Is China growing out of control

We all know that Australia’s future prosperity is substantially reliant on the resources boom and a large part of that will depend on China’s growth.

I found some of these numbers quoted in The Telgraph interesting reading:-

1.3bn – China’s population as at 2009.

10.3pc – China’s GDP growth in 2010.

$US183.1bn  – China’s trade surplus in 2010, a decline of 6.4pc compared with the previous year.

6.06% – China’s official one-year lending rate, up 25 basis points from 5.81%. China last raised interest rates on Christmas Day last year.

3pc – China’s official deposit rate.

4.6% – China’s rate of inflation in December 2010, down from a 28-month high of 5.1% the month before. Inflation for 2010 as a whole was 3.3%.

7.2% – Official food price inflation in 2010.

73 years – Life expectancy of someone born in China in 2008, up from 71.3 years in 2000, and 46.6 years in 1960.

4.1% – China’s unemployment rate as at the end of December 2010.

42million – The projected population of China’s newly-planned ‘mega-city’. If projections are correct, the city would be 26 times bigger than the Greater London area and twice the size of the entire country of Wales.

94% – Literacy rate of people aged 15+ in China. This compares with 65.5% in 1982.

$36.4bn – Amount of new loans the biggest state-controlled commercial lenders gave out in 2010, much of it for property development.

70% – Increase in sales of land-use rights to developers in 2010.

6.4% – Amount property prices rose in 2010.

1million – Number of people living in underground bunkers in Beijing.

14.8% – Increase in retail sales in China during 2010.

39 – Average age of Chinese millionaires, according to the Wall Street Journal.

8.4% – Average annual pay increase at multinational companies in China last year, according to a report by Hewitt Associates

1million – Number of Chinese tourists who visited the US during 2010.

500bn yuan (£47.3bn) – the amount of direct economic losses caused by extreme weather in China in 2010, according to the chief of the National Climate Center.

Now if those numbers haven’t blown you away – here are some more as ANZ’s Paul Braddick explains what could happen in China between now and 2025

  • 350 million more people will move to the cities – 103 million have moved since 1990
  • 221 Chinese cities will have 1 million + people living in them – the whole of Europe has 35 today
  • 1 million kilometres of new road and 28,000 kilometres of metro rail will be laid
  • 170 mass-transit systems will be built – twice the number that all of Europe has today
  • 40 billion square metres of floor space will be built to construct five million buildings
  • 50,000 skyscraper will be built (+30 stories) – the equivalent of building 2 Chicago’s every year
  • 97 new airports will be built
  • 1 in 7 planes assembled by Boeing and Airbus will be delivered to China
  • 1,000 MW of coal-fired power capacity will be commissioned every week – equivalent to 4 million tonnes of new coal demand
  • 1 wind farm turbine will be built every hour and a half

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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit

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