Shenzhen in the 1970s was but a small village. Its metropolitan cityscape is the result of the vibrant economic growth made possible by rapid foreign investment since the institution of the policy of “reform and opening” establishment of the SEZ in the late 1970s. Both Chinese and foreign nationals have invested billions in the Shenzhen SEZ. More than US$30 billion in foreign investment has gone into both foreign-owned and joint ventures, at first mainly in manufacturing but more recently in the service industries as well. Shenzhen is now reputedly one of the fastest-growing cities in the world.
Shenzhen continued to top the list of the most innovative cities on the Chinese mainland this year, followed by Suzhou and Shanghai.
Shenzhen continued to top the list of the most innovative cities on the Chinese mainland this year, followed by Suzhou and Shanghai, according to the latest list of the 25 Chinese mainland cities with the strongest innovation capabilities released Monday by Forbes China.
with the municipal GDP of above RMB 43.6 billion yuan (US$6.84 billion) in 2010
also the number of patents newly applied for (per capita and total number)
the proportion of sci-tech expenses to local fiscal expenditures (including expenses on trial development of new products, intermediate experiment allocations and subsidies for important scientific research projects).
In 2010, the value-added of Shenzhen’s high-tech industry rose 17.1 percent to RMB 305.9 billion yuan, while the total output value of high-tech products made in Shenzhen hit about RMB 1.02 trillion yuan, with 60.1 percent contributed by products with independent intellectual property rights.
The Yangtze River Delta region retained its predominant status this year, with 15 cities edging into the list. Jiangsu province alone has 11 cities included. Five cities from the Pearl River Delta moved up into the list, while no cities from Western China appeared there.
Statistics show that China’s smaller cities are amazingly eye-catching for their innovation capabilities with more than half cities on the list being county-level and prefecture-level cities. Of the top ten, there are 4 county-level cities: Wujiang, Kunshan, Changshu and Zhangjiagang.
The report, which defined the wealthy as people with at least $US1 million in net assets (excluding their homes, collections, consumer and durable goods), said the wealth of Asia-Pacific rich surpassed Europe as early as in 2009 and increased 12.1 percent to US$10.8 trillion last year, compared with Europe’s US$10.2 trillion.
In the Asia-Pacific region, real estate and equities investment still made up the primary choices for the rich last year, with 27 percent choosing housing market, far higher than the global average of 19 percent.
The report also predicted that the Asia-Pacific wealthy will beef up stock and fixed-return investment while reducing holdings of cash and deposit from 2011 through 2012.
While economy stumbles globally
The rich & famous have cash to splash around still.
Whatever you may possess, you are but a custodian . . . for nothing really ever belong to anybody in terms of time & space . . . eternity! We are but passing ships that sail through the night. With each dawn, there’s the new port of call . . . everything is in transition – nothing of permanence.
But the land will be there for all times & throughout eternity. Many a great general in historical past, or like the Trojans or the Romans, ALL have come & gone. What’s sense is there to fight & dare . . . to invade & dominate ?
Let’s co-operate & share with one another for the benefits of all!
By Paul Chong Sunday, 29 November 2009 A Chinese By Descent, An Australian By Consent
China can boast of its silk and tea culture long before any other country in the world. Even the technological plough was first discovered in China. By and large, all discoveries were directed towards peaceful use and the enrichment of life and culture, as with the gun powder. Now the world is witnessing an unprecedented quantum growth in China – all within one generation!
China Foreign Reserve World No. 1
China Oil Consumption World No. 2
China Trade Value World No. 3
China Economic Output World No. 4
Latest: China is the richest nation in the world.
‘Xiang Qian Zou’ – The Road To Riches
Of the nations in the world today, China stands out progressively tall and strong. It is as though a sleeping dragon is finally awakened. This appears to be the fear of the West. Though an economically strong China is good commercially for all the trading nations in the West, politically China poses a great threat. It is feared that “once China stands up, it won’t topple or be toppled.” That was why precisely Napoleon in his wisdom decided to let China be and not to rouse her.
In retrospect, China is undoubtedly the world’s greatest civilised nation over a continuous period of thousands of years – a civilisation undiminished and unbroken, unlike past civilisations like Egypt, Greece, or the Romans. By any reckoning, China should have by now be far more superior than the rest of the world. Why not?
