Shandong became only the second province to reach a GDP of over 3 trillion yuan in 2008. While most of the economies across the world are suffering from the current financial uncertainties, Shandong, the eastern coastal province, impressed all by a 2008 GDP of 3.11 trillion yuan—a growth of nearly 12.1 percent, achieving an accomplishment previously only matched by China’s traditionally most prosperous province—Guangdong.

According to a more in-depth analysis of the figures, it was also Shandong’s Read more…

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China, crisis, economy, GDP, growth, province, Shandong

Contracts on 45 investment projects have been signed between Jiangsu province and 35 State-owned enterprises (SOEs) in Beijing last month, which are 222 billion yuan totally.

The most competitive State-owned enterprises, such as Sinopec and State Grid, will Read more…

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China, Contract, economy, GDP, Jiangsu, project, SOE

According to an industry association, after continuing to fall in the first half of this year, the economy will pick up in the third quarter.

The first two quarters will be the most difficult time for the industry. And from the end of the second quarter, the power demand, a barometer of the country’s economy Read more…

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According to the nation’s think tank the day before yesterday, China’s GDP growth could get 9% next year.

Because of the moves of stimulating investment and consumption, it is believed that the GDP growth could get 9% next year—with 70% possibility.

Wang Tongsan, a senior economist also holds the same opinion, he said Read more…

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China, domestic demand, economy, GDP, growth, package, spur, stimulus

Based on the data of China Association of Small and Medium Enterprises, SMEs contribute 60% of China’s GDP but only get less than 25% of total bank loans and receive fewer resources from the government. As the CEO of BPOVIA, one of SMEs in Nanjing, James Huang said, “To make larger contribution to China’s GDP, we need more support to enlarge our business”, the stronger the SMEs are, the better will be for China’s future.

Business experts also said that SMEs deserve more support from the central government.

Long Yongtu, secretary-general of the Boao Forum and former vice-foreign trade minister, once said at a forum to discuss the development of a central business district in Shenzhen that the world’s Read more…

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business, China, economy, GDP, SME, support

In the first three quarters, Shenzhen registered an 11.5 percent growth in gross domestic product (GDP) despite global financial turbulence.

Boosted by the hi-tech industry, especially the electronic information industry, industrial output of sizable enterprises reached 1.12 trillion yuan during the period, which rose by 14.5 percent. IT sector plays an important role in the significant rise. This sector grew by 16.4 percent to 111.35 billion yuan, which is 4.9 percent Read more…

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China, GDP, industry, IT, product, Shenzhen

According to the National Bureau of Statistics (NBS), compared with only 1.8 percent in 1978, China’s share of global gross output rose to 6 percent at the end of 2007 after the country’s reform and opening up.

The rapid economic growth over the last 30 years has made China’s GDP rank from 10th in 1978 to fourth after the United States, Read more…

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China, GDP, gross, NBS, output

Wuxi, 90 minutes’ drive from Shanghai, is considered one of the top 15 most economically developed cities. Its per capita GDP is expected to surpass $10,000 this year and the manufacturing industry is still on the lead.

Microsoft China, signed a contract with Wuxi government on Sunday, planning to open an IT training centre in Wuxi to turn out skilled professional to work in the emerging IT industry in this city. To offer professional IT training to 10,000 students a Read more…

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According to the Forbes survey, Hangzhou was named the best place to do business in China for a fifth consecutive year. Shanghai came the second and Beijing remaining in sixth position. Wuxi was third, Nanjing fourth and Ningbo fifth.

Forbes China short-listed 194 mainland cities from a pool of 652 candidates with an annual GDP above 19 billion yuan in 2006.

10 of the top 42 cities are from Jiangsu province, nine are from Zhejiang and seven are from Guangdong.

The Yangtze River Delta region was represented by Shanghai and another 23 cities from Zhejiang, Jiangsu and Anhui. The Forbes list was based on each city’s climate for business start-ups and private capital, which is why Hangzhou beat Shanghai for the top placing. Read more…

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With the high growth rate of China’s economy, the country’s target of doubling its GDP per capita by 2010 relative to 2000 level is under way.

According to a WTO report (drafted independently by the WTO Secretariat) released on May 21, China’s annual growth rate was estimated at 11.4%, higher than the average rate achieved during 2003-2006. Moreover, China has the potential and confidence to maintain this rapid growth in the foreseeable future. So the goal of doubling GDP that was set out in China’s eleventh Five-Year Plan is within reach.

Faced with a number of important social and economic challenges, including various economic imbalances, China also has to increase government expenditure on social services, like health and education, as well as basic pensions, thus possibly reducing the need for precautionary saving and raising consumption.

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China's economy, economic challenges, eleventh Five-Year Plan, GDP, WTO