According to a more in-depth analysis of the figures, it was also Shandong’s 17th consecutive year of posting a double-digit growth, the province’s per capita GDP also firstly surpassed the 30,000-yuan mark.

Nevertheless, the provincial government is not taking the impressive figures as a mandate for relaxing their drive for economic expansion. On the contrary, it has released ambitious plans to sustain development across the whole province, particularly focusing on boosting the under-performing regions in Yellow River Delta and southern Shandong.

At present, some 72 percent of Shandong’s GDP is contributed by the province’s major cities like Jinan, Qingdao, Yantai and Weihai. Under the local government’s new strategy, growth of 10 major cities in Shandong will continue to be nurtured, though additional resources will be diverted into supporting the economically unsuccessful areas.

Even though they currently make comparatively small contributions to the province’s overall GDP, the local government has identified huge potential for future development among the natural resources and fine ecological balance in both the Yellow River area and the south of the province. Rich Coal reserves have already been identified in southern Shandong, whereas programs are already under way to develop the Yellow River Delta into both the nation’s second largest oilfield and one of most expansive wetland areas in China.

According to Jiang Daming, the governor of Shandong, the new development strategy will place an emphasis on integrating the major cities surrounding the provincial capital Jinan into a closely-linked city cluster, as well as developing a high-end manufacturing industrial zone in the eastern areas. The strategy also includes programs of building an ecologically-friendly economic zone in the Yellow River Delta and stepping up the development of the iron and steel industry in Rizhao, a port city in southern Shandong.

Jiang said a budget of 1.6 trillion yuan had already been earmarked to initiate the scheme with a majority of it being allocated to an infrastructure construction program. In spite of the ongoing uncertainties in global financial markets, the investment aims at ensuring the province maintains an annual GDP growth of at least 10 percent.

The program of urban facility construction, part of the initiative, will be accelerated in the two major cities of Jinan and Qingdao. 335 key construction projects, or a combined investment of 337.4 billion yuan, are expected to start in Qingdao alone in 2009. Another 204 projects, involving a total investment of around 166.1 billion yuan, are planned for Jinan. Furthermore, some 53 billion yuan will be used to improve port facilities in Qingdao, Yantai, Rizhao, Weihai and Jining. Meanwhile, 167.3 billion yuan will be invested in improving road and rail transportation facilities away from the cities, with the total length of railways in Shandong expected to reach 5,500 km by 2015.

As part of the national development plan, the proposed development of ecological-friendly economic zone in Yellow River Delta will also receive some 100 billion yuan of investment in 2009.

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The most competitive State-owned enterprises, such as Sinopec and State Grid, will supply investments to the 45 projects, focusing on infrastructure construction, manufacturing and service sectors.

14 of the 45 projects have an investment of more than 5 billion yuan which include a wind power project by China Guodian Corp in Nantong and a container terminal by COSCO Group in Suzhou. China Communication Construction Co Ltd in Lianyungang on coastal development has supplied investment to the biggest single project which contains 20 billion yuan.

The provincial government will help to start these projects timely. What is more, they will supply special policy support to some projects, said Luo Zhijun, governor of the east coastal province.

310 State-owned enterprises in Jiangsu created 1.1 trillion yuan business revenue in 2008, accounting for one sixth of the province’s total, which have made a great contribution to regional GDP of Jiangsu, exceeding 3 trillion yuan, a 12.5 percent increase year-on-year.

According to Li Rongrong, minister of the State Assets Supervision and Administration Commission, Jiangsu has advantages in talents, market and economic foundation, and SOEs have competitiveness, management and technologies. Cooperation between the two will definitely benefit both sides.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

Please visit http://www.BPOVIA.com/ for details about our service.

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 may start increasing, in north, east China and southern coastal regions, compared with last year. After that, the demand in the central and western regions will also be driven up in the fourth quarter, said China Electricity Council (CEC).

Senior CEC executive Xue Jing said that the main reason behind the declining demand for power is the sharp decline in power consumption from high electricity consuming industries.

In the fourth quarter of last year, power consumption from the chemicals, building materials and metals sectors all experienced negative growth, he added.

The high growth of power demand in the first half of 2008 makes the growth rate in 2009 difficult to be outstanding, Xue said. The CEC forecast the China’s power consumption will increase 5% in 2009, which can supply the need for 8% growth in GDP, said Wang Yonggan, CEC’s secretary general.

A slowdown in industrial activities nationwide was indicated by China’s power generation falling for three consecutive months since last October compared with the corresponding period in the previous year.

China’s power generation has been a barometer of the economy in the past years because of so much of the country’s growth relying on power-intensive industries such as steel, aluminum and chemicals.

“The manufacturing industry has seen some recovery, that will ensure the power demand to increase in the second quarter,” said Dong Xian’an, macroeconomic analyst of China Southwest Securities.

Based on the figures of the China Federation of Logistics and Purchasing, the Purchasing Managers’ Index (PMI) of China’s manufacturing sector rose to 45.3% in January, from 41.2% in December and a record low of 38.8 percent in November.

