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.

From the SCMP
by Mark O'Neill
Apr 11, 2008

Here your apartment costs a tenth of that in Hong Kong and one-fifth
of that in Macau," said property agent Zhang Huangyuan. "Since they
announced the building of the bridge, we have not had one day off."

Mr Zhang sells properties in Huafa Century City, a development of
800,000 square metres, seven minutes' drive from the spot where the
Hong Kong-Zhuhai-Macau Bridge will arrive in Zhuhai . "The apartments
in this phase cost 10,000 to 11,000 yuan (HK$11,140 to HK$12,250) per
square metre and we have sold over 90 per cent of them. The buyers are
local and from Hong Kong and Macau," he said.

In Zhuhai, developers and property agents are jumping for joy over the
planned 42 billion yuan bridge linking the city with Hong Kong and
Macau. They see it as the best way to sustain for years a boom that
drove sales of commercial property up 130 per cent last year.

Also delighted is the city government, which first proposed the bridge
in 1983, although it no more has the money to pay for it now than it
did then. It sees the bridge as the final piece of a jigsaw to link
the city by rail and road to the rest of China.