Of the many reasons why China did not progress beyond its initial lead in technology and discovery, the main cause of which can largely be attributed to its inward looking policy . . . viewing all territories outside the Great Wall of China and its boundaries as barbaric in nature. This nationalistic pride and closed door policy led to its seclusion, totally depriving itself from the inter-change of ideas and exposure to new scientific developments and industrial growth. While China lavished in its culture, philosophy and essentially non-materialistic form of development, it began to lag behind the West in terms of economic industrial growth. In preserving its civilisation from being tainted by corruption, disruption and deterioration, it never knew new growth, development and discoveries elsewhere in the whole wide world. The “Middle Kingdom” realised too late the encroachment of other nations upon its shores and territories. Countries like Britain, Portugal, Japan were making inroads into China through modern superior arms of war instead of its age-old “kung-fu”.
To grow, to progress is to change. Sentiment must give way to progress. There is no room for inhibition to changes. Change needs to take place before growth and progress can be attained. It’s attitude more than aptitude that scales the altitude. Mr. Lee Kuan Yew, the great former prime minister of Singapore, is credited for the great strides achieved by the City State. His visionary ideas have no room for inhibition or sentiment to change or any hindrance.
Now, what a change has come about as a result of Deng Xiao Ping’s visionary concept of “Xiang Qian Zou”. In Mandarin, it means “Forward Move”, but by replacing the middle word with the similar pronunciation, it becomes “Moving Forward With Money”. This started a great frenzy for the Chinese striving for monetary progress in all spheres of work and life. China has made a quantum leap – a country virtually with no phone to the modern technology of mobile phones! But capitalistic way of life does have its price. A single generation can witness the most remarkable change & progress. Transformation just sweeps aside all inhibition, resistance and sentiment.
Greed always breed a profound loss of goodness in mankind. Simple honesty, truth, kindness and compassion are lost in the process. The dollar sign is etched prominently on the foreheads of goal-getters. It is evident to an outside observer that the whole civilisation is transformed overnight. China, in its forward economic stride, has done away with its traditional large families, and its door is wide open to the corrupt western way of life. There is a price to be paid, for consequential results cannot be avoided.
Like most economies in the world, the road to riches often affect those who are involved, largely the urban folks, leaving behind a vast majority of the rural peasants. Even then great disparity may result among the urbanites. Encouraged by the concept of “Xiang Qian Zou” and ‘you’ve got to be in it to benefit it’, waves and tides of migrating movement are emptying the youth from the rural and pastoral areas. China is vast country where hundreds of millions of the peasant still labour and toil and are poor by comparison with the urban rich. No doubt, this is creating a set of social chaos unknown before.
Hong Kong, for instance, is a magnetic attraction for mainland Chinese. Tens of thousands cross the border which still has the immigration formality with number restrictions. In 2002 this number has been lifted and the hours of opening has even extended to 12 mid-night. This is largely due to the fact that the constant stream of exchange of people movement just keep on going growing bigger and bigger. The benefits work both ways. The affluent mainland Chinese pour money into Hong Kong, and the Hongkees likewise do the same in respect of investing in cheaper and more attractive housing in Mainland China.
On the more positive & human well being aspects, China has done itself proud by alleviating poverty for the great mass of the population. Consider this report by World Bank: “China has maintained a high growth rate for more than 30 years since the beginning of economic reform in 1978 and this growth has generated a huge increase in average living standards.
China’s sustained growth fueled historically unprecedented poverty reduction. Based on household surveys by the World Bank, the poverty rate in China in 1981 was 63% of the population. This rate declined to 10% in 2004, indicating that about 500 million people have climbed out of poverty during this period.’
Update & in a lighter vein:
China, now second largest economy in the world, has 19% of the world’s population, but consumes
. . . 53% of the world’s cement
. . . 48% of the world’s iron ore
. . . 47% of the world’s coal
. . . and the majority of just about every major commodity.
In 2010, China produced 11 times more steel than the United States.
New World Record: China made and sold 18 million vehicles in 2010.
China currently has the world’s fastest train and the world’s largest high-speed rail network.
China is currently the number one producer in the world of wind and solar power.
China currently controls more than 90% of the total global supply of rare earth elements.
In the past 15 years, China has moved from 14th place to 2nd place in the world in published scientific research articles.
China now possesses the fastest supercomputer on the entire globe.
As at the end of March 2011, China has accumulated US$3.04 trillion in foreign currency reserves- the largest stockpile on the entire globe.
Chinese consume 50,000 cigarettes every second …Not an enviable record though …
And here is the secret to the Chinese miracle: There are more pigs in China than in the next 43 pork producing nations combined.
So it is PORK that is driving China !! ENJOY YOUR PORK !
Now . . . you know why we eat “bak kut the” to be one in spirit with our China cousins.
Your comments are invited.
What problems do you envisage for China in this economic crisis?
How would the rest of the world, particularly US, react or act towards China?
What role do you think that China is likely to play on the world stage?
Do you think that China would follow the path of US & change its basic peaceful co-existence policy?