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Real Estate For Sale In China

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About China

China Population: 1,298,847,624 (July 2004 est.)
Languages: Standard Chinese or Mandarin (Putonghua, based on the Beijing dialect), Yue (Cantonese), Wu (Shanghaiese), Minbei (Fuzhou), Minnan (Hokkien-Taiwanese), Xiang, Gan, Hakka dialects, minority languages.
Capital: Beijing
Government Type: Communist State
Independence Day: People's Republic of China, 1 October (1949)
Legal System: Acomplex amalgam of custom and statute, largely criminal law; rudimentary civil code in effect since 1 January 1987; new legal codes in effect since 1 January 1980; continuing efforts are being made to improve civil, administrative, criminal, and commercial law.
Currency: yuan (CNY)

Executive Branch:

Chief of State: President HU Jintao (since 15 March 2003) and Vice President ZENG Qinghong (since 15 March 2003).

Head of Government: Premier WEN Jiabao (since 16 March 2003); Vice Premiers HUANG Ju (since 17 March 2003), WU Yi (17 March 2003), ZENG Peiyan (since 17 March 2003), and HUI Liangyu (since 17 March 2003).

American Embassy: Xiu Shui Bei Jie 3, 100600 Beijing
Mailing Address: PSC 461, Box 50, FPO AP 96521-0002
Telephone: [86] (10) 6532-3831 FAX: [86] (10) 6532-6929

General Overview: For centuries China stood as a leading civilization, outpacing the rest of the world in the arts and sciences. But in the 19th and early 20th centuries, China was beset by civil unrest, major famines, military defeats, and foreign occupation. After World War II, the Communists under MAO Zedong established a dictatorship that, while ensuring China's sovereignty, imposed strict controls over everyday life and cost the lives of tens of millions of people. After 1978, his successor DENG Xiaoping gradually introduced market-oriented reforms and decentralized economic decision making. Output quadrupled by 2000. Political controls remain tight while economic controls continue to be relaxed.

Economic Overview: In late 1978 the Chinese leadership began moving the economy from a sluggish, inefficient, Soviet-style centrally planned economy to a more market-oriented system. Whereas the system operates within a political framework of strict Communist control, the economic influence of non-state organizations and individual citizens has been steadily increasing. The authorities switched to a system of household and village responsibility in agriculture in place of the old collectivization, increased the authority of local officials and plant managers in industry, permitted a wide variety of small-scale enterprises in services and light manufacturing, and opened the economy to increased foreign trade and investment. The result has been a quadrupling of GDP since 1978. Measured on a purchasing power parity (PPP) basis, China in 2003 stood as the second-largest economy in the world after the US, although in per capita terms the country is still poor. Agriculture and industry have posted major gains especially in coastal areas near Hong Kong, opposite Taiwan, and in Shanghai, where foreign investment has helped spur output of both domestic and export goods. The leadership, however, often has experienced - as a result of its hybrid system - the worst results of socialism (bureaucracy and lassitude) and of capitalism (growing income disparities and rising unemployment). China thus has periodically backtracked, retightening central controls at intervals. The government has struggled to (a) sustain adequate jobs growth for tens of millions of workers laid off from state-owned enterprises, migrants, and new entrants to the work force; (b) reduce corruption and other economic crimes; and (c) keep afloat the large state-owned enterprises, many of which had been shielded from competition by subsidies and had been losing the ability to pay full wages and pensions. From 80 to 120 million surplus rural workers are adrift between the villages and the cities, many subsisting through part-time, low-paying jobs. Popular resistance, changes in central policy, and loss of authority by rural cadres have weakened China's population control program, which is essential to maintaining long-term growth in living standards. Another long-term threat to growth is the deterioration in the environment, notably air pollution, soil erosion, and the steady fall of the water table especially in the north. China continues to lose arable land because of erosion and economic development. Beijing says it will intensify efforts to stimulate growth through spending on infrastructure - such as water supply and power grids - and poverty relief and through rural tax reform. Accession to the World Trade Organization helps strengthen its ability to maintain strong growth rates but at the same time puts additional pressure on the hybrid system of strong political controls and growing market influences. China has benefited from a huge expansion in computer internet use. Foreign investment remains a strong element in China's remarkable economic growth. Growing shortages of electric power and raw materials will hold back the expansion of industrial output in 2004.

International Disputes: Involved in complex dispute with Malaysia, Philippines, Taiwan, Vietnam, and possibly Brunei over the Spratly Islands; the 2002 "Declaration on the Conduct of Parties in the South China Sea" has eased tensions but falls short of a legally binding "code of conduct" desired by several of the disputants; most of the rugged, militarized boundary with India is in dispute, but the two sides are committed to begin resolution with discussions on the least disputed Middle Sector; Kashmir remains the world's largest and highly militarized territorial dispute with portions under the de facto administration of China (Aksai Chin), India (Jammu and Kashmir) and Pakistan (Azad Kashmir and Northern Areas), but recent discussion and confidence-building measures among parties are beginning to defuse tensions, India does not recognize Pakistan's ceding lands to China in a 1964 boundary agreement; in 2003 China together with Taiwan asserted their claims to the Japanese-administered Senkaku Islands (Diaoyu Tai) with increased media coverage and protest actions; China and Kazakhstan have resolved their border dispute and are working to demarcate their large open borders to control population migration, illegal activities, and trade; certain islands in Yalu and Tumen rivers are in an uncontested dispute with North Korea and a section of boundary around Mount Paektu is indefinite - China has been attempting to stem mass illegal migration of North Koreans escaping famine and oppression into northern China; China continues to seek a mutually acceptable solution to the disputed alluvial islands with Russia at the confluence of the Amur and Ussuri rivers and a small island on the Argun river as part of the 2001 Treaty of Good Neighborliness, Friendship, and Cooperation; boundary delimitation agreements signed in 2002 with Tajikistan cedes 1,000 sq km of Pamir Mountain range to China in return for China's relinquishing claims to 28,000 sq km, but demarcation has not commenced; demarcation of land boundary with Vietnam continues but maritime boundary and joint fishing zone agreement remains unratified; China occupies Paracel Islands also claimed by Vietnam and Taiwan; groups in Burma and Thailand express concern over China's construction of 13 hydroelectric dams on the Salween River in Yunnan Province.

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