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In recent years, people in China saw the average salary have a 12% increase every year. This made some people think that the other emerging countries, such as Bengal, Vietnam and Indonesia will benefit from the increasing labor cost in China,.
It is generally believed that the outflow of manufacturing will lead to the decrease of FDI into China. However, a new report from the Economist Intelligence Unit (EIU) proved that this opinion was wrong.
The inland provinces of China are the main beneficiaries of the increasing labor cost in the coastal areas of China. In the next few years these places will attract a lot of FDI.
The survey by the EIU shows that the Chinese textile industry is shrinking at a 6% pace every year, but China is still the manufacturing center for the computers and products with added value, let alone the overall retail and service.
EIU forecasts that Liaoning Province will have recruited FDI of 50 billion U.S. dollars by 2015 while Sichuan Province will have 18 billion U.S. dollars of FDI by then. India is exemplified to make readers have a clear view about the aforementioned data: in the first ten months of 2010, the FDI into India was 78 billion U.S. dollars.
As the most industrialized province in China, Guangdong has been attracting a huge amount of FDI since the 1980s. There is no reason for Guangdong to go through a worse situation of foreign investment in the next few years. It is forecasted that the FDI into this province by 2015 could amount to 33 billion U.S. dollars.
The tendency of FDI flowing into inland areas of China is quite clear in Chongqing, a municipality of West China. Bo Xilai, Party secretary of Chongqing, successfully improved local investment environment and attracted famous foreign companies like Hewlett-Packard. EIU points out that Chongqing only ranked 22nd in FDI among 31 provinces or municipalities in China but the amount of FDI it recruited last year had already climbed to 11 billion U.S. dollars.
Another major tendency was revealed by EIU as well: more and more foreign capital is attracted by the service industry. In the recent five years, the FDI into the wholesale and retail of services increased by nearly 40% every year.
In Xiamen, Fujian, the FDI into IT, scientific research and technological services all have drastic growth. In the 1980s, Xiamen became one of the first destinations for the FDI from Taiwan. Presently, three fifths of the FDI attracted by this city flows into the service industry.
Such a big number of data could show that China would still be the first country for FDI among all developing countries in the foreseeable future.
Another reason is that the production capacity of China shares the same growth rate with the salary level, reducing the influence of wages on manufacturers and service providers.
The education level of Chinese workers is much higher than the ones in India and Indonesia. Last month, the Indian education charity Pratham found in an annual survey that most of the students at Grade 5 could not even finish reading the books for the students at Grade 2 and their mathematics was bad too. All in all, for this country which claimed itself“the Center of Global Knowledge”, the survey revealed a dark picture to us.
It is generally believed that the outflow of manufacturing will lead to the decrease of FDI into China. However, a new report from the Economist Intelligence Unit (EIU) proved that this opinion was wrong.
The inland provinces of China are the main beneficiaries of the increasing labor cost in the coastal areas of China. In the next few years these places will attract a lot of FDI.
The survey by the EIU shows that the Chinese textile industry is shrinking at a 6% pace every year, but China is still the manufacturing center for the computers and products with added value, let alone the overall retail and service.
EIU forecasts that Liaoning Province will have recruited FDI of 50 billion U.S. dollars by 2015 while Sichuan Province will have 18 billion U.S. dollars of FDI by then. India is exemplified to make readers have a clear view about the aforementioned data: in the first ten months of 2010, the FDI into India was 78 billion U.S. dollars.
As the most industrialized province in China, Guangdong has been attracting a huge amount of FDI since the 1980s. There is no reason for Guangdong to go through a worse situation of foreign investment in the next few years. It is forecasted that the FDI into this province by 2015 could amount to 33 billion U.S. dollars.
The tendency of FDI flowing into inland areas of China is quite clear in Chongqing, a municipality of West China. Bo Xilai, Party secretary of Chongqing, successfully improved local investment environment and attracted famous foreign companies like Hewlett-Packard. EIU points out that Chongqing only ranked 22nd in FDI among 31 provinces or municipalities in China but the amount of FDI it recruited last year had already climbed to 11 billion U.S. dollars.
Another major tendency was revealed by EIU as well: more and more foreign capital is attracted by the service industry. In the recent five years, the FDI into the wholesale and retail of services increased by nearly 40% every year.
In Xiamen, Fujian, the FDI into IT, scientific research and technological services all have drastic growth. In the 1980s, Xiamen became one of the first destinations for the FDI from Taiwan. Presently, three fifths of the FDI attracted by this city flows into the service industry.
Such a big number of data could show that China would still be the first country for FDI among all developing countries in the foreseeable future.
Another reason is that the production capacity of China shares the same growth rate with the salary level, reducing the influence of wages on manufacturers and service providers.
The education level of Chinese workers is much higher than the ones in India and Indonesia. Last month, the Indian education charity Pratham found in an annual survey that most of the students at Grade 5 could not even finish reading the books for the students at Grade 2 and their mathematics was bad too. All in all, for this country which claimed itself“the Center of Global Knowledge”, the survey revealed a dark picture to us.