China’s economy could be 2.5 times that of the US by 2030, based on Japan’s experience and the yuan’s appreciation against the greenback, a senior Chinese economist says in Harvard Business Review’s Chinese edition. The forecast by Justin Lin Yifu, head of Peking University‘s China Center for Economic Research and recently appointed chief economist of the World Bank, in the May issue of the magazine published on Thursday is one of the most ambitious for China’s economic growth…
Tag: Japan
According to the China’s National Bureau of Statistics report — 2007 national economic and social development statistical communique — China’s total number of privately-owned vehicles increased 32.5% to 15.22 million. The communique points out that by the end of 2007, the total number of civilian vehicles reached 56.97 million (including 14.68 million three-wheel motor vehicles and low-speed vehicles): a growth of 14.3% over the previous year. Among them, 35.34 million are private cars: an increase of 20.8%. There are 19.58 million civilian cars, an increase of 26.7%, 15.22 million of which are private cars.
China may produce more than 8.6 million vehicles this year as it narrows the gap with Japan and the United States, the world’s top two auto makers, according to the National Bureau of Statistics. China’s economic growth, averaging about 10 percent over the past five years, is raising demand for automobiles and has boosted production from about 100,000 vehicles a year in the 1980s to 7.28 million last year, making the country the world’s third-biggest vehicle producer […]
The cost of living in Shanghai is catching up with more expensive locations in the region such as Hong Kong and Taipei, according to the latest global cost of living survey. The ECA cost of living survey listed Shanghai in 100th place among the top 300-plus most expensive cities in the world, up 23 spots from last year. Shanghai was also one position higher than Singapore among Asian cities, which ranked at 122nd place globally, according to the report.
Alibaba.com, the largest business-to-business portal in China underwent its first day of public share trading in Honk Kong, and the results exceeded all expectations, as the price tripled, raising $1.5 billion. The public offering is expected to raise nearly $2 billion in Hong Kong, making its debut offering as large as Google’s 2004 I.P.O. in the United States. ‘We are pleased to welcome investors from Hong Kong and around the world to join us in building a world-class e-commerce company,’ said Jack Ma, non-executive chairman of the company and chairman and chief executive officer of Alibaba Group…