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Operating in China

Operating in China. Yong Zhang, Ph.D. Hofstra University April 25, 2007. Chinese Economy at a Glance. GDP (purchasing power parity): $10 trillion (2006 est.) GDP (official exchange rate): $2.512 trillion (2006 est.) GDP - real growth rate: 10.5% (official data) (2006 est.);

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Operating in China

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  1. Operating in China Yong Zhang, Ph.D. Hofstra University April 25, 2007

  2. Chinese Economy at a Glance • GDP (purchasing power parity): $10 trillion (2006 est.) • GDP (official exchange rate): $2.512 trillion (2006 est.) • GDP - real growth rate: 10.5% (official data) (2006 est.); • 11.1% first quarter 2007 • GDP - per capita (PPP): $7,600 (2006 est.) • GDP - composition by sector: Agriculture: 11.9% Industry: 48.1% Services: 40%

  3. Communication • Telephones - main lines in use: 350.433 million (2005) • Telephones - mobile cellular: 437.48 million (2006), 480 million (April 2007) • Internet hosts: 232,780 (2006) • Internet users: 123 million (2006)

  4. http://chinese.wsj.com/gb/20070412/bch204946.asp • 中国超越美国成为世界第二大出口国 • 2007年04月12日20:45 • 世界贸易组织(World Trade Organization, 简称WTO)周四发布的数据显示，中国在去年年中超越美国成为世界第二大出口国，而且中国的出口还在强劲增长。WTO发布了2006年第一批全球贸易统计数据。数据显示，去年中国出口增长27%，增幅超过了其他所有主要贸易国。虽然从去年全年来看，中国的出口总量落后于德国和美国，但在去年后六个月中国一举超越了美国，而且几乎可以肯定的是，2007年中国的全年出口量将超过美国。如果保持目前的增长速度，中国有望在2008年超越德国，成为全球第一大出口国。

  5. The Increasing Share of Chinese Exports since 1986 - (BA-CA) • 中国在1986年时占世界贸易的比例为1.6%，90年代中上升到4.6%，今年将达到9.4%; • 美国86年时占11.3%，90年代中为12.7%,今年将跌至8.9%; • 德国86年时占9.8%，90年代中为9.4%，今年将跌至8.8%； • 日本86年时占9.7%，90年代中为9.0%，今年将跌至6.0%。

  6. Data by Austrian Credit Bank (BA-CA) 1986 1995 2007 • China 1.6% 4.6% 9.4% • USA 11.3% 12.7% 8.9% • Germany 9.8% 9.4% 8.8% • Japan 9.7% 9.0% 6.0%

  7. China’s Current Account Surplus • In 2006, China had the largest current account surplus in the world - nearly $180 billion.

  8. China’s Economy – Flashback • China's economy during the last 30 years has changed from a centrally planned system that was largely closed to international trade to a more market-oriented economy that has a rapidly growing private sector and is a major player in the global economy. • Reforms started in 1978 with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, increased autonomy for state enterprises, the foundation of a diversified banking system, the development of stock markets, the rapid growth of the non-state sector, and the opening to foreign trade and investment. • China has generally implemented reforms in a gradual fashion, including the sale of equity in China's largest state banks to foreign investors and refinements in foreign exchange and bond markets in 2005. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978.

  9. Threats to China’s Economic Development • In per capita terms, the country is still lower middle-income, and 130 million Chinese fall below international poverty lines ($1.08/day). • Economic development has generally been more rapid in coastal provinces than in the interior, and there are large disparities in per capita income between regions. • One demographic consequence of the "one child" policy is that China is now one of the most rapidly aging countries in the world. • Another long-term threat to growth is the deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the north. China continues to lose arable land because of erosion and economic development.

  10. Continued • The 11th Five-Year Program (2006-2010), approved by the National People's Congress in March 2006, calls for a 20% reduction in energy consumption per unit of GDP by 2010 and an estimated 45% increase in GDP by 2010. • The plan states that conserving resources and protecting the environment are basic goals, but it lacks details on the policies and reforms necessary to achieve these goals.

  11. Reasons for Manufacturing in China • Low labor costs: • 10 to 40% of U.S. unit labor costs • Market access: • Huge, and growing consumer base • Global web of operation • Feed into value chains in the region

  12. GM, Ford, and VW in China • BBC中文网/美国通用汽车和福特汽车公司星期一（1月8日）表示，通用和福特汽车公司2006年在中国市场的销量大幅增长 • 美国最大的汽车制造商——通用汽车表示，该公司去年在中国共销售了876，747辆汽车，比2005年上升了32% 该公司旗舰产品“别克”轿车在华销售数量增长了24.9%，达304，230辆 • 福特汽车公司则表示，该公司包括福特、林肯、捷豹、路虎和沃尔沃在内的各种品牌汽车2006年中国市场销量增加86.6%，达166,722辆，是迄今为止福特在中国销售最为强劲的一年 福特汽车的声明说，2006年福特品牌汽车在中国的销量增加73,306辆，达155,404辆，增幅为89.3% • 德国大众汽车公司周一也宣布，上海大众汽车公司的销量约为352，000辆 一汽大众汽车公司的销量约为350，000万辆

  13. Motorola in China • http://www.motorola.com.cn/ • Cumulative investment by 2003: $3.4 billion • Motorola is the largest foreign investor in China’s electronics industry with more than 9,000 employees in China. Since coming to China in 1987, Motorola has made its commitment to China a long-term strategy. By the end of 2005, Motorola’s total investment reached US$3.6 billion. • Motorola’s commitment to China continues to increase, showcased in part, by its venture investment program. These investments are expected to bring much-needed funding, technology and management know-how to local Chinese entrepreneurs.

  14. Intel to invest in China • Intel has announced that it will open a wafer fabrication facility in China, a significant milestone in the chip giant's manufacturing history. • The plant will be located in an industrial rust-belt hub in northeast China called Dalian in the Liaoning Province and will cost around $2.5 billion to build. The Chinese government is providing financial incentives to Intel, according to company spokesman Chuck Mulloy, and has built up the infrastructure around the city. • Chips will start coming out of the factory in the first half of 2010. Initially, Intel will make chipsets--which shuttle data back and forth across the processor to the microprocessor of the computer--and possibly communications chips.

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