According to a report on private property released by China Merchants Bank and consultancy Bain & Company on March, 30, 2009, there will be 320,000 people who each possess at least 10 million yuan ($1.46 million) of assets by the end of 2009, up 6 percent from 2008.

Including cash, stocks, funds, securities and real estate investments, the total assets covered in the report are expected to surpass 9 trillion yuan ($1.29 trillion) in 2009, up 7 percent from 2008.

The survey investigated 700 interviewees by questionnaires or face-to-face interviews. All the respondents had property of at least 10 million yuan. The investigation started on the mainland in late December in 2008 and lasted three months.

According to the survey, Guangdong province ranked first in the population of rich people, closely followed by Shanghai, Beijing, Jiangsu and Zhejiang. Last year, Guangdong province alone has 46,000, or 15 percent of China’s wealthiest people.

Ma Hua, deputy director of CCTV.com’s R&D center, was not surprised by the results of the survey. Ma counted the rich ones among his friends and observed that they are hardly affected by the current economic downturn because most of them are conservative investors. Ma said his friends made their fortunes by cautious investments in stocks. “Since they make money all by themselves instead of inheriting property, they tend to be conservative in using it,” he said.

It’s generally assumed that the rich would prefer risky investment. However, according to this report, 80 percent of the interviewees prefer investment with medium or low risk.

Liu Zhishuo, who did not unveil his wealth, defines himself as a conservative investor. He is a very cautious investor in high technology. Liu said he’ll invest if a company’s value could increase progressively in one or two decades. “What I care is long-term value. I don’t make short-term investment,” he said. In Liu’s opinion, to seize opportunities needs years of experience instead of good luck. There’s less chance to get quick fortunes nowadays.

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The total amount of web shopping in 2008, 120 billion yuan, has risen to a new height and it was 128.5 percent higher than that in 2007.

Liu Zheng, senior consultant from Beijing-based SDR Consulting Company, showed his opinion that E-business had played an essential role in web shopping with strong impact even in such big cities as Shanghai, Beijing and Shenzhen, which were the representatives of the offline shopping world.

“Comparatively prosperous cities such as Shandong and Jiangsu are obvious to have turned to be the major areas of online shopping with users of Taobao.com in these areas taking up more than 70 percent of all in China,” he added.

It’s said that 55 percent of the online shoppers are male whose favorite goods to consume are electronic products.

For Xiaogao, a 27-year-old Shanghai dweller, shopping online was her first choice, even though there were several large shopping markets nearby. She believed that web shopping, as a new lifestyle, was coming into being, and she would at least shopped on the Internet once a week. She also gave another main reason for her choice – the favorable prices. “Web shopping serves as a kind of means that makes life easier by cutting the traffic fees,” she said, “I am forming a habit of shopping online and try to make larger expense.”

“There are an increasing number of people shopping online around the country who choose the Internet for the sake of the wide range of goods with great value and simple process to gain. And such online activity will not be stifled by the current economic downturn.” Liu Zheng added.

For the time being, Taobao.com maintains the top in web shopping for its overwhelming market shares which is 82.2 percent of all. And PAIPAI.com is ranked the second with 9.9 percent market shares, while eachnet.com the third with 7.9 percent.

However, the report said that there existed insufficiency in web shopping. The very ones that shoppers complained about most are the disparity between the picture and the object received, and also the back order.

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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An MIIT official said they are discussing the report but no conclusion has appeared. His team is waiting for industry figures from last year and will decide whether to propose the stimulus plan a few weeks after that.

It was reported by the Shanghai Securities News, the China Electrical Equipment Industrial Association is trying to persuade the government to cut taxes on lead-acid battery exports.

It is said that global economic recession has forced one third of Chinese battery exporters in Guangdong, Fujian and Zhejiang provinces to stop production. About half of Chinese battery exporters are said to be considering a move to foreign markets such as India and Vietnam where will cost less. The imminent move will probably lead to 200,000 layoffs.

