Electrical Engineering...
[More]
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Economy Sets Sizzling Pace
After a stunning growth rate of 9.5 percent for the past 15 months and 9.3
percent for the year before that, most analysts expect China's
government-induced cool-down finally will start to have an effect later this
year. They expect growth this year will slow to about 7 or 8 percent -- still
better than any other significant economy in Asia and more than enough to keep
China's mantle as a global engine of expansion...
[More]
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| QUOTES
OF THE MONTH |
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"China is already the world's fastest-growing large economy, and the second
largest holder of foreign-exchange reserves, mainly dollars. It has the world's
largest army (2.5 million men) and the fourth largest defense budget, which is
rising by more than 10 percent annually. Whether or not it takes over the United
States economically, which looks to me like a distant prospect, it is the
powerful new force on the global scene,¡± said Newsweek International Editor
Fareed Zakaria...
[More]
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| DID
YOU KNOW? |
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May Day Marked Nationwide
From north to south, west to east, Chinese people began May Day, also the first
day of the "Golden Week" holiday, in various ways of entertainment and
celebrations...
[More]
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| COMPANY
IN ACTION |
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GM's China Sales up 1.3% in First Quarter
General Motors Corp., the world's largest automaker, said Tuesday it sold
132,401 vehicles to dealerships in China in the first quarter, up 1.3 percent
from the same period last year...
[More]
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EBay Looks to China for Growth
EBay Inc. became one of the world's biggest e-commerce companies because of its
phenomenal popularity in the United States, Germany and other wealthy countries.
But executives at the San Jose-based online auction powerhouse acknowledged this
week that they'll have a hard time getting new customers in mature markets, and
they say they'll rely on overseas consumers -- particularly the Chinese -- to
sustain scorching growth rates...
[More]
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Disney Faces Cultural, Economic Gap in China
Inside the Lin home and many others in China, there is a distinct generational,
cultural and economic divide -- and it figures to be a major challenge for Walt
Disney Co. and other Western companies trying to sell entertainment in the
world's fastest-growing emerging consumer market...
[More]
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Amazon Courts Chinese Diaspora
AMAZON.COM is planning no more acquisitions in the fast-growing Chinese
market, but hopes to broaden appeal of its China unit to tens of millions of
overseas Chinese, a senior executive said...
[More]
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FedEx Covers More of China
FEDERAL Express Corp (FedEx), which currently provides expressway
transportation services to 228 towns and cities in China, plans to extend its
ground network to 100 new destinations over the next five years, said FedEx Asia
Pacific vice-president Malcolm Sullivan...
[More]
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| MAGNIFYING
GLASS |
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