China is gaining new impetus in its economic development, with domestic demand driving growth in China leading to a reducing reliance on exports to generate growth. The World Bank’s latest China Quarterly Update showed that net exports contributed a mere 0.4% to GDP growth in the year up to Q4 2007, compared with a whopping 10.8% contribution from domestic demand. Net export contribution to China’s GDP will drop to zero in 2008, according to Dragonomics, a Beijing-based economics research firm.
China is unrelenting in its infrastructural development. As a noted Chinese economist puts it: “China is only halfway done with industrialization; and its thirst for investment will not subside when the Beijing Olympics closes.” The Ministry of Finance reiterates that China will continue implementing and improving its macro-economic control policies, stick to a prudent fiscal and monetary policy and strive for stable and fast economic progress. The transport sector, in particular – from roads and rail to sea and airports – has been singled out as the area for urgent attention to meet growing demands of an increasingly mobile population.
Against this scenario of unabated development, InfoComm China 2009 offers AV manufacturers a dedicated platform to position themselves for sustainable growth in the China market.
