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.