Foreign Investors Look To China’s Underserved Interior For New Opportunities For Expansion, Tapping Vast Potential
China's coastal east has benefitted most from the country's 30 years of dramatic growth. But the inland west may be catching up (albeit slowly)
The images that many in the world conjure up when thinking of 21st century China are a mixed bag of glittering metropolises (concentrated in the coastal east) and ancient sites like the Great Wall and Forbidden City. But these two extremes really don’t paint an accurate picture of the country as a whole, which is both vast and by-and-large underdeveloped. Although the Chinese government has worked to improve infrastructure and build up the country’s inland areas through the ongoing “Go West” campaign and stimulus spending, many smaller urban areas in China remain untapped resources for domestic and foreign investors looking to build their brands or expand their current operations in China.
This week, the Global Supply Chain Council looks at several areas in China likely to become prime targets for foreign investment, as inland regions are further developed and median incomes grow. According to their findings, areas like the Midwest and even the restive Northwest are “blank slates” with real long-term potential:
Xinjiang, China’s largest autonomous region and a former key stop on the ancient Silk Road, has once again become a choice of investment in recent years despite simmering ethnic instability.
The giant French retailer Carrefour Group pioneered the trend, becoming the first multinational company in the region when it opened one of its supermarkets in Urumqi in 2004. Even as the region recovers from a recent ethnic clash on July 5, government newspaper People’s Daily reported that Jean Luc Lhuillier, vice-president of Carrefour China, said the group plans to invest more in Xinjiang.
Posted in Business, China, Economy, Investment
Tagged China, chinese, chongqing, go west, sichuan, stimulus, stimulus spending, xinjiang
Six Cities – Tianjin, Guangzhou, Shenzhen, Chongqing, Chengdu and Wuhan – Expected To Join The “Megacity” Ranks, With Real Urban Populations Exceeding 10 Million, In Next 15 Years
Six cities should join the ranks of "megacities" like Beijing and Shanghai in the next 15 years. Who will cash in on the new opportunities that will arise?
One of the greatest engines of China’s rapid economic growth has undoubtedly been the massive in-migration of the rural population into the wealthy coastal area. Although this influx has slowed, and even reversed somewhat, as a result of the global economic slowdown, for China’s major cities, its cosmopolitan centers, urban population growth is expected to continue growing for at least the next 10-15 years. As China’s top-tier cities, Beijing and Shanghai, become even more competitive and second- and third-tier cities present young professionals with better job options, the rank of Chinese “megacities” — cities with populations exceeding 10 million — are expected to be joined by six cities: Tianjin, Guangzhou, Shenzhen, Chongqing, Chengdu and Wuhan. According to a post today on FT’s Dragonbeat blog, the rise of the new Chinese megacity will present new challenges for urban planners. However, I think they will also present unique opportunities.
Tom Miller writes for the Financial Times:
Posted in Art, Automobile, Business, China, Culture, Economy, Investment, Luxury
Tagged beijing, chengdu, China, chongqing, growth, guangzhou, Investment, Luxury, megacity, second-tier, shanghai, shenzhen, suburb, tianjin, urban planning, wuhan
Recent Acquisitions by Museums and More Interest From Local Collectors Running in Parallel
Wang Qingsong - Can I Cooperate With You?, 2000
While some art critics only see doom and gloom ahead for art markets around the world, it looks like there are pockets of good news for a handful of contemporary artists and art buffs.
Sichuan Province’s Chongqing News recently did a story on the Chinese art market , through the lens of how the global economic slowdown has brought down the price of nearly everything in China, from real estate to automobiles, and how this dive in prices has extended even to the realm of contemporary works of art. At this moment, the consensus seems to be: If you have the money, you might as well buy as much of this stuff as you can now, since
prices are going down (though [not as much] for the big names), and it could be a good time to invest.
Posted in Art, Business, China, Chinese Art, Culture, Investment, Luxury, Museums
Tagged Art, auction, China, Chinese Art, chongqing, getty, getty museum, hong kong, j. paul getty museum, los angeles, moma, news, sotheby's