The improved data makes the economic situation brighter. It is believed that economic decline may be bottoming out soon.

Some experts hold the opinion that China’s GDP growth will experience a surprising jump in 2009, with the bottom having appeared in the fourth quarter last year.

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China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

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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 the growth might be higher.

According to the economic forecast research team, the growth rate in economy next year will be 9.3%, which is higher than those made by international organizations.

The World Bank said last month that although they expect China can have 9.4% growth this year, China’s growth may slow to 7.5% next year, the lowest since 1990, as the global financial crisis would affect more on economy in 2009.

The whole world is paying attention to China’s next year’s growth. An Organization of Economic Cooperation and Development report said China’s growth next year could be 8%, while the International Monetary Fund put it at 8.5%.

Chinese Academy of Social Sciences (CASS)’s Wang said the stimulus package and moves from government will make next year different. They believe the policies to spur domestic demand will work well and bring impressive effect.

Local government have promised to follow the central government’s steps to give a hand helping stop the national economy from sliding further after it registered an annualized 9% growth in the third quarter of this year.

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China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

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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 top 500 companies are greatly respected, but the ultimate element to decide our economic success is the development of SMEs.

The majority of SMEs are privately owned, but they will not develop into ideal state until the government ends its discrimination and gives fair treatment to firms.

Small-and medium-sized enterprises are becoming more and more important in China. And in some parts of the country, such as Guangdong province, they have become a key part of he-tech industry.

Economists agreed that government should give a hand to SMEs especially during the hard time.

As Premier Wen Jiabao urged, local governments should readjust and improve policies to support SMEs, since they play a crucial role in “promoting economic growth, increasing fiscal revenue, providing jobs and maintaining social stability”.

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China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

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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 points higher than the city’s average. Growth in hi-tech industrial output accelerated from 13.2 percent in the first quarter, 15.53 percent in the second quarter to 17.58 percent in the third. The government expects the growth to hit 18 percent this year.

Software sales, which recorded solid growth in the first three quarters, were 81.2 billion yuan, up 36.7 percent; and software exports were $5.1 billion, up 69 percent.

The industrial giants are the biggest support for the development of this sector.

China’s largest telecommunications equipment maker Huawei Technology generated 50 percent growth of 81.7 billion in output. ZTE Corp, telecom equipment maker, made a rise by 23 percent to 27 billion yuan in output. Battery producer and automaker BYD Co Ltd’s output reached 9.9 billion yuan, went by 13.6 percent.

In the first nine months, foreign direct investment hit $3.18 billion, up 17.5 percent year-on-year. Exports climbed 9 percent to 130.96 billion. And retails hit 166.2 billion yuan, went up 18.5 percent. The city completed 97.11 billion yuan of fix-asset investment which was about 66 percent of the sum planned for this year.

The hi-tech sector of Shenzhen city was booming last month. The national patent technologies Shenzhen showcasing and trading center was finished. The 3 billion yuan is prepared to build Shenzhan Software industry Base.

Shenzhen High-tech Industrial Park is burgeoning into an international centre. Four key labs, including one operated by the City University of Hong Kong, were launched at a virtual university campus.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

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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, Japan and Germany.

China’s economic output was $3.28 trillion in 2007, which was about 23.7 percent of that of the US, 74.9 percent of Japan’s and 99.5 percent of Germany’s.

By World Bank rankings, China is still a developing economy with lower middle income. Per capita income jumped to $2,360 in 2007 from $190 in 1978, said the NBS statement.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

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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 year in the centre, Wuxi New District the city’s high-tech zone will provide infrastructure, while Microsoft will bring the technical platform and program. All the effort is committed to developing the city into the country’s leading outsourcing centre, according to Yang weize, Party chief in Wuxi.

Wuxi’s official, who went to India’s Bangalore last month to seek cooperation with the outsourcing companies there, is confident with this project, and plans to have 100 companies providing international outsourcing services and exporting software by 2010. They expect each company will employ at least 2,000 staff and will have an export volume of $30 million.

Yang said they believe Microsoft’s experience will help them develop a large pool of IT professionals; and Wuxi’s solid industry foundation and overseas business network will help it develop a strong outsourcing industry.

Zhang Yanqin, head of Microsoft (China), said the company is willing to help Wuxi achieve the outsourcing goal.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

Please visit http://www.BPOVIA.com/ for details about our service.

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.

As the capital city of Jiangsu province, although the GDP created by private companies in Nanjing is not so much as Hangzhou, it is also an essential place in Yangtze River Delta. Private companies contribute a lot for this city’s GDP every year, and get lots of benefits as well. BPOVIA is a representative of those private companies in Nanjing. The CEO of BPOVIA James Huang once said, “doing business in Nanjing is definitely a right choice.”

It is believed that Nanjing will climb higher to the top three in the list in two to three years.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

Please visit http://www.BPOVIA.com/ for details about our service.

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.