In the second quarter 2010, China eclipsed Japan as the second largest economy in the world and, given the gap in the two countries' growth, is expected to confirm its position for the full year. Despite this, China plays it low-key and acknowledges it is still a developing nation.
HH Magazine de la Haute Horlogerie - 27 September 2010Christophe RouletHas China cornered the market in superlatives? The country is now the world's biggest market for passenger vehicles (an estimated 15 million in 2010), the biggest importer of raw materials, the biggest steel producer and, since 2009, the world's biggest exporter ahead of Germany. China is also in the process of becoming a major financial power, with Shanghai now the third largest stock exchange behind New York and Tokyo, with market capitalisation of some US$ 3 trillion.
Blistering economic growth
Last year, China recorded the highest number of initial public offerings (IPOs), mainly through the flotation of state-owned giants. The pattern looks set to repeat itself in 2010, after a public share issue by the Agricultural Bank of China raised a record US$ 22.1 bn, making it the biggest share flotation ever. ... Read more
