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China is the world’s most populous nation. By 2006 China's estimated population was 1,313,973,700. In terms of land mass, the total area of China is 9,571,300sq km (3,695,500 sq mi) including inland waters, it is about the same size as the United States, but its population is almost five times of the US. Approximately 60% of the people live in the rural area. Since 1979, China also has been implementing the family planning policy (one-child system) in order to maintain a low birth rate. This one-child policy actually allows for two or more children under some circumstances.
- Population of China: 1.31 billion
- Population of Chongqing Province: 31.1 million
- Population of Shanghai: 16.3 million (largest city and a major port in China)
- Population of Beijing: 14.2 million (capital/cultural center of China and 2nd largest city)
- Population of Guangzhou: 11 million (located in the Guangdong Province)
- Population of Shenzhen: 4.7 million (located in the Guangdong Province)
- Population of Hong Kong: 6.9 million (located in one of the Special Administrative Regions of China)
The Chinese government will continue to improve its legal system on population in an effort to work out laws and regulations to keep the country’s population below 1.4 billion people until 2010. These figures are based on official registered citizens. These figures do not take into account non-registered migrant workers. In terms of economy, China has top ranking on a number of global scales:
- Number 1 "Middle Class" urban consumers, etimated over 200 millions
- Number 1 destination for foreign investment (over $60 billions in 2004)
- Number 1 exporter to the US
- Number 4 world's largest economy (will surpass Japan in the next 5 years)
- Number 1 consumer of steel and oil, soon to be the largest manufacturer in the world
China grew at an average annual rate of 10.2% in the 1980s and by 9.4% annually during the period of 2000-2004. China enjoys strong economic growth for a number of years, growing more quickly than major G7 economies such as the US, UK and Japan since 1990 to make it become the highest growth rates in the world. In 2004 China's gross domestic product (GDP) was $1,931.7 billion. The size of the country's economy makes China a significant economic power; despite this, it remains a low-income, developing country because it must support a huge population of 1.31 billion. In 2004 China's per capita GDP was just $1,490. Industrial activity (manufacturing, mining and construction) contributes the largest percentage of the country's GDP, amounting to 46% in 2004. Transportation, commerce, and services together accounted for 41%. And agriculture, together with forestry and fishing, contributed 13%. Manufacturing, mining, and construction constitute China's industrial sector. China's manufactures are diverse and include such complex products as airplanes, ships, automobiles, satellites, electronics and modern industrial equipment. Besides, high-technology industries grew in importance starting from the mid-1990s. High-technology industries - such as software, computer, and other electronics production has been becoming economic importance especially in the early 21st century. The expanding high-tech sector received much of the foreign capital invested in Chinese industry. According to The World Bank, other indicators show rapid growth in the economy of China. Between 1990 and 2003, per capita household consumption expenditure rose by an annual average of 7.4%. Investment, measured by gross capital formation, grew by an average of 10.9% over the period. Consumer prices rose by an average of 6.0% over the period. In the past 20 years of foreign investment in China, it has seen some success but a lot more failures, particularly in the early years. The failures are mainly due to bad market assumptions, changing government policies and an often un-level playing field. The absence of a clear understanding and awareness of the cost, stress and risk to a company’s organization are also critical when doing business in China. |
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