Weekly Review: Is 2008 Chinas Most Difficult Year?
Source: http://www.bizchina-update.com/content/view/1396/2/Posted on Sunday, September 28th, 2008 | In China
Contributed by: Biz China Update (http://www.bizchina-update.com) -
Chinese leaders do not claim to be great orators, and never make scintillating speeches. But Premier Wen Jiabao’s opening address to the World Economic Forum’s ‘Summer Davos’ meeting in Tianjin at least gave the official view of the challenges facing the People’s Republic as it enters its 60th year.
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As China continues to evolve into a global power, its economic structures are changing, new laws are being enacted and the government is seeking to re-channel the fruits of sustained growth from the eastern seaboard to the rest of this vast nation. Gateway cities, such as Beijing, Shanghai, Shenzhen and Guangzhou, now compete with cities across China for foreign and governmental investment.
Meanwhile, successful Chinese companies are raising billions of dollars from domestic and international IPOs, and the most ambitious are acquiring foreign companies from Santiago to Sydney and Stockholm to Saigon. The nation’s twin-barreled property and stock market frenzy has created 106 dollar billionaires, when in 2002 there were none.
China's unparalleled economic renaissance is impacting citizens of almost every nation, and timely, reliable information on commercial trends and developments is in strong demand. That’s why BizChinaUpdate was created: to provide business news and informed comment from trusted sources.
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