Chinese frontiers – now and beyond

Katie Zhou
DiagAid Marketing Research Co., Ltd., People's Republic of China

Peter Cooper
CRAMQiQ Group, United Kingdom

May Qiu
CRAMQiQ Diagaid International, People's Republic of China

John Pawle
QiQ International, United Kingdom

Simon Patterson
CRAM International, United Kingdom

ECONOMIC GROWTH

It goes without saying that China is the major frontier market for the 21st century. Over the past 30 years, China's economy has averaged nearly 10% annual GDP growth, driven by combination of developing technology and a vast low-cost workforce. With a population of 1.3 billion (China Statistical Yearbook 2007), GDP of RMB 24,661.9 billion (US$ 3,617.85 billion) and growth rate of 11.4%, China's foreign exchange reserve reached USD 1528.2 billion and the total tax income is RMB 4,944.9 billion (US$ 732.74 billion), up by 31.4%. Per capita disposable income of urban households was RMB 13,786 (US$ 2,022.4) in 2007 (National Bureau of Statistics of China, 2007).