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Seven Extraordinary Facts About China's Economy

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CHINA!
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Last week, HSBC's expert on China, Zhang Zhiming, released a 244-page report on China from a "bottom up" perspective. The report uncovered some remarkable statistics. Below are seven:

1. By 2020, China will have six provinces with an annual GDP of more than USD1 trillion, equal to sixcountries the size of Russia (or Spain or Canada).

2. With 47% of the population now living in cities, eight Chinese cities have a population of more than10m, and 93 have more than 5m. By comparison, in the US only New York City has a population of more than 5m.

3. Beijing, China’s Washington DC, is also China’s Silicon Valley. Its Zhongguancun area saw 23 high-tech IPOs in 2009, against just one for Silicon Valley. There have been another 35 IPOs so far in2010.

4. Kunshan, one of 2,000 county-level cities, produces more than half of the world’s notebook PCs, or85m units – and yet IT manufacturing is not even its top-ranked industry.

5. Suzhou, one of 280 prefecture-level cities, has a per capita GDP which is 70% and 46% higher thanBeijing and Shanghai, respectively.

6. Jiangsu, a province little known to outsiders, is poised to overtake the much better-known southernprovince of Guangdong to become China’s largest provincial economy as early as 2012.

7. The 1.5m inhabitants of Erdos, a city rich in natural resources in the otherwise poor western part of the country, will have a higher GDP per capita than Hong Kong in three years time.
In addition, the report contained a fascinating breakdown of China's GDP, by provinces, compared to countries with similar GDP. Below is the current comparison... and after that, projections for 2029.



POSITION:  No positions in stocks mentioned.

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