China’s emerging middle-class buyers were set to generate significant spending power in coming years as more people wanted to buy “affordable luxuries,” according to marketing advisers in Hong Kong. The trend would be seen in not only first-tier cities like Shanghai and Beijing, but also their satellite towns and second-tier cities, the advisers told a recent business forum […]
Category: Economics
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Shanghai will accelerate urban infrastructure construction with a total investment of 500 billion yuan (US$73.22 billion) through 2010. The massive capital injection was a way to boost internal demand and increase the chances of stable economic growth amid the global financial turmoil, the city’s construction and transport authority announced recently […]
In 2007, China’s total tourism revenue reached 1,09 trillion yuan (over 148 million US dollars), exceeding one trillion yuan for the first time. China now has one of the largest tourism markets in the world, said Wang Zhifa, deputy director of Chinese National Tourism Administration.
Autodesk has just released it’s sustainability report, which is designed to encourage the develop of a community of innovators in the area of sustainability. This report describes how 3D digital modeling technology enables designers to innovate in ways that save energy and optimize materials use. It also highlights Autodesk’s collaboration with the U.S. Green Building Council, American Institute of Architects, Designers Accord, and sponsorship of the documentary series e2: the economies of being environmentally conscious.
A total of 281,000 jobs were created in Shanghai in the second quarter of 2008, while the number of job hunters reached 299,000, a report released recently shows. The jobs were provided by 22,000 companies, according to the analysis of the city’s human resources by the Shanghai Labor and Social Security Bureau. Compared with the same period last year, job supply has increased 20.7 percent, the report said…
China’s dot-com economy grew nearly 63 percent year on year in the second quarter, despite increasing inflation and the effects of the Sichuan earthquake, a Shanghai-based research firm reported recently. Revenue generated by China’s online search, game and travel providers reached 13.32 billion yuan (US$1.94 billion) in the April-to-June period, iResearch said…
China’s auto imports grew rapidly in the first half, as world auto giants turned to the Chinese market after the U.S. economic slump and rocketing oil prices drove sales down on U.S. and European markets, the Chinese General Administration of Customs said recently. From January to June, China bought 212,000 motor vehicles from abroad, up 53.2 percent from the same period of last year. The growth rate was 18.3 percentage points higher than the year-earlier level…
China, the world’s largest cell phone exporter, is expected to maintain momentum in both production and marketing of mobile phones in the remaining of this year, CCID Consulting said recently. The company predicted that China would produce 605 million cell phones for the whole of 2008, a growth of 16.9 percent over last year, and sell 205 million at home, up 17.55 percent. The foreign sales would amount to 400 million units, up 16.79 percent…
China’s mobile phone sales will be lower than expected after the May earthquake and a lack of state of the art applications depressed sales in the second quarter, a Beijing-based research firm said recently. CCID Consulting, a research group with the Chinese Ministry of Information Industry, cut its 2008 domestic handset sales forecast to 165 million units from 185 million units. ‘The handset market lacks innovations and the 3G market has only just started so many consumers have adopted a wait-and-see attitude,’ said Li Xuefang, a CCID analyst…
Chinese President Hu Jintao said on recently that his country will take substantial measures to cope with climate change. Hu made the remarks at the Major Economies Meeting on Energy Security and Climate Change, which gathered leaders from Australia, Brazil, China, India, Indonesia, Mexico, South Africa, South Korea and the Group of Eight (G8) nations at Toyako, a resort town on the northern Japanese island of Hokkaido…