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China: Markets
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Since 1979, China has reformed and opened its economy. The Chinese leadership has adopted a more pragmatic perspective on many political and socioeconomic problems, and has reduced the role of ideology in economic policy. China's ongoing economic transformation has had a profound impact not only on China but on the world. The market-oriented reforms China has implemented over the past two decades have unleashed individual initiative and entrepreneurship. The result has been the largest reduction of poverty and one of the fastest increases in income levels ever seen. China today is the fourth-largest economy in the world.
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[A]long with the progress of rural informatization access in China, the Internet has become a substantial part of the building of a new-type rural area. 37 million rural users are bringing vast demand and real business opportunities. No one doubts the rural area in China will become a great Internet market.
China defines its foreign investment objectives primarily through its Foreign Investment Catalogue. The most recent version went into effect January 1, 2005. The catalogue is revised every few years and supplemented by directives from various government agencies. Contradictions between the catalogue and other measures, some of which are outlined below, have confused investors and added to the perception that investment guidelines do not provide a stable basis for business planning. Uncertainty as to which industries are being promoted and how long such designations will be valid undermines confidence in the stability and predictability of the investment climate. Of note, in December 2006, China opened the renminbi market to foreign banks, subject to the requirement that banks incorporate, in China, local subsidiaries of their overseas parents.
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"Today's start-up is Job 1 in our long-term commitment not only to our working relationship with DCD but to the China automotive market," said Waldey Sanchez, president and CEO of Sao Paulo, Brazil-based MWM INTERNATIONAL (MWMI). "We're honored to work with DCD to collaboratively offer the most advanced diesel technologies for low-cost, clean-burning, on-road vehicle operation."
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The Ford Focus was the fastest growing mid-sized car in China in 2007 and one of the 10 best selling cars in the market. Focus sales rose 57 percent in 2007 to 124,972 units. The Focus is ... one of the safest cars in the market, earning a five-star rating in the C-NCAP collision test.
Market research studies indicate TV ad sales represent about 75% of the overall ad spending in China's estimated $37 billion advertising market. Reports state television advertising sales in the first 6 months of 2006 totaled $14 billion representing a 22% increase over the same period last year making TV the greatest gainer in ad sales of all China media with newspapers, magazines, radio and outdoor growing 5%, 9%, 15% and 9% respectively.
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