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Seven Extraordinary Facts About China's Economy
December 13, 2010 01:05 PM
Last week, HSBC's expert on China, Zhang Zhiming, released a
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.
No positions in stocks mentioned.
AMAZING FACTS ABOUT CHINA
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