However, the MIIT official said China’s battery industry is better than the reports. The export figures show that from September to November last year, China’s battery industry did not drop so much as the estimation.

Lead-acid batteries are mainly used in autos and motorcycles, the products of which have been cut down significantly by the global financial crisis.

MIIT figures show China’s battery exports increased 17.6 percent in the first 11 months of 2008. But the growth was 4 percentage points lower than that of the first 10 months.

Wang Zhengjie, general manager of Neata Battery Manufacture, a lead-acid battery company in Zhongshan, Guangdong province, said he has cut about 120 of his 350 employees this year to tackle with the shrinking demand. He expects the unfavorable market situation could help him surmount smaller competitors rather than the government providing any help.

China, the world’s largest battery producer, cancelled 15% export refund on tax in 2006 to damp down the country’s overheating passion on high energy-consuming enterprises investment. But experts forecast that the move, as well as RMB appreciation and increasing raw material prices, has forced Chinese battery manufacturers to suffer half more costs than their foreign competitors.

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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Solar energy tycoon Peng Xiaofeng, with a personal wealth of 27 billion yuan, was No4. He was No6 on last year’s list.Shi Zhenrong, another solar energy developer from Jiangsu province, soared up to 8th from 25th last with a personal wealth of 21.5 billion yuan.Totally, there were 22 solar energy tycoons listed, compared with 9 last year.

The report says that their achievement proves China’s ability and potential in alternative energy exploitation.

On Monday, the list’s top 3 were revealed by the publishers. They respectively were 39-year-old appliance and property developer Huang Guangyu, steel tycoon Du Shuanghua and last year’s No 1 Yang Huiyan.

As the gloomy situation sustained in the stock and property markets, more than half the China’s richest suffered the wealth loss-by 22 percent from last year on average- while 20 percent made some small gains.

Despite, China still has 101 billionaires and listed 1,000 or more names with more than 700 million yuan personal wealth.

88 woman entrepreneurs were listed.0.7 percent more than last year.

The youngest billionaire was 20-year-old Wu Qun coming from Jiangsu province. He runs a medical firm with his father and now is worth 1.1 billion yuan.

The oldest was Yu Pengnian who is currently worth 2 billion yuan. He is a property and hotel tycoon.

Yu is also the most generous billionaire who has donated more than 300 million yuan for the healthcare and education sector until now.

Yao Ming, the NBA star, ranked 987th with a personal wealth of 700 million yuan. He earned $15 million from the 08-09 sports season besides advertising incomes.

Most billionaires spring up from Zhejiang, Guangdong and Jiangsu provinces, while most made their headquarters in Guangdong, Zhejiang, and Shanghai.

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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However, according to the report, the city was also facing a shortage of resources and manpower that might affect its future development.

The institute studied the competitiveness of 289 cities in terms of their business and financial market development, educational levels and technological advancement, among other things. Shanghai and Beijing came in second and third.

Hong Kong also took the top spot for being a world-class cosmopolitan city, followed by Beijing and Shanghai.

It was said that Beijing’s international image had been strengthened through the process of preparing this year’s Olympics. The cooperation between Hong Kong and Shenzhen won praise as the most outstanding example of how cities can collaborate to aid their mutual development.

The SAR government was also named the country’s most honest.

Institute chairman Gui Qiangfang said though Hong Kong was unlikely to lose the top spot any time soon, but the city could not afford to rest on its laurels as it had fallen from fourth place in 2006 to sixth last year for competitive growth.

He said the latest findings did not indicate Hong Kong’s competitiveness was declining, but rather how the development of other cities had intensified.

He added that Hong Kong needed to maintain its own legal system and free economy, and cooperate with mainland cities in hi-tech industries to offset the impact caused by its shortage of resources and manpower.

Institute vice-chairman Raymond Tse urged mainland authorities to relax the restriction on capital flows to Hong Kong. “Hong Kong will benefit a great deal if it can absorb capital from the mainland,” he said.

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.