Ming Wei Real Estate Investments

The world has grown accustomed to China being one of the most powerful engines of the global economy. It has maintained a growth rate of more than 10% for five consecutive years while keeping inflation relatively low. Gross domestic product (GDP) increased to Rmb2466bn ($347.79bn) last year, bringing China ever closer to overtaking Germany as the world’s third largest economy. Exports grew by 25% in 2007, imports by 20.8% and foreign direct investment rose 13.6%. Profits at industrial companies rose almost 40% in 2007, the growth in fixed asset investment was up by 24.8% on 2006. The Banker, 7 April 2008.

China is certainly maintaining the sort of growth rate that we, personally, in the UK have never experienced and probably never will. Ordinary Chinese citizens are getting rich at an unprecedented rate. The Chinese authorities have to cope with economic problems (like a huge trade surplus) that will never keep Gordon Brown or Alistair Darling awake at night.

As the South Gate of China, Guangdong has been opining to the outside world for a long time. In Deng Xiaoping's inspired policy of 1978, three special economic zones, Shenzhen, Zhuhai and Shantou were created. Since then, Guangzhou, Zhanjiang, the Zhujiang (Pearl River) Delta areas and the whole coastal regions, amounting to more than 100 ports, have been opened. This has resulted in a rapid development of industry. The agricultural sector which is concentrated in the production of rice and fruit growing and fishing, has also grown rapidly the collective farm policy was abandoned in the early 80s.

Containerized export is very important: ocean-going ships can travel from Guangzhou or Zhanjiang to South East Asia, Africa, Europe and America, and more than 40 ports in Shanghai , Dalian, Tianjin, Qingdao, Nantong, Ningbo, Yantai, Fuzhou, Xiamen, Wenzhou and Beihai. Moreover Guangdong is one of the few provinces in China where the highways have been developed into a viable network serving the whole province. There are four railways: Beijiang to Guangzhou, Guangzhou to Jiulong, Guangzhou to Maoming and Litang to Zhanjiang.