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INTRODUCTION TO STUDY IN CHINA
For many decades in the late 20th century, many outstanding
young Asians went to the West to pursue their higher education, to
learn more advanced knowledge and in search of better opportunities
upon graduation. While the West still leads the world today in many
key areas of technology and advanced knowledge creation, but opportunities
and conditions are catching up in many parts of China. The matured
economies and slow growth in the West are depleting opportunities;
even many Western young persons are coming East to build their lives
and career.
Quietly shifting is the growth center of the world towards Asia in
general and to China in particular; this megatrend has in fact inspired
strong flow of foreign investment to Asia and China, visionary business
leaders and entrepreneurs are seeking opportunities to grow their
businesses in the newly opened emerging markets of China. One scholar
observed that that "never have there been so many different nationalities,
different races have descended to one single nation at the same time
to participate in their modernization." This is what the excitement
about China.
For young persons, it makes sense to gain knowledge on contemporary
China as this knowledge will serve them well in their career and in
their lives in a world different from their parents, with China returning
to play an important role in the world. Mastering Hanyu, study, work
and live in China for some time will help them to understand and appreciate
the dynamics of the Chinese culture, and hopefully learn to decode
the cultural DNA of one quarter of humanity.
Invitation to the Opportunities in China: Study in China
> Click to view Presentation by Foong
Wai Fong, Director of Megatrends Asia
CHINA: HIGH GROWTH, HIGH NEEDS |
By 2008, China would have completed 3 full decades
of reform and opening. The changes brought about by this remarkable transformation
include the following:
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9.4% p a growth rate since, from 1978 to 2005,
share of global economy went from 1% to 4%, foreign trade went from
20.6b to 851b, which is the 3rd largest national totals in the world.
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| 2. |
Few hundred million people have been lifted out
of poverty, and several million has joined the middle class: Overseas
Students: In year 2004, 76,000 went abroad, and 73,000 are self
funding. In one decade (1992-2002) education expenditure went from
USD 6 billion to USD 42 billion.
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| 3. |
FDI totaled domestic non public investment more than 1 trillion
dollar. Over 6000 industrial parks in the country - the model
for FDI-led investment in manufacturing in China |
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| 4. |
China became the 3rd ranking most popular
destination in the world, receiving 91.7 million tourists
in 2003. Domestic travel hit new heights of 870 million in
2004, and in the week starting October 1st , 90 million travelled
and spent USD 4.2billion.
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| 5. |
Strong Foreign Reserve: China's foreign
reserves reached nearly USD 610 billion at the end of 2004,
up by +51 percent over 2003 (403.3b) --the big increase is
attributed to the strong expectation of the RenMinBi revaluation
and the surging of international money into China.
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| 6. |
From scarce telecom service to 300 million mobile users, 100
internet users (up from 10 million in 1997). |
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| 7. |
National Trunk Highway System (NTHS), to be completed by 2015,
should total 35,000 km of toll highways and expressways at a
cost of US$150 billion. China now has more than 10,000 km of
trunk highways in operation. China plans to have 100,000 km
of railway by 2010. |
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The economic and structural changes set in motion by
Deng Xiao Peng's reform is not only changing China, it is changing the
world. China is expected to continue with the current trends of high growth.
Such robust growth will bring forth new ideas, new technologies and new
business models, pioneered by the Chinese and the hundreds of thousands
of enterprising business leaders and managers from over 100 countries
participating in the modernization of China. China will set new trends
and be a leader in many aspects of modern life in the foreseeable future.
For several more decades ahead, China is expected to continue the high
growth rate. Today, China is already the most important industrial production
center, an important consumer market and commands the second highest foreign
reserve among nations in the world. Along the gold coast on Western China,
GDP per capita has topped USD5000. Today's China is the world's 7th largest
economy, and by 2030, it has the potential to become the third largest
economy.
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