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Future Development in Chengdu

Chengdu is a breathtaking city of over 15 million people in China’s southwest. Chengdu, the provincial capital of Sichuan, is one of the world’s fastest growing cities. The economic growth of the city in the last years is remarkable. It is a city which allows you to experience the rapid economic growth of the region as well as the more laid-back and calm side of China. Chengdu offers the perfect balance between modern influences and on the other side the traditional Chinese way of life which is amazing to experience as a foreign person. The city has a good mix of foreign and Chinese style conveniences so you can buy almost everything here you are used to back home and you will never feel homesick J. But you can try also tons of local places where you can eat, drink and buy daily necessities at a fraction of the Western cost. It never gets boring in Chengdu!
And there are many examples for the fast development of Chengdu.

Chengdu’s already existing Shuangliu International Airport, which was built in 1938, is even the fifth busiest airport in China and serves as a hub for inland China destinations. Anyways, Chengdu has now received the approval to build a 69.3 billion Yuan airport. The new airport in Chengdu will have three runways, capable of handling 40 million passengers upon its completion in 2025. Therefore, Chengdu will become the third major Chinese city after Beijing and Shanghai to announce a second airport which is an amazing economic growth factor for Chengdu!
Chengdu New Airport

Furthermore, the reconstructions of an industrial base for Chengdu in the Chengdu Tianfu New Area will provide new vitality and opportunities for the development of the economy in the Sichuan province and the western inland China in general. The Chengdu Tianfu New Area is a key zone for development with new-type city functions including science and technology, business, cultural administration, a modern manufacturing base and a high-tech industrial base.

And this is only little insight of Chengdu!

Come and see yourself how much this city has to offer. Chengdu is GREAT!!!

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Hengqin – the bright future of Zhuhai

The scale of the developments in the Pearl River Delta represents some of the strongest in the whole of China. Its geographic location makes it perfect for opening up to foreign markets and it is already attracting a great deal of international companies. One of the key projects that have been in development for 10 years and are about to be finished is on the doorsteps of Zhuhai – Hengqin Island.

Hengqin New Area is located on Hengqin Island in the south of Zhuhai, Guangdong province. It is just 200 meters from Macao, connected by bridges. It covers an area three times the size of Macao. In 2009 after a visit from President Xi Jinping the state council approved the implementation of the Overall Development Plan of Hengqin which incorporates Hengqin Island into the Zhuhai Special Economic Zone and represents the ongoing cooperation between Guangdong, Hong Kong and Macao under the policy of “One Country, Two Systems”.

Hengqin-island-master-plan

 

As seen above there are many projects in hand to be developed. They have been in construction from 2009 and some are due to be completed by 2016. We would like to show you the main projects.

Shizimen CBD – Central Business District

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Estimated investment in this project is around 100 billion Yuan. The aim is to create a Physical Platform amongst Guangdong, Hong Kong and Macao.  The CBD boasts the Zhuhai International Conference Center, International Expo Center, international standard grade-A office buildings, international standard five-star hotels and supporting facilities.  Industries such as finance and insurance, business service, business and trading, headquarters settlement will be covered and introduced from Hong Kong and Macao.

Hengqin Finance Industry Service Base

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This project will compose of 18 office buildings, 1 finance street service center and 1 catering center building. The base provides enterprises with independent, high-quality, garden-like offices and operational outlets with perfect supporting facilities. Two routes of free shuttles have been opened between Finance Street and the urban area of Zhuhai.

To date, more than 180 financial institutions have been introduced.

Chimelong International Ocean Resort

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Chimelong International Ocean Resort is a world-class, large, comprehensive tourism resort integrating leisure and tourism, a luxury hotel, business exhibition centre, tourism and shopping, and sports and entertainment.  It boasts the longest roller coaster, the highest Ferris wheel and the largest ocean park in the world.

Xiangzhou Culture Street

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The project was invested in by Zhuhai Jingfu Tourism Development with a total investment of around 1 billion Yuan. There are plans to create a large cultural, tourism project.  It will integrate an exhibition center, leisure, tourism, shopping and foods, using traditional folk craft and folk custom culture as theme.

Guangdong-Macao Cooperative Traditional Chinese Medicine Science & Technology Industry Park

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This serves as a demonstration of development cooperation between Guangdong and Macao.  It is an international TCM industry base, jointly planned, invested in and run by Guangdong and Macao. Traditional Chinese Medicine industry, Traditional Chinese Medicine health service industry, Traditional Chinese Medicine information industry and Traditional Chinese Medicine cultural industry will dominate the park to form an international science & technology industry cluster demonstration zone of TCM health care.

The New Campus of University of Macau in Hengqin Island

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The new campus was governed by laws of mainland China during the period of construction, and is governed by laws of Macao after completion of construction. It is one of the key projects of cooperation between Guangdong and Macao. The new campus consists of gymnasiums, libraries, 10 residential colleges as well as teacher and student dormitory buildings. It is linked to Macao by a 1.5km cross-ocean tunnel.

Combined Gas Energy Supply Project of Hengqin Island

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This project upon its completion will become a reliable and economical power supply for China Southern Power Grid to transmit power to Macao, and will form a new-type energy base covering the whole island featuring a combined supply of electricity and water.

The near future looks incredible for Zhuhai and its surrounding areas! Take a look at more articles in our Blog section!

 

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China’s outlook for 2015: The road ahead

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Christine Lagarde speaking at the world economic forum.

It’s been a tough year worldwide. There have been international conflicts emerging, shaking our hopes of progress in the globalized era. There was a sharp drop in oil prices that has still yet to take its toll on the global economy. There was the risk of Europe falling into another recession and the general slowing of Asian economies.

While we heard some murmers of “optimism” and “consolidation” from the IMF and the World Bank, we look forward towards 2015 with hopes of improvement.

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Aside from the worldwide problems that will have a knock-on effect on China’s largely interdependent economy, China also faces its own domestic challenges.

  1. GDP per capita must eventually rise, considerably. Currently China is on the 93rd place in the world of GDP per capita. This means for the country that it needs to rise 32% to meet the world average. It needs to triple to equal the European average.
  1. The huge environmental issue. Some reports state that China cannot use some of its domestic natural resources such as coal, iron and others because it’s too dirty. This is one of the main challenges in China as from a pollution perspective, for example Beijing is becoming one of the worst cities to live in.
  1. Increase of income leads to larger consumption. The evidence of that could be seen on “Single’s day” which broke all records of purchases across the globe. China has always been regarded as the world factory for international markets but now more and more is consumed domestically.
  1. A rise in income also raises the real estate price that has led to a housing boom. It is a transitional change from lower to middle class society but it’s something China has to deal with in short term as the gap between rich and poor increases.
  1. Rising income also puts more strain on an export economy. Workers are demanding bigger salaries and better living and working conditions which pushes up the cost of the end product.  Countries are already sourcing products which require more involved handwork to other countries such as Vietnam where labour is cheaper.  Meanwhile the government struggles to keep the value of RMB low for its export industry in a country that’s clearly experiencing a boom.
  1. Consumers are more and more concerned about what they buy. Companies that produce for the domestic market are used to selling poorer quality products leading to massive brand loyalty. Better quality means better production standards countrywide and it’s going to cost.

All those indicators show that the economy in an ongoing process of change and evolution. GDP growth will remain steady around the 7% mark, impressive even if not the quite glory years of 2010 and before. Currently this resembles the progress of Japan in the 60s and Korea in the 80s.

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A growth of 7.4% is expected for 2014

China is rapidly changing and there are many internal issues that will come to light in the coming years. But it is inevitable to have a couple of bumps along a long road. The positive indicators are still flashing everywhere. The infrastructure is booming all around from small villages to the big cities. China is consistently investing a lot in its infrastructure in order to facilitate moving people from the country and into the cities. The increase of incomes is establishing a consumer oriented economy for the future. Small cities are seeing 20 to 30% growth. Savings rates are still very high but the government is planning reforms about this matter. Efforts are being made to try to ensure growth will be sustainable in the future, the epitome of a truly successful economy and a lesson harshly learned in Europe.

No matter the slowdown, China will still remain one of world’s biggest lenders. The Chinese Yuan will gain stronger positions towards the USD and the Euro.

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Find more interesting articles related to China on our LinkedIn page!

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Things to Know Before You Visit China

If you are interested in China, your friends may have asked you all kinds of strange questions but without fail the conversation always turns to “Do they eat dogs and cats?”.
The answer is: Eating dogs and cats is becoming unpopular.

Having the second largest economy and some of the most developed cities; in China people are starting to prefer to keep cats and dogs as pets. There may be some restaurants selling dog meat, but if you ask local Chinese people where to get dog meat, they may be surprised or offended.
The Chinese government and also several animal rights activists as well as animal rescue teams are trying to ban the dog meat festival held in China.

InternChina - Chinese kids and their dog
InternChina – Chinese kids and their dog
InternChina - chinese animal rescue
InternChina – chinese animal rescue
InternChina - Man with his dog
InternChina – Man with his dog

I’ve often heard about foreigners who were, so to say, pressured by their Chinese host family, coworkers or friends to eat a lot and to try lots of different dishes.
BUT what you need to know about Chinese culture is…

No matter how much they may be eager to accept food, drink or gifts, proper Chinese etiquette prevents them from doing anything that makes them appear greedy or overly eager to receive them, so if you should politely refuse a couple of times before taking it. The same goes for compliments.

The next step is to never drink alcohol without offering a toast! This not only shows your gratitude toward the host and your regard for the other guests, but it also prevents you from drinking too much too quickly. If someone toasts you with a Ganbei be sure to watch out, Chinese know how to put a foreigner under the table in no time.

Also don’t worry about accessing your favourite websites here in China, as you can always rely on a VPN to surf the net.

InternChina - Yes you can!
InternChina – Yes you can!

When you arrive at the airport in China, don’t be surprised because you won’t necessarily be the tallest person in the room. Chinese people are getting quite tall these days, due to diet and advances in nutrition.

And last but not least: Do you REALLY think every Chinese person do these sorts of Kung Fu moves?

InternChina - Everybody was Kung Fu fighting
InternChina – Everybody was Kung Fu fighting

Trust me, this kind of thing does not happen (often).

But I’m sure you will enjoy your stay in China as much as I am!!!

Rebecca

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