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 […]
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With the opening to new markets and the growth of the Chinese economy, a new social class has emerged — to some extend, unthinkable in a Communist China: the millionaires. According to a survey from Cap Gemini/Merrill Lynch, the number of millionaires (in US Dollars) in China have reached more than 230,000. The large majority of these new riches choose Shanghai to invest their money and also spend